As the summer ends and school starts, the family vacation(s) in the mountains or lakes are also winding down. Maybe there is still one left over the Labor Day holiday. These vacations allow for time with your parents and siblings allowing cousins to play and bond over...
A recent Facebook advertisement from the New Yorker linked to a piece written by Norah Ephron from an October 2010 issue. The stages that she describes are still apt today.When completing estate planning, it is helpful to keep in mind the expectations of children and...
After recently writing about the duties of a fiduciary, we wanted to follow up with a post on available remedies if there is a breach.Those who serve as a trustee, personal representative for an estate or attorney-in-fact to manage financial affairs are in a position...
Probate in Colorado is required to transfer assets to heirs if an estate contains more than $50,000 of personal property or real property (for example, a home in Cherry Creek or a condo in Steamboat). This low threshold means your estate may be destined for probate if...
After the loss of a loved one, a will is normally submitted to the state court for probate. Usually, the court administers the estate without much debate. The court reviews the validity of the will. Then estate assets are inventoried, liabilities paid and what remains...
When a share in a closely held family business or piece of land (i.e. the family vacation home) is passed down, it generally qualifies for a discount in value. This is because it is much harder to sell these minority stakes.In a recent post, we discussed a court...
Probate is an integral process to estate administration. Simply put, probate is the process of which a person's property is distributed to the appropriate parties. Probate takes some time because the wishes of the deceased person are usually outlined in a will, and...
When you pass away, your assets, property and everything that composes your estate needs to be dealt with. These things will be distributed to various parties. If you have it your way (by way of a will and trusts) then the probate process can be avoided or largely...
A well-established estate plan clearly defines the beneficiaries who will be receiving your assets when you pass away. Beneficiaries are named for assets such as mutual funds, IRAs, retirement plans, life insurance documents, brokerage accounts, bank accounts, 529...
