An estate planning attorney can help you to take steps to avoid unwanted medical care. Avoiding care that you don t want is very important because it is up to you to determine what you want your quality of life to be and when you want extraordinary measures used to prolong your life. Unfortunately, some of [ ] The post How Can I Avoid Unwanted Medical Care? appeared first on Nirenstein, Horowitz & Associates P.C..
Connecticut probate is a process by which a person s assets will be transferred following his or her death. The process is required in most situations, but it can sometimes be avoided through careful estate planning. As you are making your plans for what will happen after your death, you need to decide whether or not [ ] The post Why Would You Want to Avoid Connecticut Probate? appeared first on Nirenstein, Horowitz & Associates P.C..
You have to be aware of estate taxes when you are planning your estate as a financially successful individual. These taxes can significantly impact the future of your family if you are exposed. As a resident of the state of Connecticut, you have two different estate taxes that you may be forced to address. There is a federal estate tax that people all around the country must contend with, and in Connecticut, there is also a state-level estate tax. A certain amount can be transferred before estate taxes would kick in. This is called the credit or exclusion. For the rest of 2015, the federal estate tax exclusion is $5.43 million. Each year there are inflation adjustments, so you will see a slightly larger figure year-by-year if the current laws remain intact. The Connecticut state estate tax exclusion stands at $2 million at the present time. Because the state-level exclusion is considerably lower than the federal exclusion, you could potentially be exposed to the Connecticut tax even i