You probably have plans on how your estate should be distributed to your loved ones after you are gone. However, you should not limit your estate plans to just a will. It could end up negatively affecting your beneficiaries and the estate at large. A trust is one of...
Many people start with a will when creating an estate plan and then add more documents as their family grows and their personal circumstances change. They will make updates occasionally, likely to remove beneficiaries or add new assets. When you draft new documents or...
You likely have taken an important step in your estate planning even if you haven’t started developing your will, trusts and other documents. That is designating the beneficiaries for your individual retirement accounts (IRAs). You do that on the accounts themselves...
The Colorado Medicaid program allows those with few assets and limited income to access medical care. Many older adults will eventually need to apply for Medicaid, and without proper planning, there are numerous pitfalls to that process. Medicaid is a needs-based...
There’s actually no limit on the number of wills that you may write in your lifetime. Life can change, and your will should reflect things like births in the family, deaths, the evolution of your personal relationships and the ups-and-downs of your fortunes. It’s not...
A trust is a powerful tool and a smart thing to include in your estate plan. However, there are limitations. For example, the trust will only be as good as the trustee you choose to administer it. The trustee you choose has complete control of the assets you put in a...
There are many different types of trusts that you can use and many different ways to set them up. It's all about identifying your own goals and then determining what will work best in that case. One type of trust is known as a discretionary trust. Unlike something...
Creating a will is the responsible thing to do. After all, it ensures that your assets are distributed based on your wishes and helps reduce the likelihood that your estate will have to go through probate. When you create a will, making sure you do it right is...
Businesses can fail at any time, but major transitions are when an organization will be particularly vulnerable. The departure of an executive, manager or owner due to death, health issues, criminal prosecution or retirement doesn't always mean that a business will go...
You know that you'd like to use a trust to leave money to your grandchildren. They are still minors, so you don't want to leave them the money directly, but you want to make sure that it's there for them. The problem is that you don't know exactly what the future...
