Estate Planning

January 4, 2019

Estate Plan Updates: Why They Matter and When to Make Them

The worst estate planning mistake you can make is failing to have a plan.

The second worst mistake is assuming that if you have a plan, you’re done.

The truth is that regularly reviewing and updating your estate plan is an absolutely critical part of responsible estate planning. Defining your wishes about what happens to your money and property after you die is not, unfortunately, a set-it-and-forget-it task. Life changes can render various parts of your Will and other estate planning documents out of date, and that can lead to some serious consequences.

December 9, 2018

Fundraising: Make Sure the Money Goes Where You Want It To

by Czepiga Daly Pope & Perri LLC

When medical tragedy strikes, family and friends may rally around an injured person. In the most serious instances – especially those that result in catastrophic injury or illness – the friend you were laughing with just yesterday may now be compromised for life.

And, if the injured party was the primary bread winner of the family, what happens now and how will the family be sustained? The exorbitant costs of long-term care become a reality, leaving questions for the family such as:

How will a mortgage payment be made?
How will health insurance be maintained?
How will the injured person cover basic necessities for his or her family?

November 1, 2018

What is Per Stirpes?

by Czepiga Daly Pope & Perri LLC

Some words in your Last Will and Testament may seem like a foreign language to you, but they could have significant impact on your beneficiaries.

Per stirpes, a Latin phrase that means “by the roots,” is used in many Wills to define how your estate is divided upon your death.

But what does it mean?

Per Capita vs Per Stirpes

A more common phrase, per capita, may help you understand the meaning of per stirpes. Per capita means “by the head.”

Here’s a situation to illustrate the difference between per capita and per stirpes.

Say you’re a widow. The value of your estate at the time of your death is $1 million. You have two children, Jennifer and Ryan. Jennifer has two children, and Ryan has one. Continue reading

September 6, 2018

Do-it-yourself Wills: Don’t Risk It!

by Czepiga Daly Pope & Perri LLC

Thinking of creating your own Will or other estate planning documents? After all, there are lots of web sites with legal document templates available – they make it sound easy.

And of course there’s the cost savings. Why pay a Connecticut estate planning lawyer for something you can do on your own?

The answer is simple: There’s a darn good chance that do-it-yourself legal documents might end up costing you, and your loved ones, more than you think.

If it’s not tailored to where you live…

…then there’s a chance that the document template language isn’t relevant for the state or county you live in. Each jurisdiction has its own laws and regulations – and they change. Filing a document that isn’t appropriate for your state could render your papers null and void.

Think about how that could impact your loved ones after you die.

Continue reading

August 24, 2018

Why An 18-Year Old Needs An Estate Plan

by Czepiga Daly Pope & Perri LLC

By Lara Schneider-Bomzer

When young adults turn 18, they may be ready to head off to college or move out on their own and into the workforce.

But, don’t let out of sight be out of mind!

With these rites of passage comes new challenges and responsibilities. And one of them, you may be surprised, should be to prepare estate planning documents.

While many of you may have a power of attorney, an appointment of a health care representative and a Last Will and Testament as part of your estate plan, how many of your children and/or grandchildren have one as well? Continue reading

July 27, 2018

Choose Your Trustees Carefully – Comic Book Legend Didn’t

by Czepiga Daly Pope & Perri LLC

By Jeff Rivard

Nobody plans on being isolated and vulnerable. But unfortunately all too many elders in Connecticut face that phenomenon every day. The sad circumstances of 95-year-old Stan Lee, the legendary creator of Spider Man, Iron Man, and hundreds of other beloved comic book heroes and villains, can serve an illustration of the kind of issues faced by many of our older clients.

Mr. Lee had a long, prolific career as a writer, editor, film producer, and publisher. He also served for many years as the editor-in-chief and publisher of Marvel Comics. Thanks to his professional success, Mr. Lee’s wealth is currently estimated at approximately $50 million.

April 26, 2018

What is the Connecticut MOLST Form?

by Czepiga Daly Pope & Perri LLC

By Lynda Lee Arnold

Maintaining control over medical care can be challenging in the best circumstances, but we face even more layers of complexity when dealing with the physical and emotional challenges of serious, life-limiting illness or advanced progressive frailty.

Whether you are concerned about ensuring that your own care goes as you intend, or want to protect and respect the wishes of a loved one, there is a relatively new type of medical form – the Connecticut MOLST form – that may help provide some peace of mind.

April 5, 2018

Looking Out For Your Grandkids: 3 Ideas to Pass Along

by Czepiga Daly Pope & Perri LLC

Becoming a grandparent, like becoming a parent, is a life-changing experience. There’s so much to look forward to—not only the arrival of the new baby, but also the transformation of your child into a parent.

As you may recall, that journey is filled with wonder and joy, but in the whirlwind of joyous preparation (and a thousand questions about everything from car seats and baby swings to college savings plans), some things fall through the cracks.

One important thing that gets overlooked more often than it should is estate planning.