Recent comments in /f/Connecticut

EdLoweLaw OP t1_jd4pf3u wrote

Reply to comment by virtualchoirboy in IAMA Connecticut estate planning and trusts attorney. AMA about estate planning in our great state! by EdLoweLaw

Perfect question! Trust planning can certainly help us minimize probate as much as possible, but never all of it. In Connecticut, regardless of whether or not you even have a taxable estate, you always have to file an Estate Tax Return with the probate court. Revocable trust planning can’t remove that tax requirement.

What trust planning can do is help us avoid a full probate process. To do that, we would want to have certain assets owned by your living trust (like real estate) and other assets have proper beneficiary designations (like IRAs) so that nothing is in your name alone when you die. If you have nothing in your name alone at death, there are no assets to probate and thus only the estate tax return needs to be sorted. If you have a little more than nothing, but less than $40,000 in your name alone at death, you can even get away with an abbreviated probate process instead of a full probate (which can be handy for those pesky cars everyone forgets about).

If probate avoidance is a goal, you need to make sure all the assets are touched so they don’t need to be probated. If you own real estate in Connecticut, it means you’ll want to consider trust planning to have the property avoid the probate process. Best to have an attorney review ALL your assets to make sure everything is working together to meet all of your estate planning goals.

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nick7184 t1_jd4or9o wrote

Reply to News 12 Poll: Should Connecticut raise servers' wages? by jaydecay123

More government interfering with free market economics, and the outcome is predictable. Many of these restaurants barely survived Covid and now they are going to see their expenses go up, they will have to increase prices, and many consumers will choose to just stay home.

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virtualchoirboy t1_jd4m8pj wrote

Reply to IAMA Connecticut estate planning and trusts attorney. AMA about estate planning in our great state! by EdLoweLaw

I've heard that putting your estate into a trust can no longer be used as a way to avoid having to go through probate court? True? If so, what are your recommendations on how best to avoid probate?

Assumptions are: married with everything going to spouse, homeowner, multiple vehicles, retirement accounts, brokerage account with a large brokerage, and savings accounts.

Relevance: My dad passed in 2019 and despite having the majority of his estate in a trust, everything still had to go through probate which took nearly a full year to clear.

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Bruins125 t1_jd4j8gx wrote

Reply to comment by nepatsfan1974 in Goodbye giant DD cup by realbusabusa

Shhh, if you can keep a secret I'm a Medford raised masshole double agent assigned to live in Connecticut. Trying not to have my cover blown and fit in with the New Yorkers... and thwart this attempt to steal land from the glorious utopia of Massachusetts.

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keppism t1_jd4fqov wrote

Reply to comment by samlog23 in Dog Flea/Tick/Heartworm by fadinglucidity

We use Simparica Trio for both of ours, too. When tick season is especially bad, like when the tiny nymphs are out, we also add on a soresto collar to repel ticks. We spend a lot of time in the woods, so it is needed.

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