When a death occurs, it may be necessary to probate a will. Although most people have heard the phrase probate a will, not everyone who is forced to cope with a death of a loved one actually knows what it means to go through the probate process. The process of probating a will can be [ ] The post What Does it Mean to Probate a Will? appeared first on Nirenstein, Horowitz & Associates P.C..
Far too many people do not fully consider their retirement options and are not prepared for retirement. According to Investopedia, the average savings for people aged 55 to 64 is just $104,000, which produces income of just $310 monthly. This is obviously not enough to live on, even if you factor in that you will [ ] The post Retirement Account Options appeared first on Nirenstein, Horowitz & Associates P.C..
Am I eligible for Medicaid? This is a question which many people ask because they are in need of nursing home care or Medicaid services. The answer is going to vary depending upon many factors, including your age and income level. Determining if you are eligible for Medicaid coverage or not is of vital importance [ ] The post Am I Eligible for Medicaid? appeared first on Nirenstein, Horowitz & Associates P.C..
Retirement planning has become more important than ever for people throughout Connecticut. Making advanced plans for retirement is important because too many people no longer have defined pension benefits available to them through their employers. Instead, they are dependent upon saving enough money through their own contributions to 401(K) accounts and through other types of [ ] The post Why Is Retirement Planning More Important Than Ever? appeared first on Nirenstein, Horowitz & Associates P.C..
A Hartford elder law attorney actually provides invaluable help not just for seniors, but for young people as well. It is a common misconception that services offered by an elder law attorney are for the elderly only. The reality is, elder law gets its name because the issues in this field are most commonly concerns [ ] The post Why Young People Need Help from a Hartford Elder Law Attorney appeared first on Nirenstein, Horowitz & Associates P.C..
Pet planning is something that not everyone thinks about, but that every pet owner should do. When you have an animal who depends upon you for a home and for safety and security, you do not want to let that animal down. Your pets are a part of your family and you need to make [ ] The post Top Pet Planning Mistakes People Make appeared first on Nirenstein, Horowitz & Associates P.C..
Many people have heard of estate taxes, and you may assume that an estate tax and an inheritance tax are the same thing. In fact, these are two different forms of taxation. In this post we will explain exactly who must pay inheritance taxes, and we will also look at the differences between an inheritance tax and an estate tax. Inheritance Tax An inheritance tax is levied on each individual asset transfer. If you named five different nonexempt inheritors in your last will, an inheritance tax could be levied on transfers to each respective heir. The good news is that there is no inheritance tax on the federal level, though there is an estate tax. Most of the states in the union do not impose inheritance taxes either, but there are a few states that do levy state-level inheritance taxes. Our firm practices law in the state of Connecticut, and there is no state-level inheritance tax in our state. For your information, the states that have state-level inheritance taxes are Maryland, Iowa,