Blog Posts in 2013

Is having a co-trustee a good idea in Connecticut?

Determining who will be the Trustee of your Trust can be a very difficult decision. Many parents want to name their children, but are concerned that doing so will subject them to unnecessary ...
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Is TOD a good way to avoid probate?

A "transfer on death" (TOD) account is one where a beneficiary or beneficiaries is/are named. The purpose often times is to "avoid probate." Unfortunately, this tool is often times ...
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Will my family business go through probate?

A Will is essentially a set of wishes that goes to the probate court. Many people prefer to avoid a standard probate process and use trusts as a probate avoidance tool. The reason why many people want ...
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Can my parent's creditor go after a joint account after mom or dad dies?

This is a common question and there are a lot of misconceptions out there regarding jointly held property. First off, a jointly-held account with rights of survivorship (hereinafter referred to as ...
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How Do I Leave an Inheritance to My Child with Special Needs?

Special needs trusts in Connecticut are an invaluable tool for protecting children with special needs. The most common type of trust that we see used for this purpose is what is referred to as a ...
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Common Probate Issues - Funeral expenses

The general rule in Connecticut for married couples is that the funeral expenses are an expense of the estate, but if the estate doesn't have the money to pay...the surviving spouse pays. In the ...
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Does jointly-held property avoid probate in Connecticut?

I cannot tell you the number of times I have heard from someone that they were told by [insert name] that if they put their spouse or child on the deed to their house that they will avoid probate. ...
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Estate Tax Return in Connecticut?

Today's blog post is dedicated toward one of the more frequent issues we come across when working with widows and widowers. Mny times a client wants us to draft a revocable living trust for them ...
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Connecticut Probate -Executors buying real estate

Sometimes the executor of the Will ends up being one of the children of the deceased individual. It may also be the case that this person wants to keep the house. This raises an immediate ...
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Estate Planning for non-taxable estates in Connecticut

Many people in Connecticut are concerned about other aspects of estate planning than just estate taxes. Many others would be concerned about these other aspects if they knew more about estate planning ...
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How do I name Guardian for my child?

In honor of my newborn son's first day home out of the hospital, today's post is on guardianship in Connecticut. Many parents want to make sure that the right person is taking care of their ...
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The "New" Medicare Surtax on Trusts and Estates

There is a new tax in town. As of January 1, 2013 a 3.8% Medicare surtax may be applied to certain trusts and estates. The surtax does not apply to Revocable Living Trusts during the grantor's ...
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Is Estate Planning only for the Wealthy? - Part 2 Health Care

In the first part of this series we discuss the importance of having a Will for all people, regardless of how much money you have. The next part of this series will discuss what we call health care ...
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Will the Estate Tax be Repealed?

No one can deny the struggling state in which our economy has found itself; nor can anyone deny that drastic measures need to be taken in order to rectify the troubled times in which we are living. ...
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Is Estate Planning only for the wealthy? - Part 1

Is Estate Planning Only for the Wealthy? –Part 1 A common misconception that we encounter in our field is the idea that estate planning is only for a particular class of people—the super ...
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Divorce Protection for Children

A common inquiry I get from parents looking to protect their children is - "How do I make sure the money I leave for my kids doesn't end up going to their husband/wife?" The problem is ...
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What is the Estate Tax in 2013?

So, it is 2013. The dust has cleared, and we have avoided the fiscal cliff for estate, gift and generation skipping transfer tax purposes. What does that mean? Well, first the facts - The American ...
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