In today's digital age, our lives are intertwined with a vast array of digital assets. These assets hold financial and sentimental value, from online financial accounts to social media profiles. Imagine what can happen to those accounts when you die. Incorporating...
A common strategy parents of children with special needs take is creating a special needs trust (SNT), also known as a supplemental needs trust, to ensure that the child’s needs, on top of basic ones, are continuously provided for in the event something happens to the...
Once you have established a thorough estate plan that meets all your needs, you may assume it ends there. You have transferred all your assets to a living trust. The living trust will allow you to manage your finances and estate during your lifetime and distribute...
Real estate can be expensive. Aside from the property's worth, owners could face additional expenses related to managing and giving them to family members. Failing to make an estate plan leads to uncertainty about what happens to your assets after your death....
Connecticut residents should be aware that several changes to estate tax laws effective in 2026 may affect how they structure their plans. This particularly applies to those who have significant assets. Estate tax exemptions will decrease significantly Current federal...
Estate planning is an excellent tool for individuals to recalibrate their goals and values. Tools such as wills and trusts help people put their wishes into writing. Some people primarily think about the security of their family, while others align their wishes with...
In creating a trust, the trustor must appoint a trustee. They can name themselves as the trustee of a revocable living trust and assign a successor trustee who will take over the management of the estate when the trustor passes. With irrevocable trusts or special...
A living trust is one of the essential tools in estate planning to ensure the proper disposition of one’s assets without going through an extensive probate process. Moreover, when a trustor decides to establish a living trust, they need to decide whether they want a...
The most frustrating issue about acquiring a wealth of assets and properties is the taxes you must pay when you decide to sell or transfer these. You cannot take your estate with you when you pass; transferring it to your relatives will also subject the properties to...
Living trusts are common in Connecticut estate planning because of their favorable attributes, such as not having to go through the probate process and gaining more flexible control over its terms and implementation. But what if you want to add properties or change...