Denver Estate Planning & Elder Law Blog

A poll by TD Wealth asked attorneys, trust officers and accountants this very question. Their answer was family conflict – nearly half were on the same page that this is the biggest threat.

Modern families come in many shapes. Blended families may include children from prior marriages/relationships and ex-spouses. One spouse may be much younger than the other. These are just a few of the scenarios that can complicate estate planning. CNBC reports on three issues that cause issues and tension when it comes to inheritance.

At our law firm, we provide estate planning and asset protection advice to clients in a wide variety of personal and business circumstances. When a client is a business owner, establishing a carefully thought out business succession plan is a key part of the process. Creating such a plan earlier, rather than later, can be a bonus, but at any stage of a business, succession planning can begin.

A young entrepreneur can be so immersed in running a new business that he or she may not yet consider what would happen to the business if he or she suddenly became unexpectedly seriously ill, disabled or even deceased. A family business owner may not have considered how to protect his or her spouse and children financially if presented with any of these scenarios.

Prescribed for a variety of disorders including anxiety, insomnia, restless leg syndrome and depression, one class of drug is contributing to more injuries and deaths among older adults. “Benzos” is the short for a class of benzodiazepines such as Xanax (alprazolam), Ativan (lorazepam) and Valium (diazepam).

Many people take these drugs for years and become accustomed to them. This often means increased doses and added medications to the mix. The use in older adults has been increasing along with “z-drugs” (i.e., Ambien and Lunesta) prescribed for insomnia.

A recent Colorado Court of Appeals illustrates what can go wrong following the death of a loved one. From determining whether what a parent did was a mistake or part of a plan to flawed attempts to avoid litigation, the case raises issues about pay-on-death designations, special needs trusts and conservatorship fiduciary responsibilities.

Because the number of topics, this case warrants a two-part post. We’ll go into more detail about the facts in this post and describe breach of fiduciary duty in the next.