Since March, when Americans started taking safety precautions to prevent the spread of the coronavirus, many business and personal interactions have moved online to minimize face-to-face contact. Many states – including Colorado – reacted by issuing...
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Trustees
Now is a smart time to update your estate plan, part 2
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...
It’s always a good time to get your estate planning documents in order, part 1
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...
Choosing the right trustee: 3 potential options
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...
Attorney Marco Chayet serves as local public administrator
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...
Part 2: Considerations when nominating a trustee
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...
Part 1: Should you choose a personal or professional trustee?
At our law firm, our work often involves trusts. We help people set up trusts during their lifetimes such as revocable living trusts and special-needs trusts. Some clients arrange for testamentary trusts that take effect at death through provisions in wills.Our...
Estate planning can be a gift to your surviving loved ones
As a country, we tend to avoid talking with our loved ones about the inevitable: our deaths. As 5280 Magazine recently put it, “we … tend to separate ourselves, emotionally and physically, from both the ugliness and the beauty of our inevitable...
Powers of an agent under a Colorado power of attorney
In the past week, we have talked about the power of attorney as a component of your estate plan, including what to look for in choosing your agent and his or her legal duties. Today, we will discuss the kinds of powers and responsibilities you can delegate to your...
What to consider in choosing an agent under a power of attorney
Today we continue our discussion of the financial power of attorney in Colorado estate planning. Specifically, we will touch on what is important to consider as you decide whom to name as your agent. For many people, a spouse, other family member or close friend...
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