A revocable trust is a flexible estate planning tool that allows you to manage and distribute your assets during your lifetime and after your death. You retain full control over the trust while you’re alive, with the ability to amend or revoke it at any time. Upon your death or incapacity, a successor trustee steps
As experienced litigation attorneys can explain, summary judgment is a procedural mechanism that allows a court to resolve a case without a trial when there are no genuine disputes of material fact, and the moving party is entitled to judgment as a matter of law. This tool has long been available under both Connecticut and
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law. The OBBBA makes permanent several provisions implemented by Trump’s 2017 Tax Cuts and Jobs Act (TCJA) and also introduces several new rules, many which significantly affect high-net-worth individuals.
Outlined below are five major takeaways from the OBBBA. If you
Intrafamily loans, or loans between family members, can be an effective estate planning tool to transfer potential growth on loaned funds between generations without reducing the lender’s lifetime gift and estate tax exemption. The Internal Revenue Service (“IRS”) generally scrutinizes intrafamily loans and may recharacterize them as disguised gifts subject
The death of a serving executor or administrator (a “fiduciary”) during the administration of a loved one’s estate can add to the stress of an already overwhelming process. Fortunately, Connecticut law provides a clear framework to transition between fiduciaries and ensure the estate progresses in a timely manner.
Understanding the Roles: Executor vs. Administrator
An
The Montana Supreme Court in The Matter of the Estate of Jessie L. Beck, 418 Mont. 416 (2024) considered whether under Montana law, a cell phone video met the requirements of a validly executed last will and testament. The answer was a resounding no.
Four days prior to the decedent’s death, he recorded a
When it comes to estate and gift taxation, non-U.S. citizens face unique challenges based on their residence and domicile status. Understanding these concepts is crucial for effective estate planning and tax management.
Determining Domicile for Estate and Gift Tax Purposes
Estate and gift taxation of non-U.S. citizens is based on residence. For estate and gift
The Financial Crimes Enforcement Network (FinCEN) has adopted an interim final rule that significantly narrows the scope of beneficial ownership information (BOI) filing requirements. The interim final rule (i) removes the requirement for U.S. companies and U.S. persons to report BOI, and (ii) revises the definition of “reporting company” to mean only those entities that
Income and losses generated within a trust must be reported, but the entity or person required to report such income or losses depends on what kind of trust it is. If a trust is a “grantor trust,” the grantor (i.e. the person who funded the trust) is responsible for the reporting and payment of tax.
A federal district court judge in Texas signed an order on February 17 lifting the last remaining nationwide injunction blocking beneficial ownership information (BOI) reporting under the Corporate Transparency Act (CTA).
The Financial Crimes Enforcement Network (FinCEN) enforces BOI requirements and has promised a 30-day filing delay to allow reporting companies to comply. On February