childrens trust

3 Tips For Creating a Childrens Trust

Creating a childrens trust does not mean you are creating irresponsible teenagers, driving fancy cars, and vacationing in Caan for the weekend. You may be picturing the old-school version of a “trust fund kid”. Don’t worry, I was too. But childrens Trusts are not just for the wealthy anymore. It’s a smart estate planning tool…

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growing tree with the word family - per stirpes

What Does Per Stirpes Mean

What Is Per Stirpes? The meaning of “Per stirpes” is a legal term (which in Latin means “by branch”) usually included in the Last Will and Testament or beneficiary designations for individual retirement accounts (IRAs). By branch, as in down the family tree branches. If a beneficiary (someone who would receive an inheritance), predeceases (dies…

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Estate Planning advice for parents with baby

#1 Estate Planning Advice For Soon-To-Be Parents

As a soon-to-be parent, you want to make sure that your little human is completely taken care of, from the minute you hear that first cry. The preparations begin months before the arrival of your bundle of joy, and the internet is full of all kinds of advice for parents, checklists, to-dos, tips & tricks,…

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benefits of a living trust

3 Simple Benefits Of a Living Trust

What Is a Living Trust? A living trust is an agreement in which a settlor (the person who creates the trust) appoints a trustee, to manage the assets within the trust, on behalf of the beneficiary or beneficiaries named in it. The beneficiary can be you or anyone else you name. It’s called a “living…

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what is probate - ct probate for dummies

Connecticut Probate Process For Dummies

If you are like most people, just the word Probate sounds so menacing that it can make your head spin. What is probate? Do you always go through probate when someone dies? Which assets get probated and which ones don’t? Do I need a probate attorney? How much does it cost? How long will it…

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joint tenancy vs. tenants in common

Joint Tenancy Vs Tenants-In-Common

If you’ve never purchased a property, you may not know what I’m talking about. Both Joint Tenancy with right of survivorship and tenants-in-common dictate how a property is owned and who inherits it when one or more of the owners passes away. In Connecticut, tenancy in common is the default interest for a deed with…

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