Probate, the Connecticut Estate Tax Return, and You

Connecticut probate and taxation are separate, but you can expect to have to complete a Connecticut Estate Tax Return even if you don't have a "taxable estate." The non-taxable estate tax return is the CT-706 NT. This form will need to be completed and provided to the Connecticut Probate Court within 6 months of the date of death.

It is important to recognize that even if your property does not go through probate because you have a Revocable Living Trust, or because you have other property passing outside of probate, your executor will need to ensure Connecticut Estate Tax Return for Non-Taxbable Estates is completed properly and executed in a timely fashion. The form does not just require reporting of property passing via your Will or the Laws of Intestacy. It requires reporting of ALL property included in your Connecticut Taxable Estate.

The good news is that your executor can have a Connecticut probate attorney assist with the preparation of the CT-706 NT.

That being stated, you may be able to help control the costs of probate by getting together as much information as possible before the CT probate attorney helps you with the form.

Here are a few pieces of info that you may need:

  1. Owners of all accounts (bank, investment, brokerage), policies, annuities, and other assets even if held jointly
  2. Percent of ownership if assets are held jointly
  3. Beneficiaries and % or share each is entitled to upon death

This is by no means an all-inclusive list. But, if you are having difficult putting together this information or working with a financial institution to obtain any infor, or if you have questions about CT probate, feel free to contact us to set up a consultation.

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You can get our contact information by clicking here. If you are looking for more information from a Trumbull probate attorney, a Westport probate attorney, a Stamford probate attorney or a probate attorney handling other cases in Connecticut feel free to contact us.

Categories: Probate, Taxes