Even if it seems innocuous at first, untreated hearing loss can lead to cognitive decline and other problems. These problems all have implications for daily living and the care arrangements that may be reflected in an estate plan.
Estate planning issues regarding Bitcoin and other cryptocurrency
Cryptocurrency is a concept first introduced in 2009 with the first offering of bitcoin, the most well known virtual currency. Many people do not understand the concept, but it can be an asset with value, so it should be included in the owner's estate plan. Legal concepts are evolving regarding how cryptocurrency will be passed to heirs or beneficiaries through means like gifts, wills, trusts or by operation of law like other property when someone dies without a will.
Should an estate plan update be your 2018 New Year's resolution?
People have been making New Year's resolutions for 4,000 years since the Babylonians started the practice, according to the History Channel. The beginning of a new year is a time to examine your life to see what steps you may take to make improvements, including things you might have been putting off. For many people, a smart resolution would be to establish or update an estate plan.
Unequal bequests to siblings may spur will contest
Here at Chayet & Danzo, LLC, we help clients at every stage of the estate planning and probate process. For example, we help them write wills and trusts to determine who will receive their property. We also assist people after loved ones have died to go through the probate process in court to have wills administered and property distributed as the decedent directed.
Same-sex couples should make or review estate plans
Since same-sex marriage became legal in Colorado in October 2014, it may seem that legal matters related to the marital relationship like those concerning property, inheritance, children, medical decision making, visitation in hospitals and other similar issues are resolved.
Don't leave an estate mess for your loved ones to clean up
Why is it so important to leave a road map for loved ones after you are no longer able to make decisions or communicate your wishes? If you fail to put your wishes in writing, the state of Colorado will use a default (intestacy law) to determine what happens.
Communication is key for estate planning success
Obviously, the property-specific aspects of estate planning are very important. Thoughtful and knowing use of wills, trusts, lifetime gifts and charitable bequests will serve to protect your legacy and pass as much of your assets as possible down to your beneficiaries. Estate planning tools like trusts, long-term care insurance and Medicaid planning can also help you manage the sizable costs associated with the need for lengthy rehabilitation or assistance caused by age-related health issues, accidents, injuries or illness.
Part 1: Keeping a business in the family for generations
Small family-owned businesses, farms and ranches are what give Colorado character. They are a source of jobs for local people, give back to their communities and often pay the taxes that keep schools and public service funded.
Religious values and estate planning can go hand-in-hand
Some people may assume that, despite living a life congruent to their values and deeply felt religious beliefs, that their estate plan (being a legal document) cannot incorporate their ethical and moral considerations. Thankfully, that isn't the case. There are ways in which you can protect your assets and yourself through estate planning while still remaining true to your religion's tenets.
Charitable giving must be done with due care
An important part of estate planning for many people, particularly the wealthy, is philanthropy. Being able to leave a legacy behind for a beloved charitable organization or favored cause is a priority for these individuals.
