Estate Tax

Are you looking for a way to transfer your some life insurance proceeds to your heirs without subjecting it to taxation? There are a number of ways to do it. There are also some fairly common mistakes that could cost your heirs plenty. 1. Do not make your insurance policy payable to your estate. When you pay the money out…Read More

There’s an old saying that nothing is certain in life except death and taxes. However, if the latest reports from the U.S. Treasury are any indication, taxation after death may be less a certainty and more a result of a dice roll. Investigations into the Internal Revenue Service (IRS) procedures for handling the reviews of gift and estate taxes say…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

If you have not updated your estate plan in the past few weeks or months, it may already be out of date.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

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

If you are the beneficiary of an estate or property, you need to know what the laws are regarding estate taxes. Do you have to pay an estate or inheritance tax? It depends on the state you live in and the state your benefactor lived in when he or she died. Colorado does not have an inheritance or estate tax.…Read More

If you have had a loved one pass away, then you may have heard about taxation on the inheritance you receive. The main form of taxation is an estate tax. Estate taxes, as defined by the Colorado General Assembly, are those assessed when assets are transferred upon the death of a person. Until 2004, Colorado had an estate tax, but due…Read More

Like many in Denver, you likely worry that much of the estate that you have accumulated for the purpose of benefitting your spouse and/or your children once you are gone will be eaten up in the fees associated with administration. It is for this reason that you have likely done what is needed to avoid having your estate go to…Read More