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Estate Planning Archives

Three common mistakes when using DIY estate plans

Putting together an estate plan is a unique process for everyone. Although legal professionals will caution against the use of do-it-yourself (DIY) estate planning tools, nothing sends the message home better than real life examples of the errors that can occur when using these fill-in-the-blank documents.

When does your will need to be revised?

Your will protects your personal wishes and your family's legacy. That will you made five or 10 years ago needs some changes. Like a house, your will needs minor updates and changes as time progresses. At home, the paint on your wall may have started to chip or the large family picture on your mantle may need replacing. Similarly, it is important to update your will when you have family or circumstantial changes. 

Prepare for your pet’s future with a trust

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 similar level of care throughout the pet’s life.

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.

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 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.

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