Estate planning isn't just about wills and trusts. Other tools can make the transfer of assets smoother and potentially more cost-effective. One such tool in Colorado is the Transfer on Death Deed. This instrument allows property owners to pass on their real estate...
Many elderly parents who are creating their estate plans make it a goal to avoid estate disputes or probate disputes among their heirs and beneficiaries. They may have heard stories of other families getting embattled in expensive disputes that last for months or even...
It isn’t often when individuals wake up and think, “Today’s a good day to complete some paperwork.” Yet, it remains critically important to engage in certain tasks that may not be fun or enjoyable. For example, the thought of crafting an estate plan is enough to make...
If you have a minor or adult child with a disability or serious long-term medical condition, it’s crucial to set up a special needs trust (SNT) to help ensure that they’re cared for should you pass away or become unable to care for them. These trusts allow parents to...
Business succession planning is a crucial process that ensures the smooth transfer of ownership and management responsibilities from one generation to the next. It helps maintain the continuity and stability of a company, safeguarding its long-term success. It is...
In Colorado, a person who manages the probate process for someone else's estate is referred to as a personal representative of that estate. Other jurisdictions may refer to that person as an executor. The responsibilities are effectively the same regardless of one’s...
There is a lot an executor does other than just passing over an estate to its heirs. Their role is multifaceted, and understanding their duties is essential for making an informed choice when creating your estate plan. The person you appoint as the executor of your...
A trust is a legal document that puts assets in the protection of a trustee. The trustee is then responsible for seeing that the assets are distributed to beneficiaries as instructed by the grantor in their estate plan. Unlike a will, there are many kinds of trusts....
With the possible exception of businesses or investment accounts, real property is often the most valuable asset someone owns. Therefore, those preparing or updating an estate plan in Colorado often need to think carefully about what they will do with their home,...
As someone's health and family circumstances evolve during their golden years, their needs and intentions for estate planning will continue to shift as well. Eventually, for some adults, the impact of aging will influence their ability to draft legally-binding...
