Archive for the ‘Estate Settlement’ category

What You Need to Know About Being a Trustee – Video Update

May 17, 2020

Trust law in Connecticut was changed recently so we updated our Trusts and Trust Administration Video.

If you are named as a Trustee in the Will of a relative or friend, there are a number of duties, and related traps, you need to be aware of. Your responsibilities will be many.  It’s easy to get overwhelmed or miss something important. Watch the video below to learn about the duties of a Trustee and common problems Trustees face.

Help others find our informative videos. If you find this video helpful, please “like” it and share it with your friends.
An update of our video on Estate Settlement is in the works. Stay tuned. If you subscribe here: YouTube channel, you’ll be notified as soon as it’s posted.
If you are a trustee who has been struggling to manage a trust, or if you have any basic questions, please contact us. We are here to help.
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Posted by Richard S. Land, Attorney, Chipman Mazzucco  Emerson LLC, Attorneys at Law, Danbury, CT, 06810, 203-744-1929 x29, rsl@danburylaw.com.

Let’s Talk About Estate Planning (Ounce of Prevention Episode 2)

May 17, 2020

On March 5, 2020, Attorney Timothy Herring, the head of Chipman Mazzucco Emerson’s litigation practice area, launched the Ounce of Prevention podcast. The first episode is entitled What Does a Litigator Actually Do?  Listen to the first episode here: Episode One: What Does a Litigator Actually Do?

Liz Hartery

On March 31, 2020, Attorney Liz Hartery, of Chipman Mazzucco Emerson’s estate planning and probate group, appeared as a guest on Tim’s second episode entitled Let’s Talk About Your Estate Planning.  Listen to Liz’s comments on estate planning here: Episode Two: Let’s Talk About Your Estate Plan.

Estate plans are so much more than just a Will. Tim and Liz have a light-hearted discussion covering a number of estate planning options and techniques including living trusts, living wills, how to deal with difficult family issues, and what people need to know about pet trusts.

Subscribe to the Ounce of Prevention podcast. In each episode, Tim will focus on a specific legal issue and how it could impact your everyday life.

The goal of the podcast is to educate and inspire our listeners to harness the law to make life just a little bit easier.

For more information about topics mentioned in the podcast, contact Tim Herring at 203-744-1929 x19 or tmh@danburylaw.com. Visit our website at https://www.danburylaw.com/ to learn more.

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Richard Land

Posted by Richard S. Land, Attorney, Chipman Mazzucco  Emerson LLC, Attorneys at Law, Danbury, CT, 06810, 203-744-1929 x29, rsl@danburylaw.com.

Complimentary Online Estate Plan Review

May 15, 2020

Does the pandemic have you worried about whether your existing estate plan works for you now?

Or maybe you are simply using the enforced quarantine time to catch up on important things that you keep putting off.

Either way, Chipman Mazzucco Emerson has an easy way to guide you through what you need to know to make sure your estate plan is updated and meets your current needs.

Our complimentary updated Online Estate Plan Review asks a series of specific questions that will alert you to issues you should address to make certain your plan still works. The latest version of this program covers a number of recent law changes, including:

  • The Tax Cuts and Job Act of 2017
  • SECURE Act of 2019
  • Numerous changes in State and federal estate tax exemptions

You can complete the process in ten to fifteen minutes. When you are finished, you’ll receive a detailed personalized report that identifies issues that require your attention.   Here is our new video explaining how the review works and how to register for your personalized report.

To access our complimentary Online Estate Plan Review, please click on the link or image below:

Complimentary Online Estate Review Plan

We hope our online estate plan review helps you.  If you have questions about the review, please call.

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Posted by Richard S. Land, Attorney, Chipman Mazzucco  Emerson LLC, Attorneys at Law, Danbury, CT, 06810, 203-744-1929 x29, rsl@danburylaw.com.

Probate Court Fees Increased

August 1, 2015

Effective July 1, 2015, Connecticut Probate Court fees have been increased.

As the chart below indicates, fees for a decedent’s estate with a value of $2,000,000 or less are unchanged. Fees for an estate with a value more than $2,000,000 are increased significantly without any cap. The fee that applies to the excess over $2,000,000 is 0.5% up from 0.025%.

Before the increase, the fee was capped at $12,500 (the fee that applied to an estate with a value of $4,754,000). If the estate was larger than $4,754,000, the fee would remain at $12,500. Accordingly, under the old fee schedule, the fee for an estate having a value of $50,000,000 would be $12,500. Under the new fee schedule, the fee for an estate having a value of $50,000,000 would be increased to $245,615.

In general, the value of the estate is the value determined for estate tax purposes with some adjustments for property that passes to a spouse (in that case only one-half is included).

Probate Court Fees3

For more information, see our video entitled Estate Settlement and Trust Administration in Connecticut: Estate Settlement in Connecticut Playlist.

Probate Court fees are discussed in Part 3 of the video: Estate Settlement in Connecticut Part 3.

185775_1745456110853_1072275011_31952001_6630745_n[1]Posted on August 1, 2015
by Richard S. Land
Member
Chipman Mazzucco

Estate and Trust Administration Video Finished

November 10, 2013

Parts 4, 5 and 6 Posted to YouTube

The trust administration portions (Parts 4, 5 and 6) of our  video/slideshow presentation on Estate Settlement and Trust Administration in Connecticut  have been completed and posted to YouTube.

The videos cover trust administration including a Trustee’s duties, risks that Trustees face, applicable rules and regulations, common problems Trustees face, and Trustee compensation.

You can view Parts 4, 5 and 6 here:

Estate and Trust Administration Part 4 (Trusts):  What is a trust?  What is trust administration? What are the rules that apply to trust administration?  What does a Trustee do?  What risks are Trustees exposed to?  What are the Trustee’s duties?

Estate and Trust Administration Part 5 (Trusts):  Part 5 covers common problems faced by trustees while administering a trust including issues relating to accounting, investments and self-dealing.

Estate and Trust Administration Part 6 (Trusts):  Part 6 (the final Part) continues coverage of common problems faced by trustees while administering a trust including potential claims related to contracts that a trustee makes while administering a trust, claims based on a trustee’s negligence and other torts, claims based on environmental contamination of trust real property, and claims related to improper payments and distributions. This Part also includes a brief discussion on Trustee compensation.

To view the complete video starting with Part 1 click on the image below:

We hope you find our Estate Settlement and Trust Administration videos informative.

 If you have any questions, please contact us.

 Posted on 11/10/2013 by Richard S. Land, Member, Chipman, Mazzucco, Land & Pennarola, LLC.

Notice: To comply with U.S. Treasury Department rules and regulations, we inform you that any U.S. federal tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction, tax strategy or other activity.

We frequently post articles relating to estate planning, estate settlement and elder law issues to this blog. We also post notices about our client seminars here. When we do, we send out notices to clients and friends of the firm. If you would like to get our notices, please join our mailing list by clicking below.

Part 3 of Estate and Trust Administration Video Posted to YouTube

July 21, 2013

New Video Part 3: Estate Settlement and Trust  Administration in Connecticut

Part 3 of our video/slideshow presentation on Estate Settlement and Trust Administration in Connecticut  has been posted to YouTube.

The video covers judicial accounting requirements, including new rules of practice effective July 1, 2013, Probate Court fees, fees of Executors and Administrators, and attorney fees.

You can view Part 3  (9 minutes) here:

Additional parts will be posted in the future dealing with important principles of trust administration.

For Parts 1 and 2, go directly to the YouTube Playlist by clicking on the image below:

Web-Playlist-Image

We hope you find our Estate Settlement videos informative.  Stayed tuned for the rest of the videos in the series.

 If you have any questions, please contact us.

 Posted on 7/21/2013 by Richard S. Land, Member, Chipman, Mazzucco, Land & Pennarola, LLC.

Notice: To comply with U.S. Treasury Department rules and regulations, we inform you that any U.S. federal tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction, tax strategy or other activity.

We frequently post articles relating to estate planning, estate settlement and elder law issues to this blog. We also post notices about our client seminars here. When we do, we send out notices to clients and friends of the firm. If you would like to get our notices, please join our mailing list by clicking below.

Estate Settlement and Trust Administration Video Posted to YouTube

June 5, 2013

 New Video: Estate Settlement and Trust  Administration in Connecticut

Parts One and Two of our video/slideshow presentation on Estate Settlement and Trust Administration in Connecticut  have been posted to YouTube.  They discuss estate settlement up to preparation of the final account.

Additional parts will be posted in the future dealing with fiduciary accounting, expenses involved in estate settlement and trust administration, and important principles of trust administration.

Go directly to the YouTube Playlist. Click on the image below:

Web-Playlist-Image

You can view Part I separately (13 minutes) here:

Estate and Trust Administration in Connecticut Part 1

Connecticut Estate and Trust Administration Part 1

You can view Part 2 separately (15 minutes) here:

Estate and Trust Administration in Connecticut Part 2

Connecticut Estate and Trust Administration   Part 2

We hope you find our Estate Settlement video informative.  Stayed tuned for the rest of the videos in the series.

 If you have any questions, please contact us.
 
 

Notice: To comply with U.S. Treasury Department rules and regulations, we inform you that any U.S. federal tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction, tax strategy or other activity.

 

We frequently post articles relating to estate planning, estate settlement and elder law issues to this blog. We also post notices about our client seminars here. When we do, we send out notices to clients and friends of the firm. If you would like to get our notices, please join our mailing list by clicking below.

 
     
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