While educating yourself on estate law in Colorado to help your aging parents with estate planning, you learn about conservatorship and guardianship. Do you understand how the two relate to estate planning and administration? The Motley Fool breaks down the financial-...
As with any family in Colorado, your family probably has its fair share of disagreements and conflicting opinions. Because this is perfectly normal, addressing everyone's concerns as part of your estate planning efforts can help you prevent familial discord after your...
When a loved one or dear friend dies, not only is it an emotional time, but it may also be confusing as to how to administer the estate. Probate is the legal process to distribute the decedent’s property and other assets. In Colorado, probate can range from simple to...
If you have already written a comprehensive estate plan, you are probably doing better than your neighbors. After all, a recent survey found that as many as 6 out of every 10 Americans do not have even a basic will. It is usually a good idea to review your estate plan...
Most parents consider how they will include their children in the estate plan. If you are the parent of a special needs child, it is even more important to plan for your child’s future. Sometimes, Medicaid or Supplemental Security Income benefits do not cover a...
According to the Consumer Financial Protection Bureau, a power of attorney is a document that permits another person to act on your behalf. If you can no longer make decisions for yourself, you can choose someone that you trust to make financial decisions. A power of...
An important component of any estate plan in Colorado is a strategy to account for the potential for estate taxes. Most people may view such an expense as inevitable, yet that is not the case. Per the Colorado General Assembly, the state has not collected estate taxes...
Most adult Americans are familiar with the concept of a will. However, many people have no idea of the benefits associated with living trusts. While a will can do many things, there are some limitations. For this reason, many estate planners elect to have both wills...
If you are like many Americans, you may not have taken the time to create a will yet. According to a survey released by Caring.com, only 4 out of every 10 people in the U.S. has a will or a living trust. A will lets you name a guardian for any of your minor children,...
Even if you do not have much in the way of valuable assets, an estate plan is essential if you are a parent. You should choose a guardian to take care of your children in case you should die before they come of age. Obviously, you must choose a guardian who loves the...
