Weekly Tips Archieve
Many people are surprised to learn that estate tax consequence varies significantly if you live in Massachusetts verses Connecticut. Contact Attorney Beth, who practices in both states, for a free estate plan consultation to learn more. 08/15/24
Spellman, Kelly & Fanous LLC is not a "trust mill" law firm; we don't push trust planning on clients who really don't need that kind of estate plan; however, a trust is a very versatile tool that can help preserve your estate and consummate your specific wishes upon death. Contact Attorney Beth to learn more. 08/27/24
Attorney Beth Fanous is a skilled business attorney with experience from Wall Street to Main Street. Attorney Beth, who practices in CT, MA, and NY, offers big firm/big corporation experience in an intimate, boutique firm setting in the center of Suffield. 09/03/24
A fact that a lot of people don't know: in CT, even if no probate is needed for a deceased person's estate, CT requires the filing of an estate tax return. The estate isn't taxable unless over $13 mil (as of 2024), but the estate tax return must be filed in all cases. In MA, there's no requirement to file an estate tax return unless the estate is actually taxable--but, the estate is taxable if over $2 mil. Contact Attorney Beth to learn the ins and outs of estate planning. 09/12/24
As part of the estate planning process, we help clients take advantage of under-utilized ways of naming beneficiaries to avoid probate involvement upon their passing - for example, many people don't realize that for a vehicle or a simple bank account you can name a transfer on death beneficiary.....and, there's no cost to do this. 10/01/24
There are endless possibilities when in comes to how your Trust Agreement is crafted; your trust should be highly individualized to meet all of your specific needs - whether it be care for minors, "keep it in the family" provisions, tax planning, preventing disinheritance in a blended family context, control and preservation of assets after your death, etc. etc. etc. Contact us to learn more. 10/09/24
As much as we love our clients, nobody "loves" coming in to meet with an attorney to tackle estate planning. Our goal is to make the process as smooth and painless as possible, so that when clients put pen to paper and finish, they can put the task in the rear view mirror and get on with life (and allow their estate planning documents to hopefully collect dust for a long time!). Peace of mind is the ultimate goal.10/16/24
Attorney Beth, a skilled estate planning attorney, is the author for all State of Connecticut Estate Planning form documents and agreements, including but not limited to Wills, Revocable and Irrevocable Trust Agreements, Special Needs Trust Agreements, Powers of Attorney and Health Care Instructions10/29/24
Part 1: Remember if pulled over and suspected of diving under the influence of alcohol or drugs do the following:
- Be respectful and comply by giving your name, license, registration, and insurance information when asked.
- Avoid answering any other questions. 11/4/24
Part 2: Remember if pulled over and suspected of diving under the influence of alcohol or drugs do the following:
- Don’t perform any tests
- Refuse to perform any field sobriety test or blow into a breathalyzer
Simply politely request to speak with a lawyer. 11/13/24
Connecticut adopted the Uniform Directed Trust Act in 2017 - a “directed trust” is a trust that grants a power of direction to someone other than the trustee, to fulfil a particular purpose – for example, a trust director may be appointed to manage investment of trust assets, or to manage real property owned by the trust. Contact Attorney Beth if you’d like to learn more. 11/19/24
Some of the benefits of a mediated divorce are as follows:
The parties are on the same team and separating amicably;
The parties are using the mediation process to avoid a lengthy court fight;
The parties reduce (sometime significantly) lawyer fees. 11/27/24
It's important to look comprehensively at your assets when estate planning. If you've named "transfer on death" or "pay upon death" beneficiaries with accounts, these designations govern over directions provided in your Will. This can have disastrous results if your beneficiary designations are out of date. As part of our process, we provide an "Asset Report" to itemize your assets and provide a recommendation for each. Contact Attorney Beth to learn more 12/03/24
