Imagine this… After your death, your daughter is having serious financial struggles and the money you’ve bequeathed to her would pull her out of financial misery. It would help her to pay your funeral and other outstanding expenses. But, because by law your estate must pass through probate, it will…
I inherited what from Uncle George? What if I don’t want it? You barely knew your uncle. When he dies, you learn that he named you his sole beneficiary in his Will and your children as his contingent beneficiaries. Sounds like good news, right? Yes and no. Some of the…
By Linda Raineault We keep hearing about delaying Social Security benefits. But we’ve waited years to tap into this pot! Well, if you can be patient, you may discover that patience is more than just a virtue. The good news is that medical science is extending our life expectancy in…
When we get to a certain age, we sometimes experience what is jokingly referred to as a “senior moment.” We forget a name, miss an appointment or overlook a bill. But if forgetfulness or confusion starts to seriously interfere with daily life, it’s time seek medical help. The symptoms could…
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…
You have probably heard the phrase “spend down” – something you could do to reduce your assets which would help to qualify you for Medicaid. A prepaid funeral contract is one of those items that are considered exempt. In other words, its value won’t be counted when the Department of…
Gifting money is a nice thing to do for a friend or family member, but—as the saying goes—no good deed goes unpunished. If you’re not careful, your gift could turn out to be subject to the federal gift tax of up to 40%. In part one of this series, we…
By Carmine Perri If you or your loved one is in a nursing home, you need to know your rights! Once you understand what they are, you can better stand up for them. Just as you are protected in your own home by a set of laws, residents of nursing…
When you got married you hoped for the best, but unfortunately, things didn’t turn out the way you expected. Whether your divorce in Connecticut is final or you’re just beginning the process, it’s a good idea to take a hard look at your estate planning documents. Make sure they reflect…
What is a waiver program, and what exactly is being waived? Connecticut provides supports to eligible individuals in community-based settings through special programs called Connecticut Medicaid waivers. What’s being waived is institutional care in a nursing home, which most individuals and families would prefer to avoid. Fortunately for Connecticut residents,…