Common Estate Planning Myths We Wish People Would Stop Believing.
As Estate Planning attorneys, we understand how important it is to properly plan for both the future and the here and now. While most of the general population would tend to agree with this statement, most people often overlook the importance of Estate Planning and the crucial role it can play in their individual planning.
7 Steps for Settling an Estate in Connecticut
Probate is the legal process during which a named representative for the estate (“fiduciary”) carries out the filings required by the Probate Court and makes distributions to estate beneficiaries. The Probate Court in the district the individual last resided oversees this process and ensures that administration expenses and debts are paid and that the property and possessions of the deceased are distributed to the correct people.
If you are the Executor or Administrator of an estate, the following outline provides you with some of the major responsibilities you will have in settling the estate. Every situation is different, and you should consult with an attorney specializing in estate administration to ensure that filings are timely and accurate and that you are following correct distribution procedures.
Asset Protection For Entrepreneurs
Going into business for yourself is a risky endeavor. From investing in goods and services and hiring employees to simply carrying out the daily tasks related to your business, each step is fraught with risks. This is especially true given the litigious nature of our society. As a result, many entrepreneurs employ asset protection strategies. Asset protection is a form of strategic planning aimed at minimizing risk and protecting assets from creditors’ claims and litigation.
Planning for Long-term Care with Medicaid
Medicaid, also known as “Title XIX”, is a needs-based program for individuals who are 65 years of age or older, or disabled, and who lack sufficient income and assets to pay for their long-term medical care and treatment. If an individual meets the eligibility criteria, Medicaid will pay health care providers directly for long-term health care services delivered to the individual in a nursing home or at home. Medicaid also pays for additional medical services, such as doctor visits, inpatient and outpatient hospital care, laboratory services, and transportation necessary to receive medical care.