Although both types of documents are designed to aid people in distributing their assets according to their wishes, there are significant differences in how wills and trusts work. In some situations, a living trust is more advantageous, and in others, a will is the...
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Year: 2014
What “hot powers” does a power of attorney confer?
For Colorado residents planning their estates, there may be concerns about empowering a representative to make certain legal or financial decisions as needed under certain conditions. While a power of attorney is used to designate such a representative, the type of...
What are the benefits of care planning?
A Colorado resident or anyone else turning 65 has a 60 percent chance of needing long-term care. Statistics also indicate that 20 percent of people who reach age 65 spend at least two years in a nursing home. In many cases, people do not prepare because they believe...
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...
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. In general, power of attorney allows a designated...
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...
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...
Do I need long-term care planning?
Savvy Colorado residents prepare ahead of time for their future with financial estate planning, but another important aspect often gets overlooked -- long-term care.What is long-term care? Long-term care encompasses many services and assistance required by those with...
Robin Williams left trusts for his 3 children
The recent suicide of actor and comedian Robin Williams has been all over social media and the news. As the former funnyman allegedly didn't leave a note, the reasons behind his final act of despair may never be fully understood by Colorado residents and others....
Getting your affairs in order with a medical power of attorney
An often overlooked but vital part of estate planning concerns making decisions about end-of-life matters. Facing one's own mortality makes many Colorado residents and others uncomfortable. But leaving matters to chance can place you in an extremely vulnerable...