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Estate planning is about more than deciding who inherits your assets. It is about protecting what you have built and making sure your wealth reaches the right hands with as little loss as possible. For Connecticut families, trusts can reduce estate taxes, shield...
Generally speaking, a special needs trust is going to be set up to last indefinitely. The trust may be in place until the beneficiary passes away. With a third-party special needs trust, the beneficiary does not own the assets. They are transferred into the trust by...
It is certainly possible to put physical property into a trust. It is true that many people set up trust funds just to hold financial assets, such as someone who leaves a financial inheritance in a trust earmarked for a grandchild’s college education. Do not assume...
Many families assume estate planning only matters after they are gone. But the most powerful wealth-preservation decisions actually happen during your lifetime, not after. In Connecticut, delaying asset structuring leads to missed opportunities and costly tax...
A lifetime of hard work and smart decisions has allowed you to build real wealth. Naturally, you want that wealth to support your children, grandchildren and future generations. However,without proper planning, a large portion of your estate could go to taxes rather...
A part of the probate process that might concern families is that certain personal information becomes a public record during proceedings. This article examines the scope of these disclosures and explains how a living trust can address privacy concerns. Why probate...
Families with significant assets often focus on tax planning, passing down wealth and maintaining control over the long term. However, planning can become more complicated when a beneficiary has a disability. In Connecticut, a supplemental needs trust can help address...
For many families, building wealth is only half the mission. The other half -- just as important -- is protecting that wealth for future generations. A generation-skipping trust (GST) may be one of the most effective planning tools for passing assets down the family...
When you write a will, your goal is to make sure your property goes to your heirs without problems. Even small mistakes in describing your property can cause legal disputes, slow down probate and create extra costs for your loved ones. For people with significant...
Charitable remainder trusts (CRTs) are estate planning tools that allow individuals to support charitable causes while maintaining an income stream for either a specified period or life. A CRT can provide tax benefits, help manage appreciated assets and ensure that a...