Organize Your Tax Info for Next Year!

Posted By Irene C. Olszewski, Esq. on April 17, 2012

Today is April 17th, the deadline for filing your income tax return on time. If you’re like the millions of other people who hate tax time because you have a tough time organizing all those W-2s and receipts, it’s too late for me to help you out with your 2011 filing mess — but it’s not too late to get yourself better organized for 2012.

file foldersThe folks at The Motley Fool have a great article on the subject. They suggest a simple system for organizing your tax information that includes setting up 3 folders: Income, Expenses & Deductions, and Investments. If you take their advice, your 2012 tax returns won’t cause the usual anxiety (or messy kitchen table).

Read Get Organized for the IRS.

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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Tax Deadline Approaches

Posted By Irene C. Olszewski, Esq. on April 16, 2012

While many people have already filed their state and federal tax returns, there are a few stragglers our there still hoping to file by the April 17th deadline.  That’s tomorrow, folks!  If you are going to miss the deadline, be sure to speak with your accountant about filing an extension.

For future reference, visit the Connecticut Department of Revenue Services website that provides information on when you can expect your refund here.

For refund status for your federal return through the IRS, go here.  Be advised that in order to use this service, you must know your exact refund amount.

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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Fast Friday Round-Up 4/13/12

Posted By Irene C. Olszewski, Esq. on April 13, 2012

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Ah, it’s Friday yet again. Friday the 13th, no less. Yikes!

Conn. judge rejects sealing case of teen boys accused of girl’s group sex assault

Married to the Company: When Your Business Partner Is Your Spouse

House Votes To Repeal Death Penalty

N.R.A.’s Influence Seen in Expansion of Self-Defense Laws

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Follow the Law Offices of Irene C. Olszewski, LLC on Facebook for all posts from both of my blogs as well as additional stories and links. Be sure to LIKE our page.

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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What is Considered Probate Property for a Decedent’s Estate?

Posted By Irene C. Olszewski, Esq. on April 12, 2012

moneyWhen a Connecticut resident dies, his or her estate is handled by the Probate Courts in the town in which that person lived at the time of death.  There is often confusion about what property is considered part of the Probate estate.  In simple terms, the following property is included:

1.  Real Property owned solely by the decedent (person who died) or as a tenant in common with another person.  In the latter, another person owns a portion of the property but there is no designation by law for how that property passes when the co-owner dies.  Married couples generally own real property in survivorship rather than as tenants in common, meaning that when one spouse dies, his or her interest in the property goes to the surviving spouse.

2.  Tangible personal property such as automobiles, jewelry, antiques, art collections and the like.

3.  Bank accounts that are solely titled to the decedent and do not designate a beneficiary on the death of the decedent.

4.  Interests in partnerships, corporations, or limited liability companies.

Life insurance policies are not considered Probate property unless the named beneficiary of the policy is the estate of the insured person.

Navigating the Probate process can often be difficult.  If you are named executor under a decedent’s Last Will and Testament, you may find it prudent to retain the services of an attorney who handles decedent’s estates.  For more on the topic, visit my webpage here.

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Follow the Law Offices of Irene C. Olszewski, LLC on Facebook for all posts from both of my blogs as well as additional stories and links.  Be sure to LIKE our page.

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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Connecticut Women’s Education and Legal Fund (CWEALF)

Posted By Irene C. Olszewski, Esq. on April 11, 2012

cwealf

The Connecticut Women’s Education and Legal Fund (CWEALF) was founded in 1973 to advance the rights and opportunities of women.  They assist women and low-income residents in navigating the legal and social services system in this state.

“CWEALF’s work is divided into three core programs, Legal Education, Public Policy and Advocacy, and Research and Evaluation.Through these programs, CWEALF initiates services to educate and empower women and girls to ensure they have the tools, knowledge and avenues to reach their goals.’

It is an organization worthy of your donations. They are also in need of volunteers.

CWEALF will be sponsoring a couple of important events this year that you might want to investigate:

April 13, 2012 — Girls & STEM Expo — a one-day event with workshops designed to promote middle school girls’ interest in Science, Technology, Engineering, and Mathematics (STEM) education and careers. Each one-day Expo consists of workshops and team-building exercises led by women engaged in STEM careers.

October 2, 2012 — One Woman Makes a Difference — to celebrate women in Connecticut who help move the state forward by their contributions in the legal arena, educational institutions, workplace, and/or civil rights and advocacy work.

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Follow the Law Offices of Irene C. Olszewski, LLC on Facebook for all posts from both of my blogs as well as additional stories and links.  Be sure to LIKE our page.

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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The Differences Between Mediation and Collaborative Divorce

Posted By Irene C. Olszewski, Esq. on April 10, 2012

I’ve posted more than once on the 3 models available to couples who wish to obtain a divorce:  litigation, collaborative divorce and mediation.  Each is very different from the others.  When contemplating divorce, it is important to explore all the options with an attorney prior to filing the action.

For more on meditation, read my earlier posts:  Is Divorce Mediation for Me? and Mediation for Divorcing Couples with Children.

To explore collaborative divorce, read a sampling  of my previous posts on the topic: Why I Prefer the Collaborative Divorce Process Over the Traditional Litigated Divorce and Collaborative Divorce: A Client-Centered Option and Divorce without the Court Battle: Collaborative Divorce.

While browsing the web, I came across an insightful post authored by my colleague,  C. Sean Stephens, an Oregon attorney who practices divorce law. In it, he discusses the key differences between mediation and collaborative divorce. I thought it was worth passing along:

How Is Collaborative Divorce Different Than Mediation? [Collaborative Divorce Northwest Blog]

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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Sorry, It’s Not Your Inheritance … Yet!

Posted By Irene C. Olszewski, Esq. on April 9, 2012

A few weeks ago, I overheard a conversation between two guys who appeared to be in their early forties.

“Since my father retired,” the first guy said, “my parents are spending money like water.”

“I know what you mean,” said the second guy, “mine are doing the same thing.”

RV“They just bought a huge RV bus that cost well over a hundred grand!” guy #1 exclaimed.  “At the rate they’re spending my inheritance, there won’t be anything left!”

His inheritance?  Um, sorry mister, but it’s not your inheritance until you actually inherit it.

Your parents are not obligated to leave you a dime.  They accumulate assets and wealth over the course of their lifetime and they are free to do with it what they choose.  Yes, they can spend a hundred grand on an RV if they want to tour the country.

Heck, they can book a cruise every week if they want to see the world.  They can buy shiny new sports cars and thousand dollar suits, join the tennis club or buy a fifty foot yacht complete with a crew.  They can do any darn thing they please with your inheritance … including blowing every last cent of it.

Every person has a choice as to whom they will leave their estate upon their death.  If your parents choose to leave you their entire estate, they will instruct their attorney to state that intention in their Last Will and Testament.  If they choose to leave their entire estate to your sister (because you’re obviously an idiot), they will tell their lawyer to disinherit you.  Hey, maybe they don’t like any of their kids very much.  They can leave the whole ball of wax to some charity.  That would fix those nasty kids.

Bottom line:  just because your parents have accumulated some money or assets does not automatically mean it will become your inheritance when they die.

By the way, they worked for it … so why shouldn’t they enjoy it while they are still alive and kicking?

Just a thought.

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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Fast Friday Round-Up 4/6/12

Posted By Irene C. Olszewski, Esq. on April 6, 2012

Fast-Friday-LOGO-300x98

It’s Fast Friday! Here are some news items you might find interesting. Enjoy the weekend, folks!

‘Bysiewicz Bill’ Among Many Approved By Judiciary Committee

State Supreme Court Rules Against Crime Victim In Privacy Case

Arizona Medical Marijuana Law: Gov. Jan Brewer Signs Measure To Ban Medical Marijuana On College Campuses

Democrats boycott Coke, Walmart over voter ID laws

Appeals court fires back at Obama’s comments on health care case

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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Blumenthal to Introduce Bill Banning Employers from Requiring Social Media Passwords

Posted By Irene C. Olszewski, Esq. on April 5, 2012

social-media-300x213With the ever-growing popularity of social media sites such as Facebook and Google+, the concerns of employers over what their employees and prospective employees are posting online continues to grow.  Employers in some states have considered requiring passwords for social media sites from employees and job candidates.

There is huge concern among employees and job seekers — as well as lawmakers — concerning the privacy issues that are violated when an employer demands a password to one’s private information.  To that end, Senator Richard Blumenthal (D-CT) has vowed to introduce a bill banning such practices.

According to an article published in this week’s Connecticut Law Tribune:

“Blumenthal called Facebook password requests an “unreasonable invasion of privacy for people seeking work,” and said constituents have complained about the practice. “These practices seem to be spreading, which is why federal law ought to address them. They go beyond the borders of individual states and call for a national solution,” said Blumenthal.”

Read:   Senators May Have Last Word On Passwords [CT Law Tribune]

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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Is it Time to Update Your Will?

Posted By Irene C. Olszewski, Esq. on April 4, 2012

WillAssuming you already have a valid Last Will and Testament, when should you update the document?   If you have a Will, read on.  If not, call your lawyer and have one drafted.

In general, your Will should be updated if you marry or divorce.  Your present Will may not reflect your intentions accurately.  For example, while you are married, you likely want your estate to pass to your spouse if you die first.  You are also likely to want your spouse to oversee bequests you leave to your children.  After a divorce, the opposite is usually true.

If one of the beneficiaries named under your Will dies, you should review it to determine if you planned for that event under the terms of your Will.  Likewise, if you give birth to — or adopt — a child, it’s important to update your Will to include provisions for that child.

When your assets change — such as winning the lottery or receiving an inheritance — you should have your attorney revise your Will to reflect those newly acquired assets.  If you have minor children, this is critically important if you want to control how that money will be used for their benefit after your death.

There are other circumstances under which you should consider updating your Will.  When in doubt, consult a licensed attorney.

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Follow the Law Offices of Irene C. Olszewski, LLC on Facebook for all posts from both of my blogs as well as additional stories and links.  Be sure to LIKE our page.

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Disclaimer: The information, comments and links posted on the blog do not constitute legal advice. I will not respond to any specific legal questions in the comments section of this blog. Read my entire disclaimer.

copyright 2012 Irene C. Olszewski

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