In the realm of estate planning, the grantor-retained annuity trust emerges as a powerful tool for Connecticut residents seeking to preserve and transfer their wealth strategically. This financial mechanism, often overlooked, offers a unique approach to safeguarding...
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Trusts
How supplemental needs trusts can protect family wealth
Benefits programs like Social Security Income can help people living with disabilities and health conditions meet their basic needs and live fulfilling lives. Over 48 million people received SSI support for disabilities in 2021, according to the Social Security...
Methods to keep your business and personal assets separate
A lawsuit that deprives you of your personal savings is a possibility any business owner should guard against. No matter whether you are new to entrepreneurship or a seasoned company owner, you should have effective asset protection methods in place. By keeping your...
Reasons to choose an irrevocable life insurance trust
Financial planning is a critical aspect of ensuring the well-being of loved ones. Life insurance plays a vital role in this process for Connecticut residents, providing a financial safety net for beneficiaries if the policyholder passes away. One effective way to...
Exploring the benefits of charitable remainder trusts
Each person’s approach to estate planning depends on how they see their life now and how they want to see it in the future. Some people’s ideal future could include protected properties and supported families, while others might prefer to support their beloved...
How an irrevocable trust shields your assets from creditors
As you build your wealth throughout your life, you may also encounter the challenge of getting caught up in an ongoing cycle of debts. Concerns about managing these financial obligations in the event of your passing start to weigh on your mind. Naturally, you would...
Transferring assets through a generation-skipping trust
Creating a trust is a popular method for people to pass assets to their beneficiaries while keeping the impact of taxes to a minimum. There are many types of trust, allowing you ample freedom to control the distribution of your assets and who benefits from them after...
Why is your trust’s residency important?
A trust provides various benefits, including potentially reducing the impact of estate taxes on your properties and the beneficiaries who will inherit them upon your death. There are several factors to consider when creating a trust, and one of the most important is...
Can multiple people fund a special needs trust?
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...
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....