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…
FALSE FACTS FRIDAY Issue 9: “If I Sell My Home, I Have to Reinvest in a More Expensive Home to Avoid Taxes” 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…
Will You Owe Taxes On Your Spouse’s Estate? Currently, the estate tax exemption in Connecticut is $7.1 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 $7,100,000, there is an unlimited marital deduction, so if…
