In 2020 – as COVID-19 wreaked havoc on the economy and our very way of life – 2.4 million people who weren’t originally planning on it decided to retire. Two years later, in March 2022, more than half of those folks (1.5 million) had returned to work.
This “unretiring” trend was the topic of research conducted by T. Rowe Price. Their survey-based Retirement Saving & Spending Study included the following highlights:
Attorneys Brendan Daly, Carmine Perri and Paul Knierim.
We are pleased to announce that our attorneys have been named to the Connecticut Super Lawyers list for 2023!
The Social Security Administration (SSA) recently announced that Social Security and Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) monthly benefits will increase 3.2 percent in 2024.
Social Security recipients will see this cost-of-living (COLA) increase by January 2024, while SSI recipients will see the change go into effect beginning on December 29, 2023.
For SSI, the maximum payout for 2024 will rise to $943 per month (up from $914 per month). For individuals on SSI with an eligible spouse, the maximum monthly payments will total $1,415 (up from $1,371 per month).
How do you know whether or not you’ll need to go through the Connecticut probate court?
To answer this question, first let’s understand what probate is and the purpose it serves.
Probate is the process for settling an estate under court supervision. It’s designed to serve as a protection against fraud by freezing the estate’s assets until a judge can confirm that everything is in order with the Will, beneficiaries, and creditors. Continue reading
Going through a divorce is an incredibly challenging and emotionally draining experience. It’s a time of upheaval, where everything you once knew undergoes a profound transformation.
Amidst the emotional turmoil, it’s easy to overlook practical considerations, such as updating your estate planning documents. Yet, failing to address these important legal matters during a divorce can lead to unnecessary complications and potential conflicts down the road.
There are two parts to making sure your estate documents accurately reflect your wishes during and after a divorce. First, you need to have them in place. Second, you need to be proactive about updating them in response to any changes in your circumstances.
Every so often, life has a way of throwing some curveballs.
Some are more minor in nature – a fender-bender when you are on your way to the store or a washing machine that suddenly stops working.
And, some are more serious such as a health scare or sudden death of a loved one.
The parent/child relationship is a complex one, and often becomes more so as the parent ages and the caregiver roles are reversed. It’s not easy to support a parent who is going through this experience. And it’s even harder when they consistently refuse help.
When trying to persuade an elderly loved one to accept help — either from you or from a professional caregiver — you’ve probably found that navigating personalities, anxiety, shame, frustration, and plain old stubbornness can be exhausting and highly stressful.
However, there are steps you can take to negotiate a care plan that works for both you and your loved one.
Few events in life are as difficult and overwhelming as the death of a spouse, especially in the first year after the loss.
Whether or not you consider yourself prepared – mentally, financially, and legally – the reality is that the loss of a spouse is a devastating event no matter how much advanced planning you have done.
In addition to the sorrow itself, the passing of your life partner can create a whirlwind of uncertainty that leaves you trying to figure out how to get through the first few days and weeks, then the first year, and ultimately, the path you want to take in the next chapter of your life.
Maybe you have a friend or family member that has talked about setting up a “living” or “revocable” trust, and now you’re wondering exactly what that is and whether it might be an appropriate estate planning tool for you. Fair question.
A living trust is not necessary for everyone, but – in the right situations – including it in an estate plan offers important advantages.
This overview covers the most frequently asked questions about living trusts, and also provides links to further reading that can help you determine if a trust might be a good fit for you.
No one looks forward to applying for Medicaid. It’s a complex and grueling process, the rules are always changing, and there are so many things that can go wrong.
Unfortunately, as is often the case, there are companies that are only too willing to take advantage of this situation. These companies claim to be able to process your Medicaid application at a low cost. But these non-attorneys may cause their customers great harm – putting Medicaid applicants at risk for a number of serious issues including denial of eligibility, severe tax liability, loss of spousal assets and other situations that may threaten the client’s life savings and other assets.
Often it is a nursing home that refers Medicaid applicants to these companies, so there is the very real possibility of a conflict of interest.
Connecticut Estate Planning Attorneys Blog