A trust may be modified under Colorado law for a number of reasons. Circumstances may change so that the trust no longer effectively carries out the wishes of the settlor. Terminating a trust early or modifying its terms is not generally a simple process. Modification...
A new year is an excellent time for Colorado residents to take stock of their estate plans. Changes in federal tax laws can be evaluated to determine the potential impact on one's heirs. Additionally, this is an important time to make adjustments related to major life...
Colorado individuals who are contemplating planning the disposition of their estates may feel that putting together a will or a trust is sufficient, but it may also be important to take steps to ensure it is less likely that those documents can be contested. Wills and...
There are several reasons why a person may need to have powers of attorney in place. For some people, delegating the ability and responsibility to work on their behalf in a single transaction may necessitate drafting a limited power of attorney for that transaction...
Many Colorado residents may wonder if they are eligible for Medicaid if they own a home. The eligibility standards for Medicaid are specific, and certain assets are used to determine eligibility. An individual who applies for Medicaid is required to list their assets...
Colorado residents who are new to the subject of estate planning may be interested to learn more about the various kinds of trusts that are available. Trusts fall into two general categories: testamentary and living trusts. A testamentary trust is set up only after...
When someone is granted power of attorney, that person is authorized to take action on behalf of another individual. What a person is authorized to do can be broad or limited in scope. In most cases, an individual is granted the power to make decisions for another...
There are several factors that an individual may need to consider prior to creating a trust in Colorado. An important question to ask is whether a trust is necessary to protect the assets within the estate. Generally, those who have more than $100,000 in assets should...
Colorado residents may benefit from learning more about the facts concerning estate taxes. The federal government taxes all gifts, generation-skipping transfers and estate taxes. Gifts that exceed specific limits may be taxable during someone's lifetime or after their...
In the state of Colorado, a person's will dictates what they want to happen to their assets or estate when they die. This legal document, which can be enforced by the court, assists family members with the division of any property, family items or financial assets....
