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September 2014 Archives

The living trust as an estate planning tool for Colorado citizens

Benefactors in Colorado have the option of using a living trust to provide a safe method of transferring assets to named beneficiaries. This instrument of estate planning differs from the traditional will in that a living trust includes directions for the management of property while the benefactor is alive. This can be especially useful if the benefactor serves as the trustee and loses the ability to manage the trust.

What are the types of power of attorney, and how do I get one?

Many Denver residents may be aware of the need to plan their estates, but may not understand how the process works. For instance, you may be wondering what power of attorney is and how you might go about getting one.

Joan Rivers and estate planning

The steps that the late comedienne Joan Rivers took to ensure that her final wishes were met can be used by anyone to be just as prepared for their own passing. While many people consider estate planning as nothing more than preparing a will or trust, there is much more that goes into it. For example, preparing a health care power of attorney or having a do not resuscitate order on file can guide decisions made while a person is still alive.

Understanding assets for estate planning and management

One of the most important estate planning issues for Colorado residents may be having enough money saved to address living expenses during retirement years. Without sufficient funds, there could be the need to get rid of some assets in order to handle the costs of living. Whether or not enough money has been saved, however, an estate plan is important for prescribing how one's remaining assets will be distributed after death. With a revocable trust, these directions can be changed as often as necessary to account for changes in holdings based on the liquidation of bad assets or the decrease in value of a good asset.

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