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Going through the steps for estate planning in Connecticut can be highly beneficial. You can choose who will inherit your possessions, name your children's guardians, minimize the odds of family disputes and reduce taxes. Leaving assets to the next generation In the...
Funding a trust in Connecticut can be a complex process. There are a number of challenges that you will need to overcome. Your purpose may be to move the appreciation of the asset from the grantor to your beneficiaries. This will be to reduce the value of your assets...
Estate planning is a positive for the family of a deceased person. Probate costs can add up in different ways. Working with an attorney to handle estate problems can cost time and money, with probate taking up to one year to complete in Greenwich, Connecticut. if a...
Many people in Connecticut think wills are the only way to handle assets. However, trusts are another option to manage assets and ensure they get transferred to recipients. A common type of trust is an irrevocable life insurance trust. Overview of trusts Trusts are...
"How do I know I need a living trust instead of a simple will or other related documents when estate planning in Connecticut?" If you have been wondering the same, you are not alone. Here are some factors and situations you need to consider when deciding if a...
People who make regular donations to nonprofit organizations often set up of charitable remainder annuity trusts (CRATs). As the donor, you receive funds for yourself, your beneficiaries and your favorite charities. In Connecticut, donors may start benefitting once...
As a single person who has worked your entire life, you have accumulated significant wealth. If you have no family or heirs to leave your assets to, you may wonder what you can do with your wealth. Connecticut residents can create a single-life annuity that can keep...
The IRS allows many ways for individuals to reduce their income taxes. This allows you to better prepare yourself for the future while allowing more of your income to go where you want it to. Whether you live in Connecticut or another state, you can take advantage of...
Connecticut families with a special needs relative have a lot to consider when estate planning. One of the most pressing questions that families face is how their special needs child or younger relative be taken care of after their death. A popular option for ensuring...
The creation of a trust may make it easier to ensure that your Connecticut estate planning wishes are carried out after you die. It may also make it easier to ensure that your affairs are properly managed during your lifetime. However, this exact purpose that such a...