It is never too early or too late in life to put your affairs in order. In part 1 of this series of posts, we talked about the importance of a financial power of attorney. Today, we consider advanced care planning (ACP). The Colorado Department of Public Health and...
You are young and not worried about getting a serious illness. You are optimistic and not concerned about being in an accident. You are too busy with your job and young children to get your estate planning done. You figure Colorado law will direct distribution of your...
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 damage...
A trustee - the person whom you put in charge of a trust's assets - has what is called a fiduciary duty to the beneficiaries of the trust. They must be loyal and prudent, always act in good faith with the beneficiaries' best interests in mind and adhere to...
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...
Colorado law establishes the court-appointed position of public administrator to act as a fiduciary in certain probate matters, usually when no one connected to the person or family involved is available or willing to serve. Attorney Marco Chayet has served as the...
In today’s post, we continue our discussion of the factors to consider when deciding whom to name as the trustee in a trust. In part 1, we talked about some of the reasons people ask relatives and friends to serve as trustees.Those reasons can include a...
