talk to loved ones 400 x 268 px

Talk to Loved Ones About Your Estate Plans

Many people are uncomfortable discussing with their loved ones how they plan to distribute their estates. Perhaps you do not want your children to realize how much they may receive after your death, or perhaps you think your choice of heirs could change in the future. If you do not discuss your estate plans, disagreements and […]

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Divorce and Finances

While divorce may end a marriage, it does not end obligations to one another. In many relationships, one spouse is more financially well-off than the other. In a divorce, this earning discrepancy means that the poorer partner is entitled to receive spousal support, or alimony, to help them establish a new, post-divorce life. Alimony may be […]

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A Fresh Look at Distributing Inherited Assets

In theory, parents can get as specific as they want, deciding which children and grandchildren should get the fancy lamp from the living room or the painting of the ship in the dining room. But unless they are items of great intrinsic value, that usually isn’t done. Even if an estate is left equally to […]

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Understanding the Difference Between a Will and a Living Will in Connecticut

In Connecticut, there are distinct legal documents that serve different purposes when it comes to estate planning and healthcare decisions. These documents often include a will, and a living will. While both play significant roles in outlining an individual’s wishes, they serve different functions and address different aspects of a person’s life. Let’s delve into […]

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Protecting Assets of a Parent in Failing Health

When you’re contemplating your old age — or caring for someone who is elderly — you first have to focus on three key items: Taking care of oneself and one’s possessions. To whom do you wish to leave a particular possession? Ensure that you have a valid up-to-date will or trust documents, and a durable power […]

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Qualifying for a Mortgage With Retirement Income

It used to be difficult for retirees to borrow, buy, or refinance a mortgage because lenders insisted on seeing their current income – the kind you get from having a job. Thankfully, Freddie Mac has guidelines for lenders that helps them use retirement funds to qualify borrowers for a home loan. When your loan is guaranteed […]

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The Step-Up in Basis Rule is an Heir’s Best Friend

If you receives assets that were included in a person’s estate, you get a stepped-up cost basis.  That means that you determine any gain or loss on the future sale of that asset using the date of death value of the person from whom you inherited the asset. The step-up tax adjustment has been under […]

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Questions to Ask Before Meeting with an Estate Planning Attorney

Prior to making an appointment with an estate planning attorney, ask yourself a few questions to come prepared to the meeting. If you don’t know the answer, come with prepared questions for your attorney. Doing this will ensure the best use of your time and money. What makes up my estate? Your estate consists of […]

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doll couples with house and money bag

Give Your Heirs a Fair Shake

For some simple estates, all you may need to do is split your assets in equal proportions among heirs. In other instances, however, you have more complex issues to confront: How can you apportion a family business, especially one to which all beneficiaries do not contribute the same sweat equity? How should you approach real […]

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African American couple signing documents

Managing an Estate During Probate

Executors have a high level of responsibility for as long as the probate process drags on — which can even be years in some cases. Your main objective? Prevent estate assets from being damaged or depreciated. You must make decisions based on the best interests of beneficiaries and creditors. Any investments you make should be […]

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