The Tax Cuts and Jobs Act increased the standard deduction amount. However, it also limited itemized deductions for state and local taxes (SALT) on the federal income tax return. Read on to learn what works (and what doesn’t work) to maneuver around the $10,000 SALT limitation. [Read More]
The Little Things May be the Most Important
Your estate may be worth a little or a lot at your death. The items which your beneficiaries might cherish could be the sentimental ones. Read on to learn how your will or trust could provide the ability for you to keep a list and update it without needing to see your lawyer every time you change your mind on an item. [Read More]
Domestic Asset Protection Trusts
Domestic Asset Protection Trusts are spreading to more jurisdictions. However, their protections may be waning. Read on to learn more about Domestic Asset Protection Trusts. [Read More]
Is Long-Term Care Insurance Worth the Cost?
An important aspect of estate planning is planning for your retirement years. Doing so requires you to do more than just stash as much money away as possible – though saving money certainly is important. Planning for your retirement years should also take into account the very real possibility that you, or a spouse, will … [Read More]
Connecticut Ranked in Bottom Half of States for Elder Abuse Protection
America is experiencing a historic growth in seniors – and that growth is not projected to slow down anytime in the near future. With the dramatic increase in older Americans has come an increased awareness of issues that impact them, including the prevalence of elder abuse, neglect, and financial exploitation. States across the nation are … [Read More]
Nongrantor Trusts Can Be Very Useful in Certain Situations
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a nongrantor trust and situations in which it might be useful. [Read More]
Grantor Trusts Provide Flexibility and Ease
A trust may be taxed as either a grantor trust or a nongrantor trust. Each type of trust has advantages and disadvantages. This article examines a grantor trust and situations in which it might be useful. [Read More]
Turning the Page on 2018 and Looking Forward to 2019
As we turn the page and bid farewell to 2018, we look forward to 2019. This article summarizes the major changes for 2019, both in the tax area and in other areas. Read on to learn more. [Read More]
Selecting an Agent
Choosing the right Agent under a Power of Attorney is one of the most important choices. This article discusses the qualities of an ideal Agent and qualities to avoid in selecting an Agent. Read on to learn more. [Read More]
What Type of Trusts Protect Assets?
Over the course of your lifetime, you will probably work toward building up your estate assets so that they can provide for you and your loved ones down the road. Acquiring assets, however, should not be your only goal. You also need to protect the assets you acquire. Your estate plan can help you do … [Read More]
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