Planning for the future requires protecting your assets. Qualified Personal Residence Trusts (QPRTs) serves as a strategic estate planning instrument for those wanting to secure their financial legacy. To help safeguard your assets, it is helpful to know how to...
Estate planning involves various tools and strategies to help manage and transfer wealth efficiently. One such tool is the Grantor Retained Annuity Trust (GRAT). What is a Grantor Retained Annuity Trust? A Grantor Retained Annuity Trust is an irrevocable trust that...
Setting up a charitable remainder trust (CRT) is a generous way to give back, but it requires careful handling to avoid common pitfalls that could complicate your intentions or undermine the trust’s effectiveness. There are crucial errors to avoid to ensure your CRT...
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...
There is an aphorism that the only certain things in life are death and taxes. Probate court is where those two certainties of life sometimes collide. Those with substantial personal holdings may leave behind large estates when they die unless they plan carefully...
Estate taxes can diminish the value of an estate when someone dies. As a result, they have the potential to leave loved ones with less than anticipated inheritance. However, utilizing a trust can be an effective strategy to avoid or reduce estate taxes in Connecticut....
When planning for the future, considering a trust as part of your estate plan can be a wise choice for managing and protecting your assets. Trusts can seem complex, leaving many people with questions about their workings and suitability for their estate planning...
The Achieving a Better Life Experience Act allows individuals with disabilities to save money in a tax-advantaged account for qualified disability expenses. Connecticut implemented the ABLE Act in 2016, providing residents with disabilities and their families the...
Planning can secure your family's financial stability for future generations. One way to accomplish this is by establishing a dynasty trust. This type of trust allows you to preserve and grow your assets while minimizing taxes and protecting your wealth from various...
Those who achieve economic success often hope to pass their good fortune to others when they die. Estate plans allow individuals to choose specific beneficiaries to receive their assets, including family members and charitable organizations. Maximizing what someone...