People who are committed to their family, friends and causes will take time as early as necessary to see that their estate is disbursed to beneficiaries with clarity and finality after they're gone. Last wills and testaments join trust documents and other records of assets to create Connecticut's legal framework for estate planning.
Estate planning is more than a rich person's game. Clear wills and prearranged trusts can prevent needless arguments between inheritors with any size of bequest. However, rules and requirements for estate planning often get more complex when people are dealing with a larger estate.
Facing a possible disability is always a difficult process. It often feels like a betrayal that a long and successful life may be rewarded with a reduced ability to take care of one's self. A betrayal can become quite literal, however, if someone abuses a legal arrangement to handle
One thing that no one wants after they're gone is to have their beneficiaries -- typically children and/or grandchildren --- squabbling over who got what from the estate.
One of your main estate planning goals is to minimize your tax burden. As you age, you may also start to consider what legacy you will leave behind. One way to reduce your taxes and feel good about yourself at the same time is through charitable giving.