Let’s set the stage. You are a professional service provider and are concerned about professional liability exposure. Or you are engaged in a business that is high risk and you are worried about being sued.
So your lawyer said put all your assets in your spouse’s name.
Well, that generally works. But the solution creates its own problem, which is shown by the following example of a married couple. Continue reading
Well, well, well, what do you know. Congress once again might tinker with the estate tax.
This is something they are wont to do with new administrations and when certain legislators want to make a statement.
Given the recently failed “repeal and replace” of the Affordable Care Act and what appears to be President Trump’s next focus—income tax reform—it is hard to tell whether estate tax concerns will get sufficient attention for any legislative changes. Or whether sufficient votes could be mustered for any changes to the estate tax. Continue reading
I just read a lot of detail on the Governor’s proposed budget that he released this week. In the midst of the drastic news about expenditure cut, there was actually some good news.
The Governor is proposing to increase Connecticut’s gift tax and estate tax exemption to be at the same level as the federal government’s.
Currently the Connecticut exemption amount is $2.0 million and the federal exemption is $5.49 million. The increase in
Connecticut Estate Planning Attorneys Blog
