The IRS has released annual inflation adjustments for 2022. These include increased gift, estate and generation-skipping transfer tax (“GST”) exemptions and annual gift tax exclusions. The changes … [Read more...]
Archives for April 2022
FAR-REACHING FAMILY AND MEDICAL LEAVE CHANGES TAKE EFFECT IN CT
April 27, 2022
On January 1, 2022, significant changes to Connecticut’s family and medical leave statute became effective, providing enhanced benefits to eligible employees who require temporary leave from work. … [Read more...]
THE USE OF LIFETIME DISCRETIONARY TRUSTS TO PROTECT FAMILY WEALTH FROM DIVORCE
April 27, 2022
Many clients are concerned about protecting their child’s inheritance if the child later divorces. While prenuptial and postnuptial agreements may effectively waive rights to a spouse’s inheritance, … [Read more...]
NOT SO FAST! CONSIDER THESE TAX ADVANTAGES OF FORMING A CORPORATION OVER AN LLC
April 27, 2022
The limited liability company (LLC) can be a particularly attractive form of business entity for start-up founders, especially where tax advantages are of primary concern. Notwithstanding their … [Read more...]
NON-TRADITIONAL FAMILIES NOW GET TRADITIONAL INHERITANCE RIGHTS
April 27, 2022
Kate and Mary had been together since 2008 but never married. Eager to start their family, Kate was implanted with embryos created with Mary’s egg and the two happily welcomed their son Matthew. … [Read more...]