There are many different situations in which a Coloradan could end up having fiduciary duties in relation to a loved one or a loved one’s estate. This is because there are several different fiduciary roles individuals in the state are sometimes named for by a...
Preserving funds through your retirement and end-of-life care becomes even more important when an adult child cannot provide self support. Medical treatment and better care mean that loved ones with disabilities are living longer. This is a success story, but one that...
Estate tax rules are constantly discussed by politicians. In this election cycle, one of the candidates has suggested doing away with what he calls the "death tax." Thus, it may not come as a surprise that tax rates and exemption levels on estate have changed 20 times...
When a share in a closely held family business or piece of land (i.e. the family vacation home) is passed down, it generally qualifies for a discount in value. This is because it is much harder to sell these minority stakes.In a recent post, we discussed a court...
We haven’t covered estate taxes frequently in this blog, because the federal threshold for 2016 is $5.45 million per individual. That means that couples can pass $10.9 million without Federal gift and tax consequences. The yearly gift exclusion remains $14,000. But...
Whether appointed a personal representative or a trustee, you cannot overlook digital assets. An online brokerage accounts comes with a known value. But other accounts such as iTunes or Pokémon Go! (level 14 is bringing in more than $100 on eBay) have value. Online...
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.When structuring an estate plan, it is vital...
One of our own, founding attorney and partner Marco Chayet, is proud to announce that he will be assuming an important new role as Board Chair of the NextFifty Initiative, an organization aimed at increasing the quality of life for Colorado's aging population. What is...
In our recap of the latest legislative session, we get to revisit a subject from last summer: digital assets. Colorado has enacted the Revised Uniform Fiduciary Access to Digital Assets Act. It will become effective at the beginning of August.Last summer, in our July...
It can be a challenge to change an irrevocable trust. Decanting in the trust context allows a trustee to pour the assets of one trust into another under special circumstances. Our January 8, 2014 blog covered the basics of decanting. At the time, 21 states had...
