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Adding a trust to your estate plan can protect your loved ones and give you more control over your legacy. Unfortunately, a trust is often only as good as the trustee you name. If you choose someone who turns out to be unethical and who has no qualms about stealing...
One of the most important things to consider when creating an estate plan is who to name as your estate executor. It is a big responsibility with potentially minimal reward. You could choose a family member or friend. Alternatively, you could opt for someone who does...
An estate executor has the important job of upholding the estate plan. It may be just a simple will, or it may be a complex plan with numerous assets. Either way, it is the executor’s job to adhere to the wishes expressed in those documents. For instance, the...
The responsibilities of the personal representative of an estate are not ones you should take lightly. The role requires a commitment to process and detail, and strict adherence to Colorado probate laws. What happens if you neglect these duties?You may find yourself...
Serving as legal guardian of another adult is sometimes necessary to ensure their safety and well-being. It is also a big responsibility, one that requires time, patience and a good heart. This commitment may pull you away from your normal life, including potentially...
Every estate needs a personal representative (also known as an executor). This personal representative might be named in someone’s last will and testament, potentially with a conversation beforehand. In other cases, a court might appoint a personal...
A professional may pad billing statements claiming extra hours managing a trust for a disabled client. A son or daughter might claim he or she was just borrowing from mom’s account to explain missing money. What can be done to identify these issues, stop the...
There are many reasons someone would want to make charitable giving part of their estate plan. Not only can it help reduce the tax burden, doing so can leave a positive, long-lasting impact on a community.The unfortunate reality, however, is that there are some people...
Have a family burial plot and casket burial become a thing of the past? Not yet, but more are looking for other options. For instance, 80 percent of boomers are opting for cremation. Many are leaving more preferences for their memorial service and final resting place...
Often, siblings are in their 60s or 70s, but rivalries remain and may have only intensified over the years with career and financial success or lack thereof. From the time Mom or Dad needs more care, the disagreements can start.Comprehensive estate planning and candid...