As part of our elder law and long-term care planning practice, we often recommend a reverse mortgage to our clients. And we are often met with resistance. One of the most common misconceptions about reserve mortgages is that if someone obtains this type of mortgage, all hope of ever having any equity to pass to…
As a lawyer who is passionate about educating the public, I find that a lot of people are unaware of certain laws that affect them. At the same time, certain laws seem to stick in people’s minds, even decades after the law has changed. How many of you have heard that you have to reinvest…
Will You Owe Taxes On Your Spouse’s Estate? Currently, the estate tax exemption in Connecticut is $12.92 million per person. So although an Estate Tax Return must be filed for every decedent, tax is due from very few estates. And even if the decedent’s assets exceeded $12,920,000, there is an unlimited marital deduction, so if…
