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...
Estate Planning
How does a divorce affect your estate plan?
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...
How should you include your special needs child into 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...
What is POA abuse?
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...
Planning for the potential of estate taxes
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...
What are the two main types of living trust?
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...
4 times you should update your will
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,...
How can an estate plan improve your quality of life?
If you are thinking about setting up an estate plan, it is important to understand the different ways in which planning ahead and protecting your assets can benefit you now. For example, many people find a sense of freedom and feel relieved when they know that their...
5 mistakes to avoid when it is time for an estate plan
Perhaps you suffered a minor injury in a traffic accident, which was enough to make you think seriously about your future and the future of your family. That chain of thought led to contemplating estate planning tools like wills and powers of attorney. Here are five...
How can you include pets into your estate plan?
In the U.S., the National Law Review claims that over half of American households have a pet. Despite pets being a huge part of people’s lives, they still forget to include them in the estate plan. If you have a beloved pet, there are pet trusts. What is a pet trust?...