Whether someone is planning for their later years in life, or they are just trying to strategically place their property and assets in the right place for estate purposes, a trust can help their cause. One common type of trust is the living trust. The living trust...
Utilizing trusts in your estate plan can be a very helpful way to save money and protect yourself (and your loved ones and beneficiaries) from estate taxes. Even though trusts are just a tool to help people building their estate plans, many people may shy away from...
In our last post, we began a two-part discussion of probate: what it is, how it works and what you can expect if you are involved in the probate process. We also mentioned that probate can lead to some financial costs and fees, which naturally leads to this question...
The decision specifically affects an estate-planning tool called an intentionally defective irrevocable trust (IDIT). This trust allows an individual to exclude trust assets from his or her estate for estate tax purposes. The creator of this type of trust (grantor)...
An irrevocable life insurance trust (ILIT) can both hold a life insurance policy and take the place of an outright distribution to beneficiaries. A major advantage of this type of trust is it allows you discretion to provide for special needs that might relate to the...
It seems unimaginable in your 30s or 40s. You may be so busy working long hours and raising young children, that the possibility of losing your spouse or partner never even crosses your mind. A tragic reminder came at the beginning of this month. Sheryl Sandberg, the...
All parents want what is best for their children, and estate plans are often created with this goal in mind. For parents of disabled children, this need is especially pressing – most will want to ensure that their child’s quality of life will not be compromised after...
Colorado residents who are looking for worthy recipients to list as beneficiaries of some or all of their assets after their death might want to consider the American Society for the Prevention of Cruelty to Animals. It can be especially easy to help animals needing...
When engaged in estate planning, individuals and couples often explore a very wide range of options. While typically they will work with professionals to do the planning, it can help to have some knowledge about the options before discussing them. One option is a...
What if you have a loved one who is disabled or unable to care for him- or herself, and you want to make sure he or she is financially taken care of if something happens to you -- or you just want to put aside some money for him or her? This is when you should contact...
