Transferring wealth from one generation to the next seems like a simple proposition.  However, tax laws, probate laws, intestate laws, and the rules of government benefit programs can all cause unexpected and conflicting results for the unwary planner.    

A few things to consider:

• Everyone has an estate plan - either one tailored to the individual's wishes, or one created by the intestate laws of the state.
• If one relies on intestate laws to transfer assets at death, he/she may get unintended results (see tab on left for "Estate Administration and Probate Law" for more details).
• How would your children make it through their adolescent years without you? 
• Who would care for your minor children and manage their finances in your absence? 
• Could your family get by without your earnings? 
• Who will get your property? 
• Will your assets be depleted by estate taxes or generation skipping transfer taxes? 
• What if you become physically or mentally incapacitated?  Will your family be able to manage?  Who will take care of you and your finances?  Who will make your medical or life support decisions if you are unable to communicate with your doctors?
• What will happen to your small business if you or a co-owner pass away?  Will you have to share business making decisions with a co-owner's child or spouse?  Will your business have the liquidity necessary to buy the deceased co-owner's share from the heir?  What value will you place on the business interest?  

We don't like to consider our mortality, but the answers to these questions are too important to leave for another day.  Sometimes the unexpected  occurs and the chance for planning on your own terms becomes unnecessarily complicated or even lost. 

Ask yourself: Will a judge make the same decisions I would for my family?

Don't wait.  Contact a lawyer today to make your plans a reality. 

What We Do

If you do not know the answers to these questions, or if your plans have changed, we can help.  Contact us today to schedule your appointment.  We will work with you and your other trusted advisors to develop a plan tailored to your goals and situation in life.  

Jack Reardon, J.D., LL.M. 

Serving the Connecticut Shoreline from New London to New Haven.

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(860) 227-9157

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Please contact us anytime. We look forward to hearing from you.

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