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...
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....
When it comes to windfalls of any kind, Uncle Sam usually has his hand out. But there are ways for Colorado residents to limit the taxes that heirs have to pay on any legacies they receive. Unless an estate is valued at more than $5,300,000, federal law permits each...
When parents die, their adult children not only must deal with their grief, but also tend to the practicalities of arranging their funerals and handling matters of their estates. Some Denver residents may be shocked to learn that one or both parents died heavily...
Colorado residents with large estates may have questions about the $5 million federal estate tax exclusion and how it affects them. Because it doesn't affect the majority of residents, few may have even heard of it.For example, if a resident dies in 2014, the typical...
Too many people put off the task of estate planning out of fear of confronting their own mortality or simply because they are too busy with life's day to day activities. But doing so is short-sighted in the long run and can only cause problems for your loved ones when...
Nobody likes to dwell on their own mortality, but some issues need to be addressed before health declines or the mind begins to fail. Some of those issues affecting Colorado residents of any age include planning for the distribution of assets after death.To make...
Any individual in Denver, Colorado, who has assets or a legacy to pass on to loved ones should carefully consider how wills and other estate documents are written. Failure to make wishes known and set expectations about how assets are handled could result in future...
In 2011, Congress introduced a tentative tax planning device that eventually became a permanent part of the tax code due to an act passed in 2012. Dubbed "portability" by tax agents, the new law could provide for some big tax savings if correctly implemented in an...
The life of a new parent, while often rewarding, can also be incredibly hectic. Between feeding, changing and scheduling, every day that a new parent spends with their young children can be challenging and overwhelming. New parents in Colorado and all over the country...
