A couple was living in Fairfield County Connecticut. They had a house in Wilton and and in Florida. They had a fair amount of assets and wanted to make sure their estate was in order and taxes were minimized.
We discussed their assets, their children and their desires. We covered all the options. We considered the federal, Connecticut and Florida estate taxes and where they should reside.
Ultimately, we determined that a Revocable Living Trust was the better vehicle to handle their assets and the additional work and cost was worth the effort. We made sure their was no estate tax.
So, we put in place a Revocable Living Trust and made sure the assets were properly moved into it. Then we drafted a new Will, Health Care Directive and Power of Attorney.
Practice area(s): Estate Planning