Colorado Estate Planning And Estate Settlement Legal Blog
In our last post, we examined some of the time- and cost-saving benefits of a living revocable trust. However, if the revocable trust is not funded properly, the trust documentation will be of no more value than blank pieces of paper. After creating the trust document, the next step is to change titles and beneficiary designations for every asset that you…Read More
While many people understand how crucial it is to plan ahead, some postpone setting up a will, for various reasons. For example, some people are hesitant to contemplate their own death or feel as if they are too busy to set aside time for estate planning. The Hughes Law Firm understands the different challenges that people may be facing in Denver, and other parts…Read More
A living revocable trust is an increasingly popular option for two reasons: (1) It avoids the unnecessary time, delay and costs associated with probate; and (2) The creator retains complete control. For example, the individual who creates the revocable trust can also serve as the trustee and name himself or herself as the sole beneficiary. As trustee, the individual has…Read More
After a close family member has passed away, the last thing you want to worry about is debt that was left behind. A decedent’s debts usually disappear upon death. Unfortunately, this is not always the case, leaving mourning family members with big bills to pay. The average American dies with more than $60,000 in unpaid debt according to a study…Read More
A few decades ago, children with severe physical and mental disabilities were not expected to outlive their parents. However, medical advances and specialized care allow these children to live into advanced adulthood. This good news raises concerns for their parents. Who will care for my adult child when I am gone? If you have an adult child with special needs,…Read More
Do you have an estate plan? Does the thought of drafting your last will and testament feel overwhelming? Congratulations on making the decision to plan for your future and the future of your family. Now, it is time to address the next step: meeting with a lawyer. Depending on your situation and assets, estate planning can be relatively simple or…Read More
It may seem like a rather odd gift for a young adult, but if your child is about to turn 18 years old sometime this coming year, consider making a birthday present of a simple estate plan. It isn’t as morbid as it sounds. Having an estate plan is part of being an adult. It’s also important that you teach…Read More
