|
Connecticut Adopts Sweeping Estate Tax Reform |
 After months of difficult negotiations, the Connecticut General Assembly finally passed HB 6802, adopting a budget for the next two years. As of September 8, 2009, the Governor allowed the budget bill to become law. The budget bill contains major revisions to Connecticut's estate tax laws. Individuals should consider how these changes may impact their tax and estate planning. read more |
|
Probate Reform Passes |
In June, the General Assembly passed, and the Governor signed into law, sweeping probate reform laws. It has been widely reported that the probate courts were on the verge of insolvency. In addition, public sentiment has grown increasingly disenchanted with the probate system amid allegations (some fair, some not) of incompetence and cronyism. read more |
|
Income Taxes and Retirement Planning |
 In an effort to allow retirement assets to recover from recent steep declines, Congress authorized the suspension of mandatory minimum distributions for 2009. Thus, retirement plan participants over the age of 70 ½ who ordinarily would be required to withdraw a portion of their accounts may refrain from doing so this year, allowing the assets in the account to grow on a tax-free basis. read more |
|
Asset Ownership |
 Do-it-yourself estate planning manuals and well-intentioned friends and bank tellers often recommend joint ownership as the best way to avoid probate. Joint ownership also adds to convenience during lifetime by allowing someone else to manage the account when the original owner is not able to do so. While joint ownership between spouses may be a viable alternative to meet the twin goals of probate-avoidance and convenience, it is rarely ever appropriate for unmarried individuals. read more |
|
Publications by Kelley Galica Peck |
|
Revocable Trusts Line by Line: A Detailed Look at Revocable Trusts and How to Change Them to Meet Your Needs read more
 Trusts and Estates Litigation and Dispute Resolution: Leading Lawyers on Developing Case Strategies, Analyzing Negotiations, and Achieving Client Goals (Inside the Minds) read more |
|
News and Notes |
- Halloran & Sage opens a new office location in Middletown, CT read more
- Halloran & Sage is committed to helping our communities:
|
