Category Archives: Estate Planning
Explaining Beneficiary Designation in Estate Planning
There are several decisions to make when putting together an estate plan. Beneficiary designation is one of them. Essentially, when you are engaged in the estate planning process, you get to make decisions on how you want your assets and wealth to be distributed and used after you pass on. You also determine who… Read More »
Estate Planning For Minor Heirs
When young children become part of a family, this is a life event that requires revisiting one’s estate plan. It is imperative that young children are considered in an estate plan should the unthinkable happen. Because minors cannot manage money and assets by themselves, there are methods and estate planning tools that can be… Read More »
How To Plan for The Future of a Child with Brain Injury
Brain injuries can be genetic, a result from trauma during labor and delivery, or occur traumatically later in life. Each day in the United States, there are approximately 5,000 individuals who will be diagnosed with a brain injury. Currently, across the country, the Brain Injury Alliance indicates that there are 5,300,000 Americans living with… Read More »
Are Special Needs Trusts and Supplemental Trusts the Same?
When considering special needs planning, two terms are usually used, which are special needs trusts and supplemental needs trusts. As a result, there can be some confusion as to what they both mean and if they are different or the same. Both of these terms essentially mean the same thing and are intended to… Read More »
Third-Party Vs. First-Party Special Needs Trusts Explained
Special needs trusts serve an important role as an extra means of financial support for a loved one you have in your life that has special needs. Special needs trusts can be set up in a way that will not jeopardize your loved one’s ability to obtain the government benefits they need and are… Read More »
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 »