One of your heirs has a substantial amount of debt. You know they've had financial problems in the past, and perhaps they struggle to hold down a job. Creditors have been calling, but there's no way for them to pay. You're making your estate plan, and you're worried...
Your elderly relatives have spent decades ensuring that you and the rest of the family are looked after. At some point, however, there will come a time when these roles need to be reversed. While elderly people are often still highly independent, they can also be...
Probate litigation is sometimes necessary despite the best-laid plans of the testator. When beneficiaries believe that an executor has embezzled or made terrible decisions, they could challenge their position or ask the courts to stop them from transferring certain...
Even if you don't have significant or overwhelming debt, odds are that you are going to still owe something when you pass away. Most people will owe property taxes, income taxes, credit card payments or even mortgage payments. They're just things that are part of your...
Advanced age or medical conditions can compromise someone's ability to take care of themselves. Often, issues with financial matters are an early warning sign of someone's declining ability to live independently. It can be difficult for an older adult or someone...
When an estate is going through probate, the executor administers everything, from consolidating assets to paying off debts. Essentially, the estate is under their control. However, an executor cannot do as they please with the estate. The law requires them to act in...
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...
