You may think estate planning is a task that can wait until you purchase a home or accumulate greater financial security. Many people tell themselves they do not need a plan yet because they rent, live modestly or are still working toward larger financial goals,...
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Estate planning
Common estate planning mistakes Connecticut families make
Estate planning mistakes often surface years later, when your family must rely on documents that no longer reflect your life. In Connecticut, state probate rules and execution requirements can turn small oversights into delays, higher costs and family conflict....
Do I need to update my will?
A will is a powerful estate planning tool that helps you protect your wealth and prepare for your future. However, just creating your legal document once in your lifetime and not sparing a thought on whether you need to update it may cost you to unintentionally lose...
Selecting the right person to be your personal representative
Estate planning forces people to ask deeply personal questions and consider many intense matters. They have to think about what may happen if they have a medical emergency and become incapacitated. They have to address the division of their property and some allocate...
What should you know about adding a trust to your estate plan?
One of the goals of an estate plan is getting assets to beneficiaries. Some people opt to do this through their will, but others choose to establish a trust that can make it much easier to get the assets to the intended individuals or other entities. A trust is a...
3 matters people can address in an advance directive
The best estate plans include more than just a will. People may draft powers of attorney and can also create trusts. They may also want to add an advanced directive discussing medical matters to their estate plans. Advance directives give people an opportunity to...
How can older adults avoid an involuntary conservatorship?
Older adults do not always retain their health as they age. People sometimes develop physical challenges. Other times, they may experience cognitive decline. Some people have issues with decision-making and memory as they age. Others may develop full-fledged dementia....
What are the requirements for a valid will in Connecticut?
Drafting a will creates crucial protections for an individual and the people they love. A will helps convey someone's last wishes to the probate courts and the person who assumes the responsibility of estate administration. The laws in every state are slightly...
What are asset protection and Medicaid planning?
Together with long-term care and Medicaid planning, estate planning is a crucial process for individuals and families in Connecticut. These types of planning involve making strategic decisions about assets and healthcare to ensure financial stability, minimize tax...
What happens if Connecticut residents die without a will?
Most responsible adults understand the value of estate planning. They know their loved ones will need protection and guidance if anything were to happen to them. They can still very easily find ways to delay the process. Most people don't want to think about dying or...