Estate planning can be complicated, but it may improve your quality of life and help ensure financial freedom and peace of mind for your benefactors. If you're a Connecticut resident, here are some ways that advanced estate planning can benefit you and your family....
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Estate Planning
The benefits of an irrevocable life insurance trust
An irrevocable life insurance trust can be a great estate planning tool for Connecticut residents. Often referred to as an ILIT, these instruments act as both the owner and beneficiary of large life insurance policies. Using an ILIT can help high net-worth individuals...
Estate planning strategies for people of high net worth
Connecticut is home to many high-net-worth individuals. Plenty of people commute into New York for finance jobs or work as insurance industry executives in cities like Hartford. Earning a good living removes many of life's challenges, but it also creates others. There...
Strategies for avoiding estate taxes
Taxes help fund public goods, and most taxes come from individual income, corporate income, sales and payroll taxes. Although estate tax doesn't make up a substantial portion of Connecticut's tax revenues, every family wants to avoid estate taxes if possible. Give...
Legacy planning avoids financial pitfalls
Having a will may not guarantee that your wishes are carried out or that your heirs’ needs are assured. Estate planning should include asset transfer strategies, such as legacy planning, that helps future generations use your wealth wisely. Legacy planning Legacy...
The benefits and perils of a charitable remainder trust
There are different types of trusts that can serve different purposes. The charitable remainder trust (CRT), for example, is a popular type of irrevocable trust for charity-minded individuals. It offers a variety of benefits, but there are some potential risks as...
Prevent claims against the will with transparent estate planning
Large, high-value estates often require intricate and complex estate plans. Lawyers must account for the will, insurance policies, trusts, 401(k)s, and more as they draft comprehensive plans that protect their client’s estate. However, even the most thorough plans...
How do you keep the kids from fighting over your estate?
You thought that the sibling rivalry between your children was pretty rough to handle when they were young but thought it would fade. Instead, your adult children have become more deeply entrenched in their rivalry than ever. In fact, they can be downright...
What makes a will valid in Connecticut?
When you craft your estate plans, you certainly want your wishes to be followed -- and that means making certain that you don't accidentally invalidate your will. It can happen easier than you think. A lot of people get into trouble because they use generic wills that...
New marriages often require new estate plans
As they age, people often say the world used to be simpler. Sometimes, it is a simple matter of perspective, but it is plainly true in some cases. For example, old age by modern measures was rare in previous centuries, and divorce was nearly unheard of when religious...
