On this episode, join Partners Michael Clear and Vanessa Maczko as they discuss estate planning considerations for digital assets, which often require special attention when compared to more traditional assets, like real property and marketable securities. For example, sentimental digital assets (such as social media accounts, email, photos on your computer or cell phone), may
On this episode, join Partners Erin Nicholls and Michael Clear as they discuss strategies for preserving family legacy assets across generations. With a particular focus on the management and division of interests in real property, such as family compounds and homesteads, Erin and Michael discuss considerations related to carrying costs, ownership structures, bloodline protection and
Courts are often reluctant to enforce no-contest clauses in estate and probate matters. As noted in our prior alert on the Connecticut Appellate Court case Salce v. Cardello, even where the terms of the no-contest clause appear to have been breached, the enforcement of a no-contest clause can be
On this episode, join Partners Erin Nicholls and Michael Clear as they delve deeper into a discussion on creating SLATs for married clients to use up both clients’ lifetime exemption amounts, while also reducing the likelihood of the imposition of the Reciprocal Trust Doctrine by the IRS. Citing several examples, Erin and Michael provide strategies
At the end of last year, the Michigan Court of Appeals issued an opinion in the case of In re Estate of Daniel K. Wallace, noting the importance for a fiduciary to administer an estate and operate the estate’s business interests in accordance with fiduciary
On this episode, join Partners Erin Nicholls and Michael Clear as they discuss one of the hottest topics in the estate planning world, spousal lifetime access trusts (SLATs), and the implications of using SLATs in a post-Tax Cuts and Jobs Act world. Focusing primarily on maximizing the use of one’s lifetime exemption amount and removing
On this episode, join Partners Erin Nicholls and Michael Clear as they dispel some of the common misconceptions related to trust planning and delve into the three reasons why trust planning is important for many clients. With an understanding that most clients do not want to “rule from the grave,” Erin and Michael highlight the
For many, the holidays are often spent gathering around the dining room table with family and close friends, sharing meals and regaling each other with stories or politics of the day, to the chagrin of some. It is also a time of year when we look forward to accomplishing our year-end goals and plan for
Grantor Retained Annuity Trusts, commonly referred to as “GRATs,” are an excellent tool to transfer wealth outside of your taxable estate while using a minimal amount of gift tax exemption in the process. GRATs are great estate planning vehicles for clients with appreciating assets, clients who are risk averse and clients who have used up
How can a Connecticut resident protect his or her estate from family members who might fight over it? The inclusion of a “no contest” clause under a will or trust may be one strategy, but does Connecticut recognize “no contest” clauses? And, if an heir initiates a litigation, would a Connecticut probate court actually enforce