The dogs, cats and other animals we share our homes with become more than just pets. For many, these furry, feathered or even scaled companions become family members. As such, an increasing number of pet owners are taking steps to better ensure their pets receive a...
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...
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...
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....
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...
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...
Families with a high net worth may use a Family Limited Partnership (FLP) as part of their estate plan. This legal structure can be designed to provide three distinct advantages: Tax savings. The owner can have an FLP structured to reduce tax obligations. For example,...
Estate planning plays a vital role in protecting your loved ones and your legacy. Unfortunately, common estate planning myths can push people down the wrong path when it comes to protecting their wishes and their family.Myth: Not everyone needs an estate planOne of...
A second marriage brings unique estate planning needs. Although some may view the need to discuss an estate plan as a relatively morbid topic, the discussion can prompt a conversation about future goals. Five specific documents to discuss when outlining these goals...
An irrevocable trust is a legal tool that can help shelter funds from creditors. A wisely structured trust can help to better ensure an intended heir not only receives their inheritance but also gets an inheritance that is protected from attempts by creditors to claim...
