Burlington Estate Planning Attorney

Helping Families Plan for the Next Chapter of Their Lives

Estate planning is one of the most effective strategies to ensure your family has the financial resources they need after you pass away. Although it can be emotionally challenging to contemplate your own death and what life will be like for your family, planning today will provide everyone with the peace of mind they need to face the future confidently.

The Law Offices of Ericson, Scalise & Mangan, PC, is a law firm committed to helping individuals and families with their estate planning needs. Our dedicated attorneys and legal staff have years of hands-on experience and will provide the personalized representation you need as you plan for what lies ahead. Contact our law firm today to schedule a consultation to learn more about our legal services.

What Happens to My Property If I Don’t Have a Will in Connecticut?

There is a common myth that close family members will always inherit everything if there is no will. In Connecticut, if an individual dies without leaving a will, they are said to have died “intestate,” and the state’s intestacy laws will dictate how assets will be divided among heirs.

The first steps will be for the Probate Court to appoint an administrator, often a surviving spouse or other close relative, to manage the estate, and pay funeral expenses, debts, and taxes. The administrator will also be responsible for distributing assets to all rightful heirs and beneficiaries.

Without a will in place, your spouse’s share of your estate depends on the state’s intestacy laws. If you are married with children, your spouse and children will each inherit a portion of your estate. The percentage each will inherit will depend on whether your spouse is also your child’s parent. If you have a spouse but no children, your spouse will inherit your entire estate. If you do not have a spouse or children, your estate may transfer to your parents, siblings, and other immediate relatives.

How Can I Incorporate Medicaid Planning into My Estate Plan?

One of the concerns for many adults is how they will pay for long-term care as they grow older. Elder care issues, such as Medicaid planning, may present complexities for those without legal training. Due to the substantial costs of nursing home care, most individuals are forced to rely on Medicaid to pay for expenses.

Medicaid has strict rules regarding how many assets you and your spouse can have and qualify for benefits. In most cases, applicants are only allowed to have up to $1,600 in countable assets if they are applying only for themselves. Medicaid also has a five-year look-back period to determine if applicants have given away or sold assets for under fair market value, which can result in a penalty period, delaying the applicant’s eligibility.

Some of the most standard methods that can be used in Medicaid planning include:

Medicaid Asset Protection Trusts (MAPTs): Assets placed in these irrevocable trusts are no longer considered part of your property and are therefore exempt from Medicaid’s countable assets. To ensure that your assets are protected, a MAPT must be created at least five years before applying for Medicaid benefits
Spend down assets: A knowledgeable lawyer may be able to help you “spend down” on non-countable assets that will not result in a Medicaid penalty, including prepaying for reasonable funeral and burial expenses or home modifications needed for medical equipment

To ensure that you meet all state and federal regulations, it is best to consult an experienced estate planning attorney like those from the Law Offices of Ericson, Scalise & Mangan, PC, to ensure you can meet all Medicaid eligibility requirements.

How Can I Help My Loved Ones Avoid Probate?

One of the primary goals of estate planning is to help families and other beneficiaries avoid probate. Under Connecticut law, all estates except those valued at under $40,000 with no real property must go through the probate process. The probate process includes validating the decedent’s will, paying debts and taxes, and distributing the remaining assets to heirs and beneficiaries. Depending on the circumstances involved, probate can be costly and time-consuming, especially for those who need access to critical financial resources.

Some of the estate planning methods that can be used to help families avoid probate include:

Living trust: Unlike a will, assets placed in a trust are exempt from the probate process, allowing your beneficiaries to receive them quickly. Additionally, unlike a will that becomes public knowledge once it is probated, the terms of a trust remain private
Joint ownership with rights of survivorship: When a property is owned jointly with rights of survivorship, and one person dies, the other automatically inherits the property without probate
Beneficiary designations: Beneficiary designations on retirement accounts such as 401(k)s, IRAs, life insurance policies, and bank accounts allow beneficiaries to receive assets automatically after the owner’s death without the need for probate

Contact Our Burlington Estate Planning Lawyers So We Can Start Planning for Your Future

Law Offices of Ericson, Scalise & Mangan, PC is a Connecticut law firm dedicated to helping clients with their estate planning needs and helping them rest easy knowing they are prepared for what lies ahead. When you reach out to us for assistance, we will build a custom-tailored estate plan that addresses common legal issues that may arise. For example, as you age, you must prepare for your future by incorporating Medicaid planning into your estate plan to protect your hard-earned assets. Or suppose you want the assurance that if you were to pass away suddenly, your minor children would be well-cared for.

Regardless of your needs, our Connecticut estate planning lawyers have the skills and experience it takes to ensure you can face the future with confidence. For your convenience, you may call our New Britain office at 860-854-3809 or Avon office at 860-854-3545 to schedule a consultation to learn more about our legal services.