A revocable living trust (or RLT) is a widely used estate planning device, often promoted in magazine articles and at seminars. There is no doubt that individuals and couples can achieve substantial benefits, both tax and non-tax, through the use of revocable living trusts. It is important, however, that people considering making a revocable living trust part of their estate … [Read more...] about Legal News You Can Use: What a Revocable Living Trust Can and Can’t Do For You
Legal News You Can Use: The Gift of Real Estate From Parent to Child
Should I gift my house to the kids now, or leave it in my estate? This can be a tricky question. There are also many other factors to consider, including mortgages, capital gains tax, Medicaid regulations, and other risks. GIFT TAX The current federal law gives each donor (maker of a gift) a $5.43 million lifetime exemption from the federal gift tax. The Connecticut … [Read more...] about Legal News You Can Use: The Gift of Real Estate From Parent to Child