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…
By Jeff Rivard The saying “you can’t take it with you” is meant to remind people that no matter how much wealth you accumulate in your lifetime, you’ll have to leave it behind when you pass. Unfortunately, for your heirs, the same goes for your debts. Turns out that dying…
By Brendan F. Daly, CELA* The practice of elder law is unique – it is not exclusive to a specific substantive area of law—such as bankruptcy. Rather, a reputable elder law attorney is proficient in several substantive areas that may affect an entire demographic segment that comprise our clients: the…
Assigning and updating beneficiary designations for your retirement plans, life insurance policies, and annuities are tasks that notoriously get ignored. While the process itself is usually pretty straightforward — putting someone’s name on a form — the consequences of your choice can be fairly substantial. Don’t wait any longer! Who to…
By Beth Dance I have a vivid memory of adjusting my dad’s bow tie before we strolled down the aisle. For many brides, the ceremonious event of having your dad walk you down the aisle is emotional. That wasn’t me. I am very stoic, just like him. When he walked…
You’ve been blessed to find a love for a second time. Congratulations! A new (re)marriage can bring the joy of finding a loving partner twice in a lifetime and the promise of happy times to come. So, it’s no wonder that amongst newly remarried couples sticky topics such as finances…
By Brendan Daly I last saw my father on February 25th at his condo in Rhode Island. We had a wonderful day together—he showed off his new Subaru in a slightly harrowing ride, where he coasted through stop signs (aka the “Rhode Island slide”)—and I took my leave of him…
Even the most well-resourced and well-known people can get estate planning wrong. The recent headlines about the dispute over the validity of Lisa Marie Presley’s Will is just the latest in a long list of stories involving celebrities in the entertainment industry whose last wishes have created a lot of…
Giving gifts is a nice thing to do for a friend or family member, but, as the saying goes, “no good deed goes unpunished” – at least when it comes to the IRS. The federal government imposes a gift tax that is currently 40%. And if you live in Connecticut,…
It’s so confusing! HIPAA, Health Care Directives, Powers of Attorney. How does one differ from the others? A HIPAA Authorization, a Health Care Directive, and a Health Care Power of Attorney can easily be confused because all three have to do with your permission about your medical care and medical…