Blog Posts in 2011

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When do I need to go through the probate process?

The probate process in Connecticut occurs when application for probate is made to the court. But when is that necessary? For one, when you have a Will, that Will must be submitted to the Court by the ...
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"One of my parents recently passed away. What do I do now?"

First off, allow me to express my sincere condolences to anyone who is dealing with this right now. I know this is a very difficult matter for al of us, and the fact that we have to take action to ...
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Holiday Gift Giving...and tax benefits

The holiday season is upon us, and many folks are trying to figure out what to get their loved ones (including me)! At the end of the day, we will figure it out and our families will benefit as a ...
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Would you like to help ensure your kids "stretch" IRA benefits?

I came across this article in the AARP discussing "stretch" IRAs. (Click here for AARP article) . A "stretch-IRA" can be a great benefit for your kids. The goal of course is to ...
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Can my Will take care of estate taxes for me?

The answer to this question is kind of tricky. The bottom line is that a Will without any Trust does not do anything in and of itself to help you avoid taxes. So what can be done with your Will to ...
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How to ensure you can take care of your kids while they are away at school

Many of you have probably heard of a power of attorney, and you may also know of a "health care proxy," "health care power of attorney," or "health care instructions." ...
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NOVEMBER 7, 2011: Is the Super Committee going to take away my gift/estate tax exclusion?

The short answer is that we do not know for sure. One source states that this "may" happen. But, it does not seem that anyone can do anything but guess whether or not this will happen at ...
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What is the scariest and most expensive estate planning mistake?

Happy Halloween everybody! Today's post is going to answer a question that I get pretty often from folks these days, and will fit right in with the Halloween theme. "What is the scariest ...
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Cost of Probate vs. Trust Administration

Every so often someone asks me how expensive it is to go through probate, and whether or not they should use a Living Trust to avoid it. The answer to that question is that Trust administration can be ...
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Should I just leave everything to my spouse to avoid Taxes?

A came across an interesting article on Al Davis today (click here for article). You might have heard about Al Davis's death if you have been watching the news or if you happen to be a sports fan. ...
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Revocable Living Trust vs. Irrevocable Trust

In one of my previous posts, I described the benefits of a Revocable Living Trust, and recently I realized that many people might not know how this differs from an Irrevocable Trust. So this naturally ...
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Common Asset Protection Questions

Quite often I'll get a client that comes into my office with many questions regarding asset protection. Almost always they are very good questions that more people should know the answer to. So, ...
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Business Succession Planning 101

One of the areas of practice at my law firm is Business Succession Planning. Like many other types of planning, people may not realize the true value of creating a proper plan until it is too late. As ...
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An Introduction to Pet Trusts

In February of 2010, famous British fashion designer Alexander McQueen passed away in an apparent suicide. His will was recently released to the public, and one thing stood out: he left $82,000 for ...
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Living Trust vs. Will: Which Is Better For Me?

I often get asked whether or not it is better to have a Living Trust or a Will. The reality is that you may very well need both. The real question is: which one should you use as the cornerstone of ...
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Am I Too Old To Redo My Will?

I've mentioned before that many people question whether they are too young to consider drafting a will or estate plan, but on the other end of the spectrum is another common question that I get: ...
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Am I Too Young To Have A Will?

I can't explain how many times I've been asked this question. It's actually a really good question, and the answer is not a simple Yes or No. Many people tend to think: "I'm way ...
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PROPOSED CHANGES TO FEDERAL ESTATE & GIFT TAXES: Part 1 - Obama's 2012 Budget

As we are all aware, The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (AKA the 2010 Tax Act) had a profound effect on estate planning. Unfortunately for many hard ...
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WHY CONNECTICUT RESIDENTS SHOULD CONSIDER THE NEVADA ASSET PROTECTION TRUST

(Copyright 2011) I. Introduction In Connecticut and most other states, when an individual who creates and transfer assets to a Trust (the maker or "trustor" of the Trust), is also a ...
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Behold, the Power of Properly Drafted Estate Documents!

Reclusive heiress leaves money to who...? As crazy as it may seem, Huguette Clark, heiress of around $400 million, gave nothing to her family, but left about $38 million to her private nurse, Hadassah ...
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One Great Way to Optimize Your Estate Plan: Use an Outsider's Perspective

This article on Yahoo Finance/New York Times touches on the subject of financial planning and how regardless of our achievements, we can learn tips from other successful people that will help ensure ...
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Asset Protection 101: Part 2

Proper asset protection strategies can be used to protect - your hard-earned assets during your lifetime; and your loved ones who may need protection from themselves, due to lack of maturity or other ...
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Helpful Information for Baby Boomers Who Take Care of Their Parents

As can be seen from the surprising survey in this USA Today article, many Baby Boomers do not know even the most basic information about their parents' medical histories. Initially this may just ...
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Asset Protection Planning 101: Part 1

The sad reality about the times we live in is that people are suing and getting sued more often these days, and the trend doesn't seem to be slowing. As the economy becomes more volatile, ...
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How Does a Trust or a Power of Attorney Help You Avoid Losing Control Over Your Money When You Can't Take Care of Yourself?

A friend passed on this article to me about folks who lose their inheritance because their parents were taken advantage of my hired caretakers. Unfortunately, what I have found is that many adult ...
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47 results found. Viewing page 1 of 2. Go to page 1 2   Next