Colorado Estate Planning And Estate Settlement Legal Blog
Do you know what you would do if you were to suddenly become single? Whether due to death or divorce, are you prepared to take over all of the financial aspects of your life should you need to? According to the U.S. Census statistics, 59 is the average age of widowhood. The stereotype of men as the head of the…Read More
The answer is that everyone should do long-term health care planning, but long-term care insurance is debatable. According to Colorado State University, 70 percent of people 65 or older will need some type of long-term care. It may be home care, adult daycare, assisted living care or nursing home care. Long-term care is costly. For instance, back in 2013, Colorado’s…Read More
There are a lot of good reasons to do estate planning. Unfortunately, many people put it off until tomorrow. But can we ever be sure we will have a tomorrow? Life is unpredictable. That is why estate planning is one of the best things you can do for yourself if you want to rest easy and have peace of mind.…Read More
Estate administrators take notice: It doesn’t matter if you’re handling the assets of a virtually anonymous citizen or that of a celebrity like Michael Jackson, the government wants its cut. It generally doesn’t pay to mess around with Internal Revenue Service agents. In this case, however, the administrators of the late pop singer’s estate may have caught a lucky break.…Read More
The Tolstoy adage “Every unhappy family is unhappy in its own way” is not one you wish to have applied to your family if you can help it. If you have children who are estranged from each other or are unwilling or incapable of communicating with each other, your decisions in your estate plan may cause more grief than relief.…Read More
Each state has its own statutes and requirements for wills. It pays to know your state’s requirements, or you can utilize the expertise of a Colorado estate attorney when drawing up your last will and testament. An illegitimate will could end up in probate court despite your best efforts. If you have any questions, don’t go it alone. For instance,…Read More
Setting up your estate planning documents is not a “one-and-done” event. Even if you are not the type to make New Year’s resolutions, you probably still have a “To Do” list for the year. If a review of your existing estate plan is not on that list, it should be. Better safe than sorry Review this list of questions before…Read More
A few years ago, a wealthy real estate tycoon passed away at the age of 97 with no children and no other family members. The man, a Holocaust survivor, left behind a $40 million estate, but he did not have an estate plan, not even a will – at least none that anyone could find. After a thorough worldwide search for…Read More
Many people believe that probate should be avoided at all costs. However, this is not true. In fact, some may spend more time and money trying to avoid probate than they would if they had simply followed the normal course of the probate administration process. Reasons why you may not want to avoid probate include: Liability: Creditors have only a certain…Read More
Being a successor trustee of someone’s revocable living trust is not something that people do every day. In fact, many people will never do it. That is why most people are unfamiliar with how to complete a trust settlement. There are six main steps: Do inventory. The best place to start is by gathering all of the decedent’s estate planning documents…Read More
