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Dennis C. Carroll, Esq.
Sep 26, 20232 min read
Should I put my retirement account into a trust?
A trust can't own an individual retirement account (IRA) since a trust is not an individual. If you absolutely wanted to put the assets...


Dennis C. Carroll, Esq.
Sep 19, 20232 min read
Does putting my house in a trust save on taxes?
If you're using a revocable living trust, meaning you can change the trust and you keep possession of house that's inside the trust, then...


Dennis C. Carroll, Esq.
Jul 20, 20231 min read
Can I have a hand-written will like Aretha Franklin?
Yes, as long as it is in writing and signed by the person making the will and signed by two witnesses, Connecticut law will recognize the...


Dennis C. Carroll, Esq.
Jun 12, 20232 min read
Are there benefits to gifting your home before you die?
If you own your home on the day of your death, or your life tenancy ends, then before the home can be sold to a third party, your estate...


Dennis C. Carroll, Esq.
Sep 27, 20221 min read
Do I have to file a Gift Tax Return?
Yes, any time you make a gift to someone in an amount larger than $17,000. You report the gift amount that is more than $17,000 on a gift...


Dennis C. Carroll, Esq.
Jul 8, 20222 min read
Who should sell inherited property?
After an estate asset is approved by the local probate court to be distributed to estate beneficiaries, the asset’s cost basis becomes...


Dennis C. Carroll, Esq.
Jun 14, 20211 min read
Trust v. Will
The main difference between a trust and a will is that the will's instructions must be approved by a court before being carried out. ...


Dennis C. Carroll, Esq.
Feb 13, 20201 min read
Do I have to report money I inherited on my income tax return?
No, but if you put that money into a bank account that earns interest then you'll report the interest income. If you stuff that money in...


Dennis C. Carroll, Esq.
Nov 15, 20191 min read
How much money can I gift to someone?
A lot of clients ask:
How much money can I gift to someone?
Answer:
In 2019 & 2020, you can gift $15K, to one person, without filing a gift
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