Beth was patient and kind with my confused, elderly, parents. She discussed, on our level, what needed to be done with my future. Mom and Dad walked away feeling happy and secure that their last wishes would be attended to. The very difficult discussion of the end of life was amazingly easier with Beth at … Read More
Category: Wills Trusts Estates
Estate and Gift Tax 2022
Categories: Taxes, Wills Trusts EstatesFederal Estate and Gift Taxes The federal estate and gift tax exemption represents the amount that an individual may gift or transfer at death without the payment of any federal transfer tax. The federal estate and gift tax exemption for 2022, indexed for inflation, is $12.06 million, up from $11.7 million in 2021. The generation-skipping … Read More
What is a ‘Dynasty Trust’
Categories: Wills Trusts EstatesA dynasty trust is a long-term trust created to pass wealth from generation to generation without incurring transfer taxes such as estate and gift tax. The defining characteristic of a dynasty trust is its term; it can survive for 21 years after the death of the last beneficiary who was alive when the trust was … Read More
A Year-End Planning Guide
Categories: General, Wills Trusts EstatesA Year-End Planning Guide A lot can change during a year, so an annual financial checkup is always worthwhile. Here are a few things to consider as you approach the end of the year and prep for 2022. Markets were dynamic throughout 2021, driven by a robust recovery from pandemic-driven lows in 2020. Prices and … Read More
Connecticut Legislature Passes Overhaul of Connecticut Trust Law
Categories: Wills Trusts EstatesConnecticut Legislature Passes Overhaul of Connecticut Trust Law Published by The National Law Review Article By: Leonard Leader Michael T. Clear Veronica R.S. Bauer Robert W. Benjamin Karen L. Clute Daniel L. Daniels Effective January 1, 2020, there will be significant changes to Connecticut law concerning the formation, administration and termination of trusts. The recently … Read More
What is a “Dynasty Trust”
Categories: Wills Trusts EstatesWhat is a ‘Dynasty Trust’ A dynasty trust is a long-term trust created to pass wealth from generation to generation without incurring transfer taxes such as estate and gift tax. The defining characteristic of a dynasty trust is its term; it can survive for 21 years after the death of the last beneficiary who was … Read More