An executor or estate administrator in Connecticut has several roles that all point towards distributing assets to the decedent's beneficiaries. But, this can't happen before things like taxes and any outstanding debts are sorted. For taxes, there's a specific...
If you are an adult residing in Connecticut, you should have an estate plan. Ideally, this plan will have a will or trust, power of attorney documents and anything else that you might need to adequately manage or settle your affairs. After creating such a plan, it is...
Most financial planners agree that individuals should revise their estate plan after every significant life event. These events can include the death of a loved one or the birth of a child. One of the most common events, however, is the end of a marriage. After your...
Good estate planning accounts for all of your assets in the event of your passing. Accounting for a business you own specifically calls for a succession plan. Unless you expect your business to default away after your passing, choose a successor for your company...
A revocable living trust can be an effective tool for managing your Connecticut estate. However, there are certain items that may not be worth including in such a trust. Those assets include life insurance policies, ownership rights to a vehicle and qualified...
The divorce may be final but that doesn't mean your financial connection to your former spouse has been severed. Chances are, your ex's name appeared on at least one Connecticut financial document that still needs to be updated. There are a few more things you need to...
Many Connecticut residents mistakenly believe that estate planning only benefits older people with extreme wealth, but the benefits of estate planning are available to many people outside of this group. A well-planned estate is a useful tool for anyone who owns assets...
Connecticut business owners are strongly encouraged to include company assets in their estate plan. This is true whether you plan on passing the company down to future generations or plan on selling it and giving the proceeds of the sale to your heirs. Business assets...
Estate planning enables the deceased to provide genuine comfort to surviving family members during their time of need. But, it needs to be thoughtful and done properly to get the desired effect. It is much more than an inventory of assets and where they should go, but...