Greenwich Connecticut Estate Planning Law Blog

New marriages often require new estate plans

On behalf of Ferguson Cohen LLP posted in Estate Planning on Friday, October 18, 2019.

As they age, people often say the world used to be simpler. Sometimes, it is a simple matter of perspective, but it is plainly true in some cases. For example, old age by modern measures was rare in previous centuries, and divorce was nearly unheard of when religious orders had more power in society.

Divorce is becoming less common after a spike at the turn of the 21st century, but people above the age of 55 are seeing the ends of more marriages in court. What's more, people in this age group are more likely than not to remarry, which can complicate intricate and important estate plans.

Why go to probate court when you can mediate?

On behalf of Ferguson Cohen LLP posted in Probate Litigation on Friday, October 11, 2019.

The last thing that someone wants to do as their last act is create an argument in their family. But disputes over inheritance are all too common, and it does not take much of a misunderstanding to spiral out of control and ruin vital relationships. Probate courts can help sort out disagreements, but the process does not have to be adversarial.

What are the alternatives to traditional probate?

When and how do children become adults?

On behalf of Ferguson Cohen LLP posted in Guardianships and Conservatorships on Thursday, October 3, 2019.

Many cultures have different ceremonies and events that mark a child's ascendancy into adulthood. Religions may mark a certain age or progression, and some societies require some actions at the time a child is ready.

Nearly all American states, including Connecticut, use the age of 18 as the marker for the start of being an adult.

Estate planning tips for new parents

On behalf of Ferguson Cohen LLP on Monday, September 30, 2019.

Everyone needs to create an estate plan, no matter how uncomfortable the process may seem. The Connecticut Post recently ran an article offering tips on how people can stop procrastinating and actually get this work done.

There are times in your life when you definitely need to look at your estate plan to ensure it is how you want it to be. Whether the parents have already created estate plans or have not done so already, having a child is a good time to revise or make one. You want to make sure your children have support in the event of an unforeseen injury, illness or death.

Every job requires the right tools, including estate planning

On behalf of Ferguson Cohen LLP posted in Estate Planning on Tuesday, September 24, 2019.

It takes expertise to be a builder, but it also takes the right tools. The wrong implements and materials mean trouble for a home, sooner or later. In the same way, estate planners have to make sure that the right financial instruments are part of their strategy to pass money and property to others.

The first and most basic part of an estate plan is the last will and testament. This document states the intentions of a person on what can happen to their assets upon their death. A will can clear up confusion on who gets what as well as legally certify instructions for future generations.

How can I avoid probate litigation with planning?

On behalf of Ferguson Cohen LLP posted in Probate Litigation on Tuesday, September 17, 2019.

You always have the option of leaving your possessions and money to anyone you want. But this process can be more complicated than people expect. Assets may be taxed, especially if they are left to people beyond the immediate family. Disputes may even arise between possible benefactors. How can you avoid these problems? Planning is the best option.

How can I simplify the inheritance process?

In some cases, people can avoid disputes in probate court by converting assets into forms that are readily handed to others upon a previous owner's death. These include living trusts, in which property may be given to another party in a revocable way, and payable-on-death accounts, which have a specific designated inheritor.

What about real estate?

What are pros and cons of conservatorship?

On behalf of Ferguson Cohen LLP posted in Guardianships and Conservatorships on Monday, September 9, 2019.

The human mind is an amazing thing, but it can also seem fragile at times. Head injuries can cause memory loss, and the simple and unavoidable act of aging can degrade its function over time. Many people may not want to think about the damage that a stroke, dementia or injury could do to the mind, but the best defense is to make sure it is easy to care for them under these conditions.

How can people provide for the care of relatives with mental issues?

Mistakes to avoid for high net worth estates

On behalf of Ferguson Cohen LLP on Thursday, September 5, 2019.

While estate plans can be beneficial for individuals of various economic statuses, those with large estates may find estate planning to be particularly beneficial. Not only can it help ensure the wishes of the estate holder upon passing, but it also removes the confusion and burden for the estate holder's family during what can be a hard time.

Whether you look to create an estate plan or revise one that you have in place, there are a few key elements to consider. Particularly if you have a high net worth estate, it would be beneficial to understand and avoid a few common mistakes.

Estate planning in Connecticut deserves the right help

On behalf of Ferguson Cohen LLP posted in Estate Planning on Tuesday, September 3, 2019.

Many successful people rely on professional help to guide their financial fortunes through life. Why would anyone do differently when it comes to the future of properties and assets when life is coming to an end?

Close families, descendants and charitable organizations may rely on our patient and careful planning for bequests in a will or trusts created to transfer homes or monies before death. As these decisions are some of the last and the most important we will ever make, it makes sense to get the right help to make them right.

An executor can make sure last wishes are fulfilled

On behalf of Ferguson Cohen LLP posted in Probate Litigation on Tuesday, August 27, 2019.

Life is full of amazing adventures and rewarding relationships, but the one certainty is it will come to an end. This eventuality makes it difficult to think about what to do with the collections of a well-lived life, but estate planning is often best done early in life and updated often.

Talking about plans with the family and other loved ones is a vital part of making sure plans are understood. It also reduces the confusion that can occur after the death of an estate's holder, especially when emotions are at some of their heights.

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