May 2019 Archives
Estate planning is not something that many people in Connecticut and elsewhere look forward to. Some people may lie to themselves to justify not creating a plan of their own. One lie that people common tell themselves is that they don't need a will because they don't have a lot of money. The truth is that a will can be helpful even a person does not have any money or assets of any kind. This is because a will can dictate who obtains guardianship of a minor child or whether an individual is cremated or buried.
Business owners in Connecticut may wonder if they should pay much attention to intellectual property matters. The answer is a resounding yes, and the reason is because IP is one of the most important assets a business owns. Trademarks, copyrights and patents, the three main types of IP, have some similarities, but there are also important legal differences worth noting.
The National Adult Protective Services Association says that one out of every nine seniors reported abuse, neglect or some form of exploitation. It goes on to say that out of every 20 aging adults, one reports suffering from financial mistreatment. To make matters worse, NAPSA believes that the numbers are actually much higher since victims often don't tell anyone about their plights.
A trust can be a powerful estate planning tool for a Connecticut resident. It can protect assets from creditors as well as minimize estate taxes owed. However, it is important that the right person is chosen to oversee that trust. In many cases, a spouse is not going to be the ideal choice to act as a trustee. This could be especially true for those who are in a blended family.