The New Year brings with it new estate and gift tax exemption and exclusion amounts. In 2017, a new tax law doubled the federal estate and gift tax exemption. And that exemption amount has increased each year between 2018...more
The changing landscape of American families has resulted in new laws that expand who may be considered your child or grandchild. A recent Connecticut law, known as The Connecticut Parentage Act (the “Act”), may impact your...more
Have you considered establishing a donor advised fund as part of your year end giving? A donor advised fund is a type of charitable giving vehicle that allows you to make an irrevocable contribution to a charitable...more
After months of speculation, 2022 began with no new federal estate and gift tax legislation. As the proposed legislation wended its way through the legislative process in 2021, the major proposed changes to federal estate...more
1/18/2022
/ Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Gift Tax ,
Gift-Tax Exemption ,
High Net-Worth ,
Individual Retirement Account (IRA) ,
IRS ,
Qualified Retirement Plans ,
Required Minimum Distributions ,
Roth IRA ,
Tax Planning ,
Wealth Management
The past twelve months have demonstrated that a solid estate plan, which includes steps to protect your wealth, can help you feel better prepared and provide a sense of control during times of economic uncertainty. As we...more
3/8/2021
/ Capital Gains Tax ,
Estate Planning ,
Estate Tax ,
Estate-Tax Exemption ,
Gift Tax ,
Gift-Tax Exemption ,
Interest Rates ,
IRS ,
Tax Deductions ,
Tax Planning ,
Tax Rates
The first important new law impacting retirement distributions in over a decade was enacted on December 20, 2019 as the SECURE Act (“Setting Every Community Up for Retirement Enhancement Act of 2019”). ...more
1/9/2020
/ 401k ,
403(b) Plans ,
Beneficiary Designations ,
Compensation & Benefits ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Estate Planning ,
Individual Retirement Account (IRA) ,
Multiemployer Plan ,
New Legislation ,
Part-Time Employees ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Planning ,
Tax Rates
Following the passage of the Federal Tax Cuts and Jobs Act in late 2017, the Connecticut legislature attempted to modify Connecticut estate tax law and make it more consistent with the new, much higher $11.2 million federal...more
8/24/2018
/ Estate Planning ,
Estate Tax ,
Gift Tax ,
Gift-Tax Exemption ,
Income Taxes ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Reform ,
Trump Administration
A Revocable Trust (sometimes known as a Revocable Living Trust or Inter Vivos Trust) is an arrangement established by a person (the “Settlor” or “Grantor”) to direct how his or her assets are to be managed during life and...more
Many couples consider (or should consider) signing a prenuptial agreement before they are married, but avoid raising the issue or resist the idea. They may fear a negative reaction by their intended, or the couple is “so in...more
A Power of Attorney is an important estate planning tool that allows an individual (the “Agent”) to act on behalf of another person (the “Principal”) in financial and other matters without involving the probate court. A new...more
11/8/2016
/ Accounting ,
Banks ,
Digital Assets ,
Estate Planning ,
Financial Institutions ,
Gifts ,
Inter Vivos Trust ,
Power of Attorney ,
Recordkeeping Requirements ,
Retirement Plan ,
Verification Requirements
Who really benefits? You may be surprised!
If you participate in a 401(k) or other retirement plan, have one or more IRA accounts, or life insurance policies, you need to designate beneficiaries to receive the benefits...more
Do you have a personal laptop computer, iPad, iPhone or other personal electronic device requiring an access password? Who, besides you, has that information? If something happens to you, how will your information be...more
It is important to review your existing estate plan periodically to determine if it continues to meet the needs of your family and appropriately addresses tax considerations in light of ongoing changes in federal and state...more