One of the most important things adults can do to care for their family members is to ensure they have their affairs in order. Creating an estate plan is a critical step to take in order to achieve this aim. As part of an estate plan, it’s possible to set up trusts....
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Estate Planning
3 times power of attorney documents can lose their authority
A primary goal of estate planning is to have documents in place that protect an individual or their family members in the event of an emergency or tragedy. Many estate plans include powers of attorney. These crucial documents allow someone that a person trusts to...
How giving gifts can help testators avoid taxes and maximize their legacy
There are numerous estate planning tactics that may work for people in a variety of different circumstances. For those with significant personal resources, their main concerns when estate planning may include a desire to have a positive impact on their chosen...
2 groups of people to talk to about your estate plan
Many people think estate planning is something you do in secret, allowing for a grand reveal when you die. Yet, it is much better if you tell certain people about your plans now. Here are some of the people you need to converse with: Those you wish to give a...
When should you update your estate plan?
Estate planning is something that’s commonly associated with elderly individuals. Nonetheless, estate planning can benefit anyone who is over the age of 18. That being said, an estate plan is only useful if it is completely up to date. Outdated estate plans may not...
What is fiduciary litigation?
Fiduciary litigation in Colorado can be a complex legal process, often arising when disputes emerge regarding the actions or decisions of someone entrusted with managing assets on behalf of others. Fiduciaries A fiduciary can include trustees, executors, guardians,...
What to know before naming an executor of the estate
One of the most important parts of an estate plan is the executor of the estate. An executor can be anyone, typically family members. The executor is responsible for processing the will and distributing assets to beneficiaries. However, the role is not so simple and,...
Don’t forget small personal assets when estate planning
Estate planning is a very personal process, which means that everyone has their own priorities and goals. People have different wishes that depend on their family relationships, religion, political beliefs and personal holdings. Individuals with significant personal...
How having a baby can change one’s estate planning needs
New parents often have quite a lot to worry about after having a baby. One parent, possibly both, will take a leave of absence from work. That can put a strain on the household finances unless employers provide paid leave. Additionally, needing to provide for every...
Should I get a special needs trust for my child?
Parents work hard to take care of their children. Few work harder than those with children who have special needs. These children grow into adults who will likely need more care and support from their parents compared to their peers. It is common for parents to worry...