Colorado Estate Planning - Will You Disinherit Your Grandchildren by Mistake?
Most parents leave their estates outright to their children. They have language in their wills giving the share of a deceased child to the children of that deceased child if the child dies before the parents. But what happens when the parents die, giving the inheritance to the children, and then the children die later. In most cases, even if the children are well meaning, their inheritances will pass to their spouses. This is where problems begin. Even if you love your son-in-law or daughter-in-law, they may marry again or become ill or use all of the money. They may get manipulated into leaving money to other people at death, leaving your grandchildren out in the cold holding an empty bag.
This problem is easy to solve with a Bulletproof Trust. With proper trust planning, the funds left to a surviving child will remain in trust with all of the money available to your grandchildren when a child dies. All of the money goes to the children of that deceased child, (your grandchildren), and no one else. The ability of the Bulletproof Trust to keep family assets in the family blood line makes these types of trust extremely popular with our clients blessed with grandchildren. The use of a Colorado Living Trust with special Bulletproof Trust provisions is the answer.
Trust the System
I did something this weekend that I never thought I would do. I started the Nutrisystem™ weight-loss program.
Over the past couple of years, I’ve watched my midsection grow as my age increased. Where I used to be able to see my belt buckle when I looked down, I now have to stick my neck out. Those slacks with elastic on the sides have become my favorite garments. The buttons on my sport coats no longer match up with the button holes without sucking up.
Even though I was getting concerned about the extra 15 pounds I was carrying around, I couldn’t seem to figure out exactly how to deal with the problem. I started persuading myself into thinking that I was eating less or more healthy, but I would find myself dropping right back into the same old routine and over eat at almost every meal.
I even bought a juicer and started buying mega quantities of vegetables at King Soopers instead of potato chips, Oreos and ice cream. While my juicer served a worthwhile purpose (making me feel better about myself), it started to get old after awhile. I turned back to my old habits.
I could go on and on with all of the same excuses that you’ve heard before, but to spare everybody, I will simply cut to the solution: A system. Read more
How Does the Internet Know What You Want for Your Family?
Yesterday I had a little spare time, so I decided to surf the net to see what was out there about estate planning…and man, did I find plenty. Most of what I found were websites that promised a flawless estate plan—complete with a living trust—for under a hundred bucks. They all claimed how easy it was to “do-it-yourself” and avoid the expense of an attorney. Some even promised you could do it all in less than 30 minutes.
Intrigued at the prospect that an internet program could so completely replace me, I signed on to LegalZoom.com and paid the money to generate my comprehensive, all-inclusive estate plan for the low, low price of $149. Read more