Inheritance theft is something that can happen right under your nose. You may have been told time and again that you're going to inherit something only to find out that when your parent, grandparent or other relative dies that whatever you were promised is gone or the bank accounts are nearly emptied.
Did you know that 30 percent of seniors in Denver live on less than $20,000 per year? And 24 percent of those 60 years old or older receive food stamps? That is a whopping number of the aged population that probably have not planned for long-term health care.
Estate planning is complicated, and needs careful attention. Many people put it off, however, because it involves thinking about difficult topics like:
The expenses of round-the-clock nursing home care are exorbitant. Even mid-tier facilities in the Denver area with semi-private rooms can cost between $9,000 and $10,000 per month. According to a study by Genworth Financial, private rooms in high-end nursing homes in the huge Denver-Aurora-Lakewood metropolitan area can cost upwards of $230,000 annually.
Medicaid actually pays for a majority of the nursing home costs in the United States; however, to qualify for long-term care, a person or couple must meet specific financial criteria, which varies by state.
What exactly is a guardian? Who needs one? How do you ask the court to appoint one (and do you want to be given the job)?
You've been working hard to give your parents the care they need as they get older, but it has become too much to take on alone. So, you and your parents have made the decision to have them move into an assisted living facility so they can get the care they need.
If you’re establishing an estate plan, you are probably familiar with the term “probate.” Probate is the process by which your estate is examined and dispersed after your death. It can be extremely expensive for your family and extremely public – all probate court proceedings are a matter of public record. All estates must go through probate court, but Colorado law allows some ways to establish your estate so that the process is as streamlined as possible.
Earlier this year, we took a look at why it's important to create a will and do your estate planning early on, while you’re still in good health. Now, we’ll delve into state-specific information you should know about setting up a will in Colorado.
It's hard to believe that a new year will arrive in just two months. Before you dive into the holidays that fill up these last days of 2017, take a little time to review this checklist:
People treat the probate process as if it is as inevitable as, well, death and taxes.
It's been a year and a half since Prince's passing, but the probate of his estate--the legal process for determining how to reallocate his property--continues. Some of Prince's heirs are now requesting that a new administrator take over the process, accusing their current administrator of mismanagement that has cost them millions of dollars. According to the heirs, the administrator told them that it could take as long as 14 years to finalize Prince's estate.
If you have ever wondered about the differences between Medicare and Medicaid, you are not alone. Even those who are receiving benefits from one or both programs can get confused.
No matter your level of income, your home may be one of your most valuable assets. Unlike other types of assets -- such as pension plans, stocks and 401(k) accounts -- homes and long-held vacation properties have sentimental value as well. This can make them hard to let go when the time comes.