Estate Planning

Estate Planning involves determining how an individual’s assets will be preserved, managed, and distributed in the event they become incapacitated or pass away.

Estate planning tasks include making funeral arrangements, making a will, possibly setting up trusts and naming an executor and beneficiaries.

Estate Planning can be complicated, and is best left to Estate Planning attorneys. However, as part of a client’s team, the Financial Representative and the client’s accountant can work together to create the plan that is suitable for the wishes of those who assets are part of the plan.

Some Key Terms

Probate
Wills
Power of Attorney
Living Wills
Health Care Directives
Revocable Trust
Irrevocable Trust
Estate Tax

Each state has its own specific laws and it is best to consult an attorney in your state. If you live in Connecticut, one of the firms we have had great success with is Kahan Kerensky Capossella, LLP in Vernon, CT. Here is a link to Attorney Allison Poirier, who we have worked with on numerous occasions. https://www.kkc-law.com/allison-poirier