Blog for John Sweeney - Elder, Wills, Estates, Trusts, Special Needs, Business, & Tax Lawyer in CT and NY

ABLE Account Update April 2016

Posted by John Sweeney | Apr 15, 2016 | 0 Comments

Many states have enacted the legislation for ABLE accounts including NY and CT and the federal legislation is in place too. However, as of 4-16 no state has the account operational so you can't open one. In addition, Congress changed the rule in 12-15 so now you do not have to open an ABLE account in your own state..you can use any state. As a result, some states may not offer them or might create joint accounts with other states. In the meantime, most people will use a pooled trust or special needs trust.

Family Limited Partnership Tax Benefits

Posted by John Sweeney | Aug 17, 2015 | 0 Comments

The tax games available for Family Limited Partnerships are about to be severely limited.   FLP's are often used for tax limiting purposes in estate planning and the transfer of business ownership.   On August 6, 2015, the Department of the Treasury issued Notice 2015-54 announcing its intent to...

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Elder, Wills, Estates, Trusts, Special Needs Tax & Business Law; Attorney John Sweeney

Sweeney Legal, LLC, provides legal, practical, and business counsel to Seniors, families, and businesses in the Fairfield, Connecticut area, including the communities of Bridgeport, Bethel, Brookfield, Danbury, Darien, Easton, Fairfield, New Canaan, Newtown, Norwalk, Redding, Ridgefield, Stamford, Weston, Westport and Wilton. John is also licensed in New York serving Westchester County including the towns of Bedford, Lewisboro, Mount Kisco, North Salem, Pound Ridge, and Somers.

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