Reasons to choose an irrevocable life insurance trust
Financial planning is a critical aspect of ensuring the well-being of loved ones. Life insurance plays a vital role in this process for Connecticut residents, providing a financial safety net for...
View ArticleTransforming your assets into exempt ones
Asset protection planning is essential for several reasons. For one, it ensures that you have resources available for your needs and goals. But more importantly, it shields your assets from potential...
View ArticleHow to strategically use depreciation for business assets
When you own a business and want to minimize your tax liabilities, one option is learning to strategically utilize depreciation on your business assets. U.S. News and World Report explained for 2023,...
View ArticleMethods to keep your business and personal assets separate
A lawsuit that deprives you of your personal savings is a possibility any business owner should guard against. No matter whether you are new to entrepreneurship or a seasoned company owner, you should...
View ArticleHow supplemental needs trusts can protect family wealth
Benefits programs like Social Security Income can help people living with disabilities and health conditions meet their basic needs and live fulfilling lives. Over 48 million people received SSI...
View ArticlePreserving your passion through art and cultural philanthropy
Art and cultural assets hold a special place in the hearts of many individuals, regardless of their financial means. Whether it is a cherished art collection, rare antiques or cultural artifacts, these...
View ArticleUnderstanding how QTIP trusts work
Two primary purposes of estate planning in Connecticut are to protect your assets and provide a surviving spouse with income after your passing. Several types of trust can accomplish these goals, but...
View ArticleReducing tax liability
Taxes are a necessary, if disliked part of life. However, many individuals fail to use the tools available to reduce their tax burdens. Many are not even aware they exist. By taking advantage of...
View ArticleShould I consider a grantor-retained annuity trust?
In the realm of estate planning, the grantor-retained annuity trust emerges as a powerful tool for Connecticut residents seeking to preserve and transfer their wealth strategically. This financial...
View Article5 types of special needs trusts
The National Organization on Disability reports that almost 54 million people in America have special needs. Setting up a special needs trust is one way for families to provide for these disabled loved...
View Article6 elements every special needs trust should have
The Pew Research Center reports that 41.5 million Americans have special needs. Many people worry about what will happen to loved ones with special needs after they pass away. Setting up a Special...
View ArticleThe risk of using a pour-over will for a high-value estate
Individuals with particularly valuable property often need to establish complicated estate plans. They have to worry about collection activity and taxes while also providing resources for their loved...
View Article3 ways estate planning can minimize the impact of taxes
Estate planning in Connecticut is not just about passing on your assets. It is also about preserving your hard-earned wealth for your heirs. One significant aspect of this preservation is minimizing...
View ArticleCreating a living trust
A living trust is a legal arrangement that enables you to control the distribution of your assets during your lifetime and after your death. This kind of trust helps ensure you are in charge of your...
View ArticleHow to leave conditional gifts in your living trust
Planning for the future is a responsible step to take. One particular way to secure your assets for your loved ones is by creating a living trust. A living trust allows you to dictate how your assets...
View ArticleHow different charitable remainder trusts pay out
Charitable remainder trusts are a way for you to donate to a charity while still providing income for yourself or your loved ones. As part of setting up this trust, you should determine which kind of...
View ArticleStrategic gifts can still contribute to estate tax risk
Those who achieve economic success often hope to pass their good fortune to others when they die. Estate plans allow individuals to choose specific beneficiaries to receive their assets, including...
View ArticleBuilding wealth for generations: Creating a dynasty trust
Planning can secure your family’s financial stability for future generations. One way to accomplish this is by establishing a dynasty trust. This type of trust allows you to preserve and grow your...
View ArticleWhat is the ABLE Act?
The Achieving a Better Life Experience Act allows individuals with disabilities to save money in a tax-advantaged account for qualified disability expenses. Connecticut implemented the ABLE Act in...
View ArticleFAQs about trusts in estate planning
When planning for the future, considering a trust as part of your estate plan can be a wise choice for managing and protecting your assets. Trusts can seem complex, leaving many people with questions...
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