Estate Planning Blog by Colorado Estate Matters: Tips & Insights

A Disinheritance Can Cause Unexpected Issues

July 26, 2013 Posted In Estate Planning,Firm News,Wills

Colorado residents may want to consider one woman’s disinheritance story the next time they review their estate plans. The woman admitted that she and her father had always had a contentious relationship. However, she said they had long since reconnected and moved past their issues when he passed away in 2009. Considering the positive state…

Living Trusts 101

July 19, 2013 Posted In Probate, Estate, & Trust Administration,Trust Administration,Trusts

Colorado individuals who are contemplating an estate plan may consider using trusts as part of the plan. Living trusts provide a variety of benefits to the person making them, allowing them to determine who gets the person’s property upon his or her death. Knowing about living trusts can help individuals in Colorado establish them and…

Do Not Put Off Estate Planning

July 10, 2013 Posted In Estate Planning

Even though surveys say that the majority of Americans believe that estate planning is essential, the reality is that most people fail to plan. Unfortunately, this strategy leaves many estates up to chance. Dying intestate, or without a will, creates a tremendous amount of uncertainty. Instead of loved ones receiving the decedent’s money and heirlooms,…

Waiting on an Estate Planning Will Not Cost You

July 5, 2013 Posted In Estate Planning,Firm News,Wills

It becomes difficult to hear that Mom or Dad died but did not have time to do Estate Planning yet. Each time the loved one who has passed did not have to spend anything to put together a Will or Trust so they saved money. Now their spouse, kids or grand kids are paying the…

Estate Planning Is A Basic NEED For Everyone

June 28, 2013 Posted In Asset Protection,Estate Planning,Estate Taxes,Trusts,Wills

Some Colorado residents may have common misconceptions about what an estate is in legal terms and whether estate planning is necessary. Most people have estates, whether they know it or not: Even a child who inherited his or her grandmother’s heirloom ring or who has a savings account has an estate. If people own something…

New Tax Rules Modify Effective Estate Planning

June 14, 2013 Posted In Estate Planning,Estate Taxes,Firm News

The changes to the United States tax laws in 2012 have ramifications on estate plans. Colorado residents should consider the consequences that the tax laws will have on their individual estate planning. The goal of estate planning is to preserve assets, and the tax implications of the new laws create estate planning concerns. The 2012…

Estate Planning Basics

May 31, 2013 Posted In Estate Planning,Trusts,Wills

Colorado residents who do not have estate planning documents set up are leaving decisions up to the state. Example, where their assets will go and who will take care of their children. Many people feel that estate planning is something only the rich need to worry about, but it is important for individuals of all…

Estate Planning for Digital Assets

May 17, 2013 Posted In Asset Protection,Estate Planning

Residents of Colorado may have heard of pioneering legislation considered by the Pennsylvania legislature last year. House Bill 5580 would have allowed a person to access another person’s email or social media accounts with permission of the account holder. The bill was referred to the Judiciary Committee and no progress has been made on the…

A Good Estate Plan Can Provide a Family With a Legal Safety Net

May 4, 2013 Posted In Estate Planning,Estate Taxes,Wills

By drafting a common document, namely an estate plan, families in Colorado can prevent major headaches when a loved one dies. A recent New York Times article discusses the fact that most families fall well below the financial threshold for paying an estate tax. Even for families that may not be considered wealthy, the article…

Estate Planning is A Key Part Of Retirement

April 19, 2013 Posted In Estate Planning,Powers of Attorney,Trusts,Wills

Colorado residents expecting to retire in the next year should start planning for it. Retirement is something many individuals spend much of their lives looking forward to, but for people to be able to enjoy it, they should prepare accordingly. To ensure that retirement is relatively free of stress and that one’s future is taken…

Why People Should Not Put Off Estate Planning

April 5, 2013 Posted In Estate Planning

Many who live in Colorado feel that they do not need to worry about having a will. Most think they do not have enough money or are too young to need to think about estate planning. However, estate planning is essential, and people who already have documents in place should also be sure to review…

Sequestration Could Potentially Impact Estate Planning Strategies

March 21, 2013 Posted In Estate Planning,Estate Taxes,Firm News

Although Congress recently made a very favorable estate and gift tax exemption “permanent,” it is hard to say with certainty what changes will come into effect for residents of Colorado and other states as a result of the recent government sequestration. Under sequestration, there is a possibility that many of the following estate planning techniques…