Recent Posts in Revocable Living Trusts Category

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What Events Trigger Changes to the Estate Plan? Part Three

Most events can be broken down into three categories Personal, Financial and Legal. A note on “Legal” changes Legal changes that can affect a plan include changes in the tax law, asset ...
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What Events Trigger Changes to the Estate Plan? Part Two

Most events can be broken down into three categories Personal, Financial and Legal. The following is a review of several common events in the Financial category, but it is by no means exhaustive: ...
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What Events Trigger Changes to the Estate Plan? Part One

Most events can be broken down into three categories Personal, Financial and Legal. The following is a review of several common events in the Personal category, but it is by no means exhaustive: ...
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Am I Too Young to Have a Will? Part Two

Am I Too Young To Have A Will? Part Two This isn’t supposed to be a scary blog entry, instead it should be seen as more of an eye-opener as to how simple it can be to protect your loved ones ...
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Am I Too Young to Have a Will? Part One

Am I Too Young To Have A Will? Part One 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. ...
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Estate Planning for Families with Special Needs Children - Part Three

“First Party” Special Needs and Pooled Interest Trusts If you are the person in Scenario 2 from Part 1 of this series (the person receiving governmental benefits) and you receive a ...
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Estate Planning for Families with Special Needs Children - Part Two

Supplemental Needs Trusts If you are the person in Scenario 1 from Part 1 of this series (the parent or grandparent of a child with special needs), and you wish to provide your loved one with ...
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Estate Planning for Families with Special Needs Children - Part One

Who Needs Special Needs Planning? Any family member or loved one with disabilities or special needs who relies (or may come to rely) on certain needs-based government benefits [e.g. Supplemental ...
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Estate Planning: Revocable Living Trusts vs. Wills - Part Four

Wait! I was told that you don’t really avoid Probate with a Living Trust This is completely false if all probate assets are transferred to the Trust, and we are defining probate as the standard ...
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Estate Planning: Revocable Living Trusts vs. Wills - Part Three

How big should my Estate be before I worry about probate? This is the trick question that plagues so many lay-people and professionals. I have seen some less experienced professionals try and create ...
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Estate Planning: Revocable Living Trusts vs. Wills - Part Two

How is a Living Trust different than a Will? A Will is a death instrument, and is practically speaking, a set of instructions that is provided to the probate court. A Living Trust on the other hand ...
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Estate Planning: Revocable Living Trusts vs. Wills - Part One

What is a Revocable Living Trust? The American Bar Association (ABA) website states… “The term ‘living trust’ is generally used to describe a trust that you create during your ...
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How to talk to your parents about estate planning

It is a difficult conversation to have, but you know that you need to have it....the dreaded estate planning discussion with your parents. Many of our clients have asked us how they can "get ...
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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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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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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 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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Do I need a Trust?

One of the most common questions I get from people regarding estate planning in Connecticut is whether or not they should have a Trust. Most of the time they are referring to a Revocable Living Trust ...
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Connecticut Probate - should I avoid it?

Ah, the question that everyone wants the answer to, but there are so many conflicting opinions. Almost every professional I speak with has an opinion on probate. Here is mine - you may want to avoid ...
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Estate Planning for New Families

Did you recently have a child, or do you know someone who recently had a child? If so, then it is time for you/them to review their estate plans. One of the most common responses I get from folks when ...
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Should my financial advisor be involved with my estate planning?

With all the different professionals out there who are involved in helping folks plan for and around life events, there can be some confusion around who is needed for what. Many of the clients who ...
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Why does my Trust cost so much?

I have found that all the education in the world is irrelevant to some folks if they don't know the answer to the most commonly asked question…"How much does it cost?" The answer ...
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3 Not-So-Obvious Reasons Why You Might Want to Avoid Probate

When probate attorneys and financial advisors talk about probate with their clients, they will often focus on the cost and time associated with going through the estate administration process. The ...
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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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