Latest Insights
Learn about the latest legal developments that could potentially impact your life, your family, and your business.
Creating Asset Protection Trusts in Connecticut
Creating Asset Protection Trusts in Connecticut
As asset protection planning has gained prominence, more states are changing their laws to provide opportunities for individuals to create asset protection trusts. Such trusts were previously unavailable outside of a few limited jurisdictions. Connecticut made a...
R-E-S-P-E-C-T the Will: Lessons from Aretha Franklin’s Estate
R-E-S-P-E-C-T the Will: Lessons from Aretha Franklin’s Estate
When Aretha Franklin passed away in 2018, it was believed that she had no will. That meant her estate would be divided among her surviving heirs – four sons, one of them disabled and under legal guardianship. However, several years after her death, two different...
Kiddie Tax – Are You Kidding?
Kiddie Tax – Are You Kidding?
Many parents wonder whether and when their children have to pay taxes. Children who earn wages pay taxes if their income exceeds their standard deduction, however, where children have unearned income, such as from investments or interest on bank accounts, they may...
Ring a DING, NING – How an Incomplete Gift Non-Grantor Trust Can Save Taxes
Ring a DING, NING – How an Incomplete Gift Non-Grantor Trust Can Save Taxes
When it seems like you’ve exhausted all tax-saving strategies, there still may be another one left. It’s called an Incomplete Gift Non-Grantor Trust (ING). An ING is an irrevocable trust designed to reduce or eliminate state income tax. It is typically used by...
The Rise of AI: What Does It Mean for Lawyers and Clients?
The Rise of AI: What Does It Mean for Lawyers and Clients?
Thanks to extensive press coverage, you have probably heard of the lawyer who submitted a legal brief prepared using ChatGPT that cited cases that didn’t exist. ChatGPT just made them up. Artificial intelligence (“AI”) tools like ChatGPT are increasingly being...
Protecting Your Cash Holdings from Bank Failures
Protecting Your Cash Holdings from Bank Failures
The failure of several banks in early 2023 raised fears among many individuals and businesses that their cash deposits were at risk. Most depositors were covered by FDIC insurance but others were not. The best way to protect your cash holdings is to understand the...