Families with significant assets need more than good intentions to protect their wealth and maintain privacy. One way to achieve this is through a trust, which can serve as a powerful tool to safeguard holdings and pass them on to the next generation. Yet even...
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Estate Planning
Make long-term care a part of your estate plan
If you are age 65 or older, there is a reasonable probability that you will need some skilled nursing care. It can be short-term while you’re receiving rehabilitation after surgery or a stroke. It could also be a more permanent placement so that you can receive...
Can you “divorce-proof” your child’s inheritance?
If you’re like many parents of young adult children, one of your goals in estate planning is protecting their eventual inheritances from divorce. You don’t want to see any part of your wealth go to someone who is leaving the family – perhaps under negative...
Wealthy Americans cannot overlook digital estate planning
Most Americans of means understand that the process of estate planning is consequential when it comes to preserving wealth and working to ensure that assets are passed on according to their wishes. These days, the focus of estate planning is no longer just on real...
Lawful tax avoidance via estate planning
Estate planning is not just about deciding who will inherit your assets—it is also about crafting knowledgeable, strategic ways to minimize your estate’s tax liabilities legally. Lawful tax avoidance allows individuals to structure their estates in ways that minimize...
What is the best way to leave an inheritance to your children?
Leaving an inheritance can be an important part of estate planning, especially when making sure your children are financially secure. Connecticut law provides several options for leaving an inheritance that can meet your goals and protect your children's future....
Can you get a tax deduction for donating art?
Donating art can be an important part of estate planning, especially for those who hold significant collections. Understanding how specific rules apply can help high-income individuals make strategic decisions. What qualifies as a charitable donation? To claim a tax...
Who is eligible for a special needs trust?
When planning your estate, consider how to provide for loved ones with special needs. A special needs trust (SNT) helps you support a beneficiary with disabilities without affecting their eligibility for government benefits. Knowing who qualifies for a special needs...
Single-life annuities can continue legacies even without heirs
For some people, leaving a legacy is synonymous with passing on one’s estate to heirs. This might leave those without children or close relatives wondering what will happen to their wealth. Is there a need for an estate plan if there are no heirs to receive one’s...
Special needs trusts protect assets and government benefits
If you have children with disabilities or worsening conditions, you may worry about their future. You may have assets to leave behind for their care but harbor concerns that it will interfere with their ability to obtain needed government aid, such as Medicaid...
