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...
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Estate Planning
Is it time to review your estate plan?
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...
3 cost-efficient ways to transfer real estate
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....
Planning for estate tax changes coming in 2026
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...
Revocable versus irrevocable: which living trust is for you?
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...
How can I minimize my tax exposure?
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...
Use a living trust for asset protection
A living trust is a legal arrangement that merges your property and assets into one sheltered entity. When a person wants to establish a living trust, they become the grantor or owner. If you are the grantor, you can protect and control your assets while you are alive...
Estate planning strategies to benefit from high interest rates
Estate planning is an important aspect of financial planning in Connecticut that can help ensure that your assets are distributed according to your wishes after your death. In a high-interest-rate environment, there are several estate planning techniques that can be...
Charitable remainder trusts reduce taxes and provide income
Charitable remainder trusts are popular estate planning tools in Connecticut and around the country because they provide reliable income and may reduce capital gains, estate and gift taxes. The grantor earns a partial tax deduction when assets are placed in a...
Tax rules and options for charitable giving
The residents of Connecticut are known for their generosity. With so many worthy causes in the world, you may be considering how to donate while receiving the benefits of a tax deduction. You can reduce your tax burden while benefiting others by following charitable...