August 2018 Archives
Parents in Connecticut may think about estate planning in a new light after the birth of their children. While many younger couples know objectively about the importance of an estate plan to lower taxes, avoid probate costs and reduce trauma to their loved ones, making a plan may not seem urgent. When a child enters the equation, however, planning for the future can become increasingly essential.
Connecticut is one of more than 40 states to have laws on the books that permit executors to manage digital assets in the same way they do traditional assets. The rise of digital assets in recent years, including cryptocurrency, has introduced some additional complexities to estate planning.
Estate plans in Connecticut can be extremely lengthy and complicated, and it's not uncommon for some plans to have unforeseen calamities just waiting to happen. One of the main sources of problems is surrogates, aka the people assigned to make big decisions for the families. These surrogates can have a big impact on family relationships and overall financial security. Unfortunately, they don't always make choices that are in the best interests of the family.
This is the season for home improvement. You may be noticing people in your neighborhood replacing their roofs, painting their porches or refreshing their landscaping. You may have some projects on your own calendar.