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June 2019 Archives

Two things you may not know about irrevocable trusts

The Tax Cuts and Jobs Act (TCJA) increased the estate-tax exclusion rate. The rates increased from approximately $5.5 million to $11.4 million per person to or $22.8 million for a married couple. As a result, it is wise to consider putting certain estate planning tools into effect now to take advantage of these rates.

3 ways to protect assets while planning for long-term care needs

Long-term care can be very costly. Those who need to plan for this expense may find themselves trying to figure out how to pay for a loved one to receive the care they need without depleting the assets the family has worked for generations to accumulate. This may leave the family wondering if it is possible to plan for long-term care expenses and protect assets from depletion.

Protect your family and your legacy with an estate plan

Don't have an estate plan? You are not alone. A 2017 study done by Caring.com found that only 42% of Americans have an estate plan. Unfortunately, the consequences of not having an estate plan can wreak havoc on your loved ones. Why? Because the state of Connecticut is responsible for distributing your assets and naming guardians for any minor children if you die without a will. 

Estate planning for Baby Boomers: What do I need?

Baby Boomers and those who came before, referred to as Traditionalists or the Silent Generation, have different estate planning needs compared to Millennials and Gen Xers. Gen Xers and Millennials are often concerned with planning for the care of their children while Baby Boomers and Traditionalists need to account for a lifetime’s worth of accumulated assets.

Tips to keep a loved one safe in a long-term care facility

A recent case out of Texas is calling attention to the need for family members to better ensure their loved ones are safe at long-term care facilities. The case involves an individual that gained access to long-term care units and allegedly murdered inhabitants. The prosecution states the individual would pose as a maintenance worker to gain access to the unit, smother the resident and then take jewelry and other valuable items.

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Connors & Sullivan attorneys at law, pllc

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