Last month, in its unanimous decision in Clark v. Rameker, the United States Supreme Court decided that an inherited IRA does not have the same bankruptcy protection as a non-inherited IRA.
Planning for a Loved One with Special Needs In general, a trust is a legal device whereby property of some sort (real estate, cash, tangible personal property, etc.) is managed by a person, termed the Trustee, for the benefit of certain other people, termed the beneficiaries. A special needs trust, also called a “supplemental needs […]
Successor Trustee Meeting May 2014 On May 31, 2014 we held our annual Successor Trustee Meeting. More than 80 of our clients and their family members attended! We were delighted to see such a crowd, and even more delighted to spend some time chatting with many of you and answering your questions. We began […]
Preserving Wealth Over Generations Several common sayings refer to the phenomenon of losing inherited wealth. One is “shirtsleeves to shirtsleeves in three generations.” Another is “the first generation makes it, the second spends it, and the third blows it.” These sayings are supported by numbers. According to a recent article in the Wall Street Journal, […]
The Consequences of Life Estates A life estate is a form of ownership in which property owners transfer ownership in their property, most commonly their home, while retaining the right to use and occupy it for the remainder of their lives. This type of ownership is used to avoid probate of the property and also […]
Signing Nursing Home Admission Agreements As A Responsible Party When a person is admitted to a nursing home, it is often a family member who manages the details of the move. If you are managing a loved one’s transition into a nursing home, you will likely be asked to sign a nursing home admission agreement […]
Over five million Americans are living with Alzheimer’s disease and this number continues to grow. Alzheimer’s disease is the sixth leading cause of death in the United States. It is difficult to overstate the devastating impact Alzheimer’s disease and related dementias have on patients and their families. One way to mitigate this impact is to […]
The majority of American families own a pet. If you are part of this majority, it is important to think about making arrangements for your pets in case you are no longer able to care for them yourself. According to a recent survey, over 63% of pet owners consider their pets to be family members. […]
Weatherby & Associates, P.C. is pleased to announce that attorney Rebecca M. Vicente has been elevated to partner in the firm and will continue to work in the firm’s Bloomfield, Connecticut office. Rebecca’s elevation to partner reflects her status as an integral part of the firm’s practice and her commitment to service and professional ethics. Colleagues value […]
In order to prepare your estate plan, you need to know that your assets can be put into two categories: probate and non-probate assets. Once you understand the difference between these two types of assets, you will be able to make informed decisions about how you wish to distribute your property to your loved ones.Probate […]