Exciting news for estate planning practitioners and their clients!
Recently, on the very last day of its legislative session, Connecticut’s General Assembly enacted HB 7104 “An Act Concerning Adoption of the Connecticut Uniform Trust Code” (the “Act”).
We spend our lives doing everything we can to provide for our loved ones. We work hard to make sure they have the material, emotional, and financial resources they need to feel secure and cared for.
We do whatever we can to help them achieve their goals.
But, life can be unpredictable; and you can’t plan for every potential eventuality. Life insurance provides a means by which you can preserve your family members’ well-being and ensure their ability to pursue their dreams.
And yet, many people choose not to purchase life insurance. Go figure! Continue reading
Seeking competitive advantages is a key part of any business’ survival strategy. Whether you are running an auto parts store, advertising agency, or global tech firm, your venture has a better chance at long-term success if you are able to uncover unique ways to gain an edge over your competitors. Today, some of the savviest corporations and small businesses are doing just that by hiring people with disabilities.
There are a great many misconceptions about how employees with disabilities affect the efficiency and profitability of the companies that hire them. Far too many people still believe long-outdated ideas about the capabilities of individuals with physical and intellectual disabilities. Recent research, however, is breaking down these archaic notions to reveal the huge potential in an inclusive and diverse workforce that includes people with disabilities.
Take for instance the findings of the U.S. Department of Labor, which reported that employers who embrace disability as a core part of their staffing plan typically see:
It’s never too late to explore your artistic side. In fact, many people discover that the second half of life is the perfect time to learn an art or craft.
Whether you decide to pick up a pencil or a paintbrush, sit down at a potter’s wheel, or strap on some dancing shoes, the arts offer countless opportunities for enrichment, fulfillment, and joy.
Many of our most beloved artists got their starts later in life. Monet didn’t get serious about painting until he was in his forties. Forty may be young by today’s standards, but in Monet’s day the average life expectancy hovered around the early sixties, making forty almost “venerable.”
On January 1st of this year, many tax changes were introduced and implemented – and all tax payers are affected. Here are just some of what’s new for this year…with more changes sure to come.
STANDARD DEDUCTION
The 2019 standard deductions go up a bit.
There is no right way to grieve the loss of a loved one.
There is plenty of advice, but anyone who has first-hand experience will tell you that each of us needs to find our own way. Coming to terms with such loss is a process, and it’s one that can take many forms.
An important part of the process for many is memorializing the deceased in some way. Traditionally, commemoration of an individual’s life takes place over the course of a wake, a funeral, and a burial. These rites and rituals, with deep cultural and sociological roots, often help to give friends and family some closure. At the same time, the grave site provides a physical space where those in mourning can go to grieve, to remember, to converse with the dead.
So you’ve decided a living trust is appropriate for you. You’ve met with your attorney, made all the decisions about how you want any money in the trust to be spent, you’ve signed the document and placed it in a safe place.
But you’re not done.
Funding your revocable living trust is just as important as setting up your trust in the first place.
You know about Wills – hopefully you have one! You probably are also familiar with other estate planning documents such as a power of attorney and an advance health care directive.
But do you know what a trust is? Do you know what purpose it serves?
And…should you have one?
With summer upon us, it’s time to take full advantage of all the beautiful and unique places and spaces Connecticut has to offer. We are lucky to have a truly outstanding array of destinations to choose from, here in the Nutmeg State. People come from all around to enjoy the charm of Mystic Seaport, photograph our iconic lighthouses, and live it up at Foxwoods or Mohegan Sun.
While each of these high-profile locations offers a wonderful experience, some of our most delightful treasures are less well-known spots that are a little off the beaten path. Here are ten of our favorite “insider” destinations:
So someone, in his or her estate plan, has asked you to be their trustee. What does this mean? What are the responsibilities of a trustee?
A large part of the word “Trustee” is TRUST. If someone trusted you enough to choose you as the trustee of his or her property, it’s quite an honor. It’s also a big responsibility. What does a trustee do?
Maybe this is the first time you’ve ever been asked to administer a trust and you’re not sure what’s involved. If it’s a simple trust, your job could be finished in about six months, once the trust assets have been distributed to the beneficiaries. Continue reading
Connecticut Estate Planning Attorneys Blog