Colorado Estate Planning And Estate Settlement Legal Blog
The whole world probably seems like it’s gone digital in the last decade or so — and the odds are good that there’s a lot of your life contained inside some digital files as well. However, many people forget to include digital planning when they do their estate planning. Without a proper plan, your heirs and executor could be stuck…Read More
Most people in Colorado can tell you what a will is. But when it comes to things like probate and how probate works, it can be a mystery. Probate is the legal process used to transfer ownership of assets from a decedent to heirs. Estates of a decedent are considered either testate estates or intestate estates. In testate estates, a…Read More
Being a parent is a nerve-wracking job in the best of situations. When you have a child with special needs or disabilities, however, it becomes infinitely more complicated and difficult. You won’t want to make assumptions about what your child can do with his or her life, but you may find yourself worrying about what life will be like after…Read More
For many people, serving as the executor of an estate or as trustee of a trust can be a dubious honor. On the one hand, it’s a clear sign that someone trusted you, respected your ability to follow directions and make decisions and believed that you would follow his or her last wishes. However, there is a lot of pressure…Read More
When you were a child, your parents provided everything you needed. From taking you to get your hair cut to helping you figure out your hopes for the future, the guidance of your parents helped shaped you into the person you are today. Now, as an adult, you find that your aging parents are in need of support and help…Read More
Colorado state tax laws requiring estate or inheritance tax are pretty simple. There is no estate or inheritance tax collected by the state. However, Colorado residents still need to understand federal estate tax laws. When it comes to federal tax law, unless an estate is worth more than $5,450,000, no estate tax is collected. This is per IRS’s basic exemption…Read More
Prosperous individuals are fortunate enough to be able to be extravagant when it comes to collecting things they are passionate about, such as artwork or other collectibles. Wealth allows them to purchase the best of the best, affording them the opportunity to be very particular about their taste and desires. However, particular as they may be, it is usually much…Read More
If you have not updated your estate plan in the past few weeks or months, it may already be out of date. Many of the safeguards and tax-saving measures you put into place as a part of your estate plan may no longer be needed due to the extensive tax law changes — the Tax Cuts and Jobs Act (TCJA)…Read More
Regardless of your age, you may have some concerns about needing long-term care assistance at some point in the future. It is never too soon to start planning for the future, but it can be too late. The cost of long-term care The average cost of a nursing home stay in Colorado is $7,854 per month. In Denver, the cost…Read More
Many people put off creating a will or estate plan until late in life. After all, few people who are healthy and young want to consider their own deaths. However, there’s no way to predict when a sudden, debilitating medical event like a stroke could strike. Car accidents, falls and other injuries can also leave you incapacitated and unable to…Read More