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Timestamp: 2017-08-18 04:53:10
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Our Blog Categories | Connecticut Estate Planning Attorney
Asset Protection - Click here to view all posts
The latest posts for Asset Protection are listed below.
Problem No. 4 – Loss of Control In general, a joint owner cannot mortgage or sell property without consent from the other joint owners. While this may seem like an unlikely problem when the ...
Problem No. 2 – Needs-Based Benefits Eligibility Putting a child on the deed to a home (as a joint tenant) may result in a non-exempt transfer of a resource. Non-exempt transfers may result in a ...
This blog series will focus on holding real estate and accounts jointly, and specifically, the hidden perils associated with using joint ownership with your adult children as an Estate Planning tool. ...
Business Planning - Click here to view all posts
The latest posts for Business Planning are listed below.
THE LLC OPERATING AGREEMENT - Part Two
In the last post, we discussed Management and Voting, and Initial Capitalization as two very important aspects of a basic LLC Operating Agreement. Here are the other three most important provisions/ ...
THE LLC OPERATING AGREEMENT - Part One
What are the key provisions and necessary clauses of a solid LLC Operating Agreement? The rights of business partners or “members” as they are called in a limited liability company are not ...
Starting a Business, Part Four: Policy and Procedure
Starting a Business, Part Four: Policy and Procedure No business operation should start without a comprehensive plan and system in place as to the creation and implementation of policies and ...
Charitable Giving - Click here to view all posts
The latest posts for Charitable Giving are listed below.
1) Make a list of organizations, and do your due diligence – it is important to be sure that the charitable institutions you plan to assist are actually furthering your objectives. ...
Since we are in the midst of the season of giving, we thought this next blog series apropos. It is estimated that approximately 30% of a charity’s yearly donations are given to them in December. ...
How Can an Irrevocable Trust Benefit You? Part 2
Last time, we discussed asset protection and protection against estate, income, and capital gains taxes through irrevocable trusts. Here are some other benefits of irrevocable trusts: Special Needs If ...
Commercial Real Estate Transactions - Click here to view all posts
The latest posts for Commercial Real Estate Transactions are listed below.
The Client, Realtor, and Attorney Relationship - Part Two
What is the role of the real estate attorney in a residential transaction? The attorney in a residential real estate transaction must work closely with the realtor in order to best serve the client. ...
The Client, Realtor, and Attorney Relationship - Part One
What is the role of the realtor in a residential transaction? The dynamic between client, realtor and real estate attorney can be one which creates confusion as to exactly who is responsible for what. ...
Commercial Real Property Blueprint - Part 3: Leases, Assignments, Status Letters & Adjustments
You are under agreement and all necessary due diligence and permitting contingencies are completed. All that’s left is to gear up for closing, but…here is where the grind truly begins. ...
Commercial Transactions - Click here to view all posts
The latest posts for Commercial Transactions are listed below.
ABLE ACCOUNT: Is it the right tool for me? - Part Four
Uses of the ABLE Account A person receiving needs-based government benefits often has a dilemma when it comes to saving, whether for education or for unexpected events, all while maintaining public ...
ABLE ACCOUNT: Is it the right tool for me? - Part Three
Tax Benefits ABLE accounts have tax benefits similar to 529 accounts. Qualified distributions from the account are not counted as taxable to either the contributor or the beneficiary. Qualified ...
ABLE ACCOUNT: Is it the right tool for me? - Part Two
Financial Limitations on ABLE Accounts There are currently limitations as to the amount of savings that can be held in an ABLE account. The first such limitation deals with the annual contribution ...
Estate Planning for Retirement Plans - Click here to view all posts
The latest posts for Estate Planning for Retirement Plans are listed below.
How Can an Irrevocable Trust Benefit You? Part 1
Estate Tax Protection Insurance, real estate, brokerage and bank accounts, and other personal property can be transferred to your irrevocable trust to insulate the assets in your trust from inclusion ...
IRA Trust - protect your retirement plan benefits for your children
Many of you already have a Living Trust. Some of you may not because you were told that you didn't need one because the bulk of your assets were in an IRA or 401(k), or some other qualified plan. ...
Gifting - Click here to view all posts
The latest posts for Gifting are listed below.
3 Common Gifting Mistakes
Tis the season to be gifting...or so many of the headlines would suggest these days. Gifting can be a very effective estate planning tool, and for some, it accomplishes their more personal objective ...
Year-End Gifting in Connecticut for 2012
Many folks have been asking me about the gifting that they can do throughout December to take advantage of the current gift tax exemption being at $5.12 million. It is important to understand that ...
Holiday Gift Giving...and tax benefits
The holiday season is upon us, and many folks are trying to figure out what to get their loved ones (including me)! At the end of the day, we will figure it out and our families will benefit as a ...
Irrevocable Trusts - Click here to view all posts
The latest posts for Irrevocable Trusts are listed below.
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 ...
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: ...
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: ...
Joint Property - Click here to view all posts
The latest posts for Joint Property are listed below.
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 ...
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. ...
Why Is Holding Property Jointly a Bad Idea?
There are so many reasons to steer clear from jointly-held property that I could probably write a few pages on the subject. Since, however, I am sure most of my readers would prefer not to read ...
Marital Deduction - Click here to view all posts
The latest posts for Marital Deduction are listed below.
Should I just leave everything to my spouse to avoid Taxes?
A came across an interesting article on Al Davis today (click here for article). You might have heard about Al Davis's death if you have been watching the news or if you happen to be a sports fan. ...
BREAKING NEWS: If you don't want to be stuck with Connecticut Estate Taxes read this now!
On May 4, 2011 Governor Malloy signed the budget bill that reduced the Connecticut estate tax exemption from $3.5 Million down to $2 Million. This change goes into effect on July 1, 2011, and will ...
How can I give property to my non-citizen spouse and avoid paying estate taxes upfront?
Would you like to be able to pass on property in a taxable estate to your spouse (who isn't a citizen of the U.S. but does reside here) without burdening him or her with immediate estate taxes? Would ...
Medicaid - Click here to view all posts
The latest posts for Medicaid are listed below.
Personal Protection - Click here to view all posts
The latest posts for Personal Protection are listed below.
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 ...
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. ...
The 7 Levels of Asset Protection for Business Owners - Part 2
There are several levels of asset protection planning that can be implemented. Each level provides an additional layer of protection. Level One – Exemption Planning: Some assets are ...
Power of Attorney - Click here to view all posts
The latest posts for Power of Attorney are listed below.
Comprehensive Powers of Attorney - Part Three
Comprehensive Powers of Attorney – Part Three On October 1, 2016, the Connecticut Uniform Power of Attorney Act will take effect. The following is a general overview of the use and benefit of ...
Probate - Click here to view all posts
The latest posts for Probate are listed below.
Real Estate - Click here to view all posts
The latest posts for Real Estate are listed below.
Commercial Real Property Blueprint - Part 2: The Closing Agenda and Due Diligence
Commercial Real Property Blueprint : Part 2 – The Closing Agenda and Due Diligence Once a commercial real estate purchase and sale agreement is agreed to and executed by the parties, the ...
Revocable Living Trusts - Click here to view all posts
The latest posts for Revocable Living Trusts are listed below.
Special Needs Trusts - Click here to view all posts
The latest posts for Special Needs Trusts are listed below.
Taxes - Click here to view all posts
The latest posts for Taxes are listed below.
Wills - Click here to view all posts
The latest posts for Wills are listed below.
Commercial Real Estate Transactions (5)
Estate Planning for Retirement Plans (4)
Irrevocable Trusts (15)
Joint Property (3)
Marital Deduction (3)
Revocable Living Trusts (34)
Special Needs Trusts (15)
Wills (43)