Southbury, CT asked in Estate Planning and Probate for Connecticut

Q: I am unclear what amount should be entered in Section 3, Part 2 of form CT-706NT for my husband's monthly pension.

Should I enter the amount he received for the month of his death or do I need to figure out the total amount he has received since his retirement in 1999? There is a survivor monthly benefit which I receive for as long as I live. There was never a lump sum payment received with this pension.

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1 Lawyer Answer
Matthew A. Wiley
Matthew A. Wiley
  • Estate Planning Lawyer
  • North Haven, CT
  • Licensed in Connecticut

A: This is actually a pretty complicated question. Both options you have suggested are the wrong answer. You should meet with an attorney to discuss the options and the pros and cons of classification. From my perspective their are three options:

1. It is not listed as the type of account may be exempt (facts will matter)

2. The bank can give you a form 712 or some type of value for it.

3. You can manually calculate the time over money and include it.

I apologize for not giving you a definite answer but it is not the kind of answer you can get on an internet message board. You need to meet with a competent Estate Attorney and seek out their guidance on how to fill out this tax form.

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