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...
Passing that beloved vacation home to your children
The family cabin up north, right on the lake and away from the hustle and bustle of the city, is a source of treasured memories for parents and children. It's natural to want to pass that gift on to ensure future generations can enjoy it in the same way.So how do you...
What is an advanced directive and why should I consider it?
Planning for the future can be a daunting task, especially when you don't even know where to start. One question to remember to ask is who makes decisions for you if you can't make them for yourself?One of those decisions could be related to advanced directives....
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...
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...
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...
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...