A quality education may be one of the best gifts to give a minor child or grandchild this holiday season. As the cost of education continues to increase annually, families may be contemplating various gifting strategies to accumulate funds, minimize taxes and ultimately support younger generations with their future security and education goals.
Two popular
What is Guardianship?
Guardianship is a legal arrangement whereby an individual is granted the legal authority to make decisions on behalf of another person who is deemed unable to make those decisions independently. Most commonly, this applies to minor children whose parents are deceased, but this also applies to incapacitated adults.
Guardianship law serves as
Wiggin and Dana’s Private Client Services practice has been honored with a prestigious “Tier 1” national ranking in the Best Law Firms® 2025 Rankings by Best Lawyers®.
Estate planning can require extra care and effort where one spouse is not a U.S. citizen. The same can be said for couples who live, work, or own property in the U.S. but neither is a U.S. citizen. These couples should be well-advised in preparing an estate plan to minimize the potential application of U.S.
What is a Family Office?
A family office is a private wealth management entity that may provide a variety of services to a wealthy family, such as investment management, financial planning, estate planning, and philanthropy. Family offices can be set up as a standalone entity or as a division of a larger company. The beauty
As the owner of a franchise, you may be focused on the day-to-day operations and management of the business. You might have plans for the longer-term, for growing the business in the years ahead. But what if you are no longer around? Who will operate it? And who will inherit it? Would you prefer that
In a previous Wiggin and Dana advisory, we highlighted a new “decanting” statute in Connecticut. As described in that advisory, effective January 1, 2025, Connecticut will specifically authorize “decanting” the assets of an otherwise irrevocable trust into a new trust with improved terms. The statute outlines precisely what kinds of trusts can and cannot be
Navigating the emotional and logistical complexities of administering a loved one’s estate after their death can be difficult. The additional burden of having to decide what to do with all of their stuff (also known as tangible property) highlights the critical role of effective estate planning. The clarity and directives provided by a well-structured estate
Clients often ask us how to plan for educational expenses for their children or grandchildren.
According to the College Savings Plans Network, at an inflation rate of 6%, it will cost about $276,954.00 to send a child who is currently a toddler to an in-state, public college for four years, inclusive of tuition, fees, room
Highlighted by Lyden v. Lyden (In re E. Earl Lyden Trust)
In early April, the Michigan Court of Appeals issued an opinion in the case of In re E. Earl Lyden Trust, which highlights the importance of a comprehensive review of the estate plan during the pendency of a divorce.
Background of Case
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