BREAKING NEWS: 12/3/24: Today a Federal Court in Texas ruled that the reporting requirements under FINCEN are unconstitutional. An Alabama federal court issued a similar ruling earlier this year and the federal government determined it applied to the plaintiffs of that case only, but the Texas case appears to apply to everyone, nationwide. Stay tuned……
Who’s Making The Decisions Around Here??? Let’s start at the very beginning. When a baby is born, the child’s parents make decisions for her. And as she ages into a toddler, child, and teenager, the parents have full legal authority. When the child turns 18, the parents DO NOT have the authority to make decisions.…
Definition of Conservator – A guardian or a protector nominated by the probate court to manage the financial affairs and/or personal affairs and daily life of the conserved person due to physical or mental limitations. Who Can Be a Conservator? It may be a single individual, a state official, a non-profit organization, a business, or…
Say someone who owns individually-titled assets with no beneficiary designation passes away. Whether they have a Will or not, the deceased person’s estate has to go through probate. In some cases, a probate bond is required by a Probate Court in CT. A probate bond is an insurance policy to protect the estate of the…
There Are Two Basic Types of Conservatorships In Connecticut One to manage the conserved person’s financial affairs (Conservator of the Estate) and one to manage their personal affairs (conservator of the Person). The Probate Court may appoint two separate individuals to perform these roles or one person to oversee both. Conservator of The Estate The…
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…
