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...
In creating a trust, the trustor must appoint a trustee. They can name themselves as the trustee of a revocable living trust and assign a successor trustee who will take over the management of the estate when the trustor passes. With irrevocable trusts or special...
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...
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 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...