President Biden has introduced a plan to spend $400 billion over eight years on home health care and community-based care for elders and people with disabilities. The money would go to expand access to care and support higher-paying caregiving jobs. As the elder population grows, our long-term care system is becoming increasingly strained. The AARP found…
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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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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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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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Today’s video talks about the language of a statutory power of attorney document and the limitations it has when it comes “self dealing”. Essentially, your Power of attorney may not have the ability to transfer assets to themselves. This becomes a problem when you have a couple who are each other’s POAs. I hope this…
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We’ve all heard the terms “man’s best friend”, “fur babies” and “pets are family”, even I call my big furball dog my “firstborn child”. But unfortunately, according to the law, pets are still considered property. And the only way to protect your property is with an estate plan. A pet trust specifically tailored to include…
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Once you execute your estate planning documents, it is important to set up reminders to review these documents periodically. There are many life changes that can affect the decisions you’ve made regarding your estate plan and the people you’ve named in it. 1. The Law Changes When you executed your estate planning documents, you may…
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WILSON’S UNABRIDGED DICTIONARY: THE ALPHABET SOUP OF THE MEDICARE SAVINGS PROGRAM Estate Planning Attorneys are known for loving acronyms. We like to shorten the names of the tools we use and sometimes throw the terms around, forgetting that not everyone speaks Alphabet Soup. POA, HCD, SNT, QTIP, QPRT, ILIT are just some of the terms…
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Myths & Misconceptions Monday (Real Estate / Home Edition) Vlog #4: “I Need To Make Sure I Have And Keep The Original Deed To My House” Thinking that you need the original deed to your property, is quite a common misconception. And to be quite honest, makes sense right? I mean, you need the originals…
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Let’s talk about the power of attorney form and what it means in Connecticut! When it comes to legal matters, every state has its own rules and regulations. They even name the same documents differently. They may even have the same name but mean something else, depending on which state you are in. So it…
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