Category Archives: Estate Planning
Understanding The Role Of Healthcare Representatives And Living Wills
You are not mandated by any laws to put an estate plan together. But, if you care about your wealth, your health, and the welfare of your loved ones, should something happen to you, it is a good idea to put a plan in place. Estate planning can be customized to your wants and… Read More »
How Is A Living Will Different From A Last Will?
Many think establishing a will is an effective means to manage one’s estate after death. A will, though, can mean either a last will or a living will. These terms may seem like they are similar and accomplish the same goals. However, they actually function quite differently and are used for different purposes. Though,… Read More »
Powers Of Attorney
What is a power of attorney? A Power of Attorney is a written authorization to represent or act on another’s behalf in private or business affairs, or other legal matters and bind the principal to legal responsibilities. Essentially, a Power of Attorney is used when one needs another person’s presence to execute legal documents. … Read More »
Considerations For Parents Of Children With Special Needs
If you are a parent of a special needs child, the challenges you face helping them grow and mature are unique. There is much more to consider on a daily basis when a child needs extra support with everyday life and activities. While 18 is regarded as a legal adult, that does not mean… Read More »
Incorporating Life Insurance In Your Estate Plan
Death is a sore subject for many people. They want to live their lives without thinking about dying. However, we all need to be prepared for the inevitable. A good estate plan incorporates many elements. Life insurance may be one of them. More and more Connecticut residents are thinking about life insurance, especially since… Read More »
The Difference Between Pooled Versus First-Party Special Needs Trusts
If you have a beneficiary that suffers from a serious physical and/or mental impairment or chronic illness and receives government assistance, you want to think about how you can allow that individual to receive their inheritance without sacrificing the government benefits they desperately need. A special needs trust may be the right estate planning… Read More »
Should A Senior Spend Down Their Savings?
Over the course of a lifetime, people work and grow their financial and property assets. The earnings people have made have been saved and invested and can be modest to substantial. No matter how modest or robust one’s savings are, the thought of how to handle expenses after retirement while also providing for beloved… Read More »
What Are The Main Differences Between Estate Planning And Estate Planning For Medicaid?
If you expect to need Medicaid, then you should create or update your estate plan for this potential. The truth is, that estate planning and estate planning for Medicaid are two different animals. When you are planning with Medicaid as a factor you have to do so in such a way that preserves your… Read More »
Types Of Special Needs Trusts
When a person is receiving government benefits like Medicaid, these benefits do not cover all of the costs of daily life. Potentially, you may be taking care of these extra expenses for your loved one while you are still living, but if you pass on before your loved one, you will no longer have… Read More »
How Estate Taxes Work In Connecticut
A common question we get is, “Will my heirs have to pay an estate tax?” In most cases unless the current laws change, the answer is no. The estate tax only applies in cases where individuals die leaving millions of dollars in assets. Still, because laws change, it is important to understand how the… Read More »