Being named executor or trustee means someone trusted your judgment, but it can also put your own finances at risk. In Connecticut, failing to carry out your legal duties can expose you to personal liability.

When someone dies in Connecticut, their property may need to go through probate before it can be transferred to family members or other beneficiaries. Formal probate may be necessary when the person leaves assets that require someone appointed by the Probate Court to manage and distribute them. However, some smaller estates may qualify for a simpler process if the person owned no real estate in Connecticut in their name alone and had no more than $40,000 in certain other property.

A Medicaid Asset Protection Trust may be right for your family if you can plan well before needing long-term care, want to preserve certain assets, and are prepared to give up direct access to them. It is not an automatic or immediate route to Medicaid eligibility.

The right special needs trust depends primarily on who owns the money being placed in it. A first-party trust holds the beneficiary’s assets, a third-party trust receives assets from relatives or others, and a pooled trust uses an individual account administered by a nonprofit organization. The trust structure you choose will affect your public-benefit eligibility, trustee responsibilities, and what happens to the funds after the beneficiary dies.

When you care for a family member with a disability, you carry a worry that most people never think about: how do you leave money or property to that person without accidentally cutting off the benefits they rely on every day? It feels like a cruel catch.

When people think about estate planning, they often focus on what happens after they pass away. While distributing assets to your loved ones is certainly an important part of the process, many estate planning tools are just as valuable during a person's lifetime. In the scope of elder law, planning ahead can help you prepare for life's uncertainties, including the possibility of illness, injury, or declining health. One of the most versatile tools available for this purpose is a revocable living trust.

Planning for the future is one of the most meaningful steps you can take for yourself and your family. At The Law Office of Marialta Z. Sparagna, I work closely with individuals and families to put thoughtful estate plans in place that reflect their values and priorities. Based in Bloomfield, Connecticut, I serve clients in Simsbury, Bantam, and throughout Hartford County and Litchfield County.