This memorandum is designed to outline some of the basic administrative steps to be followed by the Trustee of an irrevocable life insurance trust (hereinafter referred to as an “ILIT” or the “Trust”). When properly implemented and administered, an ILIT
Assets that you own at your death are included in your taxable estate. Lifetime gifting offers an excellent opportunity to remove assets from your taxable estate, yet it is often psychologically and economically difficult for people to make gifts and
Many families wish to help their children take the important step of purchasing a first home. There is no single “best” approach—each method involves different tax, legal, practical, and emotional considerations, as discussed below.
Navigating the tax landscape during estate administration is like solving a complex puzzle with each piece representing opportunity and risk. One challenge is determining where key expenses can be deducted – on the estate tax return (Form 706) and/or the
A revocable trust is a flexible estate planning tool that allows you to manage and distribute your assets during your lifetime and after your death. You retain full control over the trust while you’re alive, with the ability to amend
Gervolino v. Gervolino, No. FST-FA-21-5025547-S (Jan. 6, 2025)
At a Glance
In this episode of Future Focused: Sophisticated Estate Planning, host Michael Clear welcomes Corporate Partner Daniela Spanos to dive into planning strategies tailored for founder-owned businesses navigating an exit or a transition to a new form of ownership. They examine
Sullivan v. Sullivan, No. FSTFA 22-6057558-S (Aug. 27, 2025)
At a Glance
Probate litigation is an area of law that can be fraught with unexpected twists and critical deadlines. The recent decision in Chartier v. Valliere, 234 Conn. App. 1 (2025), offers a compelling look into the complexities of will contests, the
On this episode, host Erin Nicholls welcomes Victoria Fiengo, Private Client Services Associate, to discuss the complexities of self-dealing in private foundations. The discussion focuses on the importance of understanding the broad definition of disqualified persons to avoid impermissible self-dealing
