Important 2021 Figures
Connecticut estate tax exemption $ 7.1M
Federal estate tax exemption $ 11.7M
Top Connecticut estate tax rate 12%
April 2021
What is a Disclaimer Trust Plan?
With proper planning, a married couple can combine their two exemptions to protect double the amount of assets from estate taxes than a single person can protect. Saving on estate taxes helps your family preserve more assets for the next generation.
What Does Per Stirpes Mean?
Many times, when we send a Will or Trust to a client, the first question the client asks is “What does ‘per stirpes’ mean?” The term per stirpes appears with the word “issue” or “descendants.” Your issue or descendants are your children, grandchildren, great grandchildren, etc. “Per stirpes” literally means ‘by roots or by representation.” <
Intrafamily Loans
Family members who weather this pandemic may consider making a low interest loan to family members with fewer resources. Intrafamily loans have many advantages. The minimum interest rate required by the IRS on intrafamily loans is lower than commercially available rates.
Come for a visit or stay home … It’s up to you!
During this pandemic, we realize some of our clients want to meet in our office with masks and some would prefer to meet through Zoom or merely by telephone. We can accommodate any location for interacting.
What is an Applicable Multi-Beneficiary Trust
The SECURE Act dramatically changed the required minimum distribution (RMD) rules for non-spouse beneficiaries who inherit retirement plans. Most non-spouse beneficiaries must take their inherited benefits over 10 years.
