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A common strategy parents of children with special needs take is creating a special needs trust (SNT), also known as a supplemental needs trust, to ensure that the child’s needs, on top of basic ones, are continuously provided for in the event something happens to the...
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....
Estate planning is an excellent tool for individuals to recalibrate their goals and values. Tools such as wills and trusts help people put their wishes into writing. Some people primarily think about the security of their family, while others align their wishes with...
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...
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...
Living trusts are common in Connecticut estate planning because of their favorable attributes, such as not having to go through the probate process and gaining more flexible control over its terms and implementation. But what if you want to add properties or change...
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...
Charitable remainder trusts are popular in Connecticut because of their reliability and benefits. Aside from reducing capital gains and taxes, they allow you to receive a regular payment based on your initial terms and agreement. You could receive payments based on...
An intentionally defective grantor trust (IDGT) is a popular estate planning tool that allows individuals to transfer assets to their heirs while minimizing gift and estate taxes. Connecticut residents considering their estate planning options should be aware of how...
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...