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Connecticut Estate Planning

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You have an estate plan. Whether you took the time to prepare it yourself or hired someone or have done nothing. Who prepared yours?

1. Did you have an experienced attorney create a comprehensive plan for your unique situation?

An experienced attorney can provide you with a well designed plan that is customized to accomplish your unique goals. The key word is plan. There is no "do-over" in estate planning. When you and your family need the plan to work, it is often too late to correct any mistakes because of death or disability. To accomplish your goals and provide security for your family, consider an estate plan designed by an experienced attorney.

I can help you ensure that your estate passes to whom you want,when you want, and is carried out in the manner you've chosen. You and your family can have peace of mind that your family won't have to endure the public process and costly matter of probate while avoiding estate and inheritance taxes. You can keep your family matters within the privacy of your own family. The government won't be able to take what you've spent a lifetime building.

Two recent cases that highlight the importance of having not only an estate plan, but an effective estate plan are the Anna Nicole Smith and Terry Schiavo cases. Those were probate court hearings that we saw on television in the Anna Nicole Smith case by the way. How much money did their families lose and how much privacy did they sacrifice?

2. Or, do you feel very lucky and are going with the State of Connecticut's statutory estate plan?

When a person fails to prepare their own estate plan the State of Connecticut and your local Probate Judge has to fill in the blanks. Those blanks cover many issues from determining who is going to be your legal representative with decision making control over you and your property; what that person is allowed to do with your property; and also who will receive your property. You can review Connecticut's plan for you by browsing the statutes.

The intestate distribution statute is particularly important for any married couple, especially second marriages. Did you know that if you have no children your parents are beneficiaries of your estate as well as your spouse? Did you know that your property will be split between your spouse and children (regardless of their age)? Discipline would certainly become interesting if your child was a partial owner of your home. Carefully review that statute and see if it reflects your distribution goals for your property. If this is the plan you're going with, be sure to keep an eye on the statutes because they are subject to change every legislative session and Connecticut has done some interesting things recently such as the "six-month estate tax" of 2004.