Colorado individuals who are contemplating planning the disposition of their estates may feel that putting together a will or a trust is sufficient, but it may also be important to take steps to ensure it is less likely that those documents can be contested. Wills and...
More Than 20 Years Of Serving Colorado Families And Businesses In Times Of Need
Year: 2014
Powers of attorney in Colorado
There are several reasons why a person may need to have powers of attorney in place. For some people, delegating the ability and responsibility to work on their behalf in a single transaction may necessitate drafting a limited power of attorney for that transaction...
Eligibility for Medicaid as a homeowner
Many Colorado residents may wonder if they are eligible for Medicaid if they own a home. The eligibility standards for Medicaid are specific, and certain assets are used to determine eligibility. An individual who applies for Medicaid is required to list their assets...
Understanding the different kinds of trusts
Colorado residents who are new to the subject of estate planning may be interested to learn more about the various kinds of trusts that are available. Trusts fall into two general categories: testamentary and living trusts. A testamentary trust is set up only after...
Defining power of attorney for Colorado residents
When someone is granted power of attorney, that person is authorized to take action on behalf of another individual. What a person is authorized to do can be broad or limited in scope. In most cases, an individual is granted the power to make decisions for another...
The benefits of a trust
There are several factors that an individual may need to consider prior to creating a trust in Colorado. An important question to ask is whether a trust is necessary to protect the assets within the estate. Generally, those who have more than $100,000 in assets should...
Understanding estate taxes
Colorado residents may benefit from learning more about the facts concerning estate taxes. The federal government taxes all gifts, generation-skipping transfers and estate taxes. Gifts that exceed specific limits may be taxable during someone's lifetime or after their...
Drafting wills in Colorado
In the state of Colorado, a person's will dictates what they want to happen to their assets or estate when they die. This legal document, which can be enforced by the court, assists family members with the division of any property, family items or financial assets....
Roles of conservators and guardians in Colorado
There are situations when a person in Colorado may need to become a guardian or conservator for someone else. While many people do apply for one of these roles in order to take care of a child, an adult may need help when unable to manage affairs or properly absorb...
Why create a special needs trust?
Some families in Colorado may be interested in establishing a special needs trust for their children's benefit. In some situations, a special needs trust can be a preferable alternative to other forms of trusts because it can allow someone to transfer savings to their...