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A trust is an estate planning tool that not enough people utilize. People often think of trusts as tools for the incredibly wealthy who want to provide regular income for children or grandchildren. While that is one goal individuals can achieve with a trust, trusts...
Families usually expect a will to accurately describe a departed loved one’s legacy wishes. Those who are legal adults and who retain their testamentary capacity can leave instructions about their resources after their death. Unless their documents violate state law,...
Many Colorado testators who write wills talk openly with their family members about their intentions. They leave the majority of their resources for their closest loved ones, including their spouses and children. There are no surprises when reviewing such a will after...
When someone dies, family members will eventually need to sit down and look over their will or other estate planning documents. Oftentimes, people know exactly what to expect because older adults have communicated with their loved ones about what will happen with...
Many adults in Colorado choose to draft a will that designates specific beneficiaries for their various assets and that potentially names someone they trust to serve as a guardian for their children. After someone dies, their will determines who inherits from their...
The average adult knows that estate planning is important, but they may view it as expensive or unpleasant, which could inspire them to procrastinate rather than engage in this effort. They may recognize that having a plan in place would give them peace of mind and...
The Colorado probate courts oversee the administration of estates. If someone dies without a will, probate courts help with intestate succession, which allows for the transfer of assets to specific beneficiaries in accordance with state law. If someone provides...
For many adults, estate planning is synonymous with creating testamentary documents. Wills and trusts are often the main focus of someone's estate planning efforts. Their primary objective is to provide resources for a spouse, dependent family members or perhaps a...
The whole point of getting your estate plans in order and creating a will is to avoid a lot of confusion or conflict within your family after you’re gone – but the wrong kind of will can actually create more problems than it will solve. With that in mind, it’s good to...
As a member of the LGBTQ community, you must remember three important things when it comes to estate planning: anticipate, plan and succeed. Same-sex couples must understand the legal challenges that may confront them in estate planning scenarios. In some situations,...