Estate Planning

Dennis C. Carroll, Esq.

Sep 26, 20232 min read

Should I put my retirement account into a trust?

A trust can't own an individual retirement account (IRA) since a trust is not an individual. If you absolutely wanted to put the assets...

Dennis C. Carroll, Esq.

Sep 19, 20232 min read

If you're using a revocable living trust, meaning you can change the trust and you keep possession of house that's inside the trust, then...

Dennis C. Carroll, Esq.

Jul 20, 20231 min read

Yes, as long as it is in writing and signed by the person making the will and signed by two witnesses, Connecticut law will recognize the...

Dennis C. Carroll, Esq.

Jun 12, 20232 min read

If you own your home on the day of your death, or your life tenancy ends, then before the home can be sold to a third party, your estate...

Dennis C. Carroll, Esq.

Sep 27, 20221 min read

Yes, any time you make a gift to someone in an amount larger than $17,000. You report the gift amount that is more than $17,000 on a gift...

Dennis C. Carroll, Esq.

Jul 8, 20222 min read

After an estate asset is approved by the local probate court to be distributed to estate beneficiaries, the asset’s cost basis becomes...

Dennis C. Carroll, Esq.

Jun 14, 20211 min read

The main difference between a trust and a will is that the will's instructions must be approved by a court before being carried out. ...

Dennis C. Carroll, Esq.

Feb 13, 20201 min read

No, but if you put that money into a bank account that earns interest then you'll report the interest income. If you stuff that money in...

Dennis C. Carroll, Esq.

Nov 15, 20191 min read

A lot of clients ask: How much money can I gift to someone? Answer: In 2019 & 2020, you can gift $15K, to one person, without filing a gift