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....
There are situations when a person in Colorado may need to become a guardian or conservator for someone else. While many people do apply for one of these roles in order to take care of a child, an adult may need help when unable to manage affairs or properly absorb...
Some families in Colorado may be interested in establishing a special needs trust for their children's benefit. In some situations, a special needs trust can be a preferable alternative to other forms of trusts because it can allow someone to transfer savings to their...
Although both types of documents are designed to aid people in distributing their assets according to their wishes, there are significant differences in how wills and trusts work. In some situations, a living trust is more advantageous, and in others, a will is the...
For Colorado residents planning their estates, there may be concerns about empowering a representative to make certain legal or financial decisions as needed under certain conditions. While a power of attorney is used to designate such a representative, the type of...
A Colorado resident or anyone else turning 65 has a 60 percent chance of needing long-term care. Statistics also indicate that 20 percent of people who reach age 65 spend at least two years in a nursing home. In many cases, people do not prepare because they believe...
Benefactors in Colorado have the option of using a living trust to provide a safe method of transferring assets to named beneficiaries. This instrument of estate planning differs from the traditional will in that a living trust includes directions for the management...
Many Denver residents may be aware of the need to plan their estates, but may not understand how the process works. For instance, you may be wondering what power of attorney is and how you might go about getting one. In general, power of attorney allows a designated...
The steps that the late comedienne Joan Rivers took to ensure that her final wishes were met can be used by anyone to be just as prepared for their own passing. While many people consider estate planning as nothing more than preparing a will or trust, there is much...
