Protect Your Estate with Property Control Trusts

As you create your estate plan, you will likely form an idea of how you’d like your beneficiaries to use — or not use — their inheritances. For instance, perhaps you’d like your daughter to use part of her inheritance specifically for college, or maybe you’d like to safeguard against a beneficiary you’re worried would injudiciously spend their inheritance. [...]

By |2017-08-31T13:09:22-06:00February 17, 2017|

Keep Your Medical Power of Attorney Simple: Name One Child, Not All of Them, as Agent

A key element of thorough estate planning is deciding who will have your medical power of attorney in the event you are incapacitated and unable to make important medical decisions yourself. It’s not a pleasant topic to think about, but it’s absolutely crucial if you want your wishes to be honored in such a tragic situation. Obviously, choosing who [...]

By |2017-08-31T13:13:26-06:00September 13, 2016|

Why It’s Not a Good Idea to Name All of Your Children as Your Personal Representative

Many people, when drawing up a will and full estate plan, wish to name all of their children as their estate’s personal representative(s). This is often an attempt to avoid acrimony or out of a belief that every child should “have a say.” We’ve previously written about the role of the personal representative in the estate planning process. A personal [...]

By |2016-12-27T11:06:19-06:00September 8, 2016|

Use Trusts to Your Advantage for Property Located Outside of Colorado

Do you own additional property—a vacation home or investment property, for example—outside of your main residence in Colorado? If so, you should consider creating a trust for that property. One of the primary reasons people are advised to place their out-of-state residences in a trust is to avoid going through the probate process twice (or more than twice if you [...]

By |2016-12-27T11:06:51-06:00February 12, 2015|

Have You Moved From Another State to Colorado? Review Your Estate Plan

If you’re a transplant to Colorado and you think you’re here to stay, it’s important that you update any existing estate planning documents you may have previously created in another state. By ensuring that your estate planning documents are compliant with Colorado law, you can have peace of mind knowing your estate plan will be carried out as you wish. [...]

By |2016-12-27T11:06:52-06:00January 21, 2015|

Dispute Over James Brown Estate Offers Three Important Estate Planning Lessons

The dispute over James Brown’s estate is yet another celebrity example of estate planning gone sour. In the Godfather of Soul’s case, he actually did many things right in laying out his plan—which has worked in his favor in subsequent lawsuits—but his estate is still embroiled in legal challenges. As regrettable as the situation is, the dispute over Brown’s estate [...]

By |2016-12-27T11:06:52-06:00January 2, 2015|

Essential Estate Planning: Signing a HIPAA Authorization Form

Most people are familiar with HIPAA and what the acronym generally refers to, but not everyone thinks to account for HIPAA requirements in their estate plan. A signed HIPAA authorization form, however, should be included with any medical directive you create. HIPAA is the Health Insurance Portability and Accountability Act passed by Congress in 1996. The act was created to [...]

By |2016-12-27T11:06:56-06:00November 4, 2014|

What Is a Living Trust, and Why Would I Want One?

Living trusts are a useful—and common—estate planning tool that act much like wills, allowing you to distribute property to your chosen beneficiaries as you see fit. A key difference from wills, however, is that trusts are not subject to the probate process. A living trust can be simply defined as a legal arrangement whereby property is held by one person, [...]

By |2016-12-27T11:06:57-06:00October 23, 2014|