Colorado Estate Matters Blog: Probate, Estate & Trust Insights

Leaving The Colorado Family Fortune Well-Attended

April 10, 2014 Posted In Asset Protection,Trust Administration

As wealth increases for families in Colorado, caring for loved ones becomes an inevitable concern when it comes to passing on the family fortune. Trust administration is one way to ensure assets are left to beneficiaries in a productive and manageable way. The temptations of wealth have proven to get the best of most people…

Common Mistakes Made in Wills

February 28, 2014 Posted In Creditors and Probate,Estate Planning,Powers of Attorney,Probate, Estate, & Trust Administration,Wills

When creating an estate plan in Colorado, creating a will is usually one of the first things to be done. It’s usually meant to preserve the peace of mind of family members and loved ones, but if not drawn up properly, it can become more hurtful than helpful. There are a few common mistakes that…

Planning Tips from Paul Walker’s Estate

February 13, 2014 Posted In Creditors and Probate,Estate Planning,Probate, Estate, & Trust Administration,Trusts,Wills

Entertainment fans in Colorado were surprised when movie star Paul Walker was killed in a car accident on Nov. 30, 2013, at the age of 40. While he left a will that provides for his daughter, people can learn some important lessons regarding estate planning from his example. His assets of about $25 million were…

Estate Planning Concern Over Tax Penalties Eased by Portability

January 31, 2014 Posted In Estate Planning,Estate Taxes,Probate, Estate, & Trust Administration,Trusts,Wills

Many families in Colorado may not fall into the mega-rich category of the 1 percent. However, it is not just the ultra-wealthy who have estate planning tools at their disposal to protect their assets. In fact, wealth-protection professionals taking part in the 2014 Heckerling Institute on Estate Planning in Orlando focused on portability becoming a…

Leaving Money to Disabled Individuals

January 7, 2014 Posted In Estate Planning,Probate, Estate, & Trust Administration,Trust Administration,Trusts,Wills

If someone living in Colorado has a family member with special needs or a disability, they may want to leave assets for them that can help cover the cost of their care. It is actually a bad idea in some cases to leave these individuals money or property in a will, as it can put…

Personal Representative’s Guide

December 4, 2013 Posted In Estate Planning,Probate, Estate, & Trust Administration

The Colorado Bar Association has created a Personal Representative’s Guide to help people understand the process and the duties of a PR in estate administration. In Colorado, a person appointed by the court named to administer an estate is known as the Personal Representative. This position used to be called an executor (male) or executrix…

Michael Jackson Estate Sued

November 7, 2013 Posted In Claims,Creditors and Probate,Estate Planning,Firm News,Probate, Estate, & Trust Administration,Trust & Will Contests

Colorado residents may have heard that Quincy Jones is filing a lawsuit against the estate of the late Michael Jackson. Jones claims that the estate owes him production fees and royalties for many of Jackson’s hits. According to the Jackson Estate, Jones worked with the pop singer for 35 years, and the man helped produce…

Spendthrift Trusts and Asset Protection

October 11, 2013 Posted In Asset Protection,Trust Administration,Trusts

While trusts are commonly regarded in Colorado and elsewhere as estate planning tools, they can also be useful as a way for people to protect their assets while they are still living. An asset protection trust, also known as a spendthrift trust, places assets into a living trust under which the trustor is also the…

Make Sure Beneficiary Designations Are Current

September 5, 2013 Posted In Asset Protection,Estate Planning,Probate, Estate, & Trust Administration

Beneficiary designations play a big role in determining the disposition of assets upon a Denver resident’s death. Typically, these beneficiaries are named in the paperwork of financial assets such as investment accounts, IRAs and insurance policies. If there is a conflict between who is named in a will and who is named as a beneficiary…

Fastidiousness is Key To Writing a Will in Colorado

August 15, 2013 Posted In Creditors and Probate,Probate, Estate, & Trust Administration,Wills

Some Colorado residents may believe that writing a will is as simple as noting their wishes on a sheet of paper and signing their name, but wills are actually complex legal documents that require significant attention to detail. Once implemented, a will can guarantee that a testator’s children, debts, and possessions are taken care of…

Key Benefits and Administration of Living Trusts in ColoradoLiving 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…

Heirs to $1 billion Must Wait for Inheritance Until Age 21

February 14, 2013 Posted In Estate Planning,Firm News,Probate, Estate, & Trust Administration,Trust Administration

Doris Duke was a wealthy philanthropist who died leaving a fortune worth around $1 billion. Her heirs are teenage twins, a 15-year-old boy and girl, each of which stands to inherit $500 million. The money was left in a trust, however, and the trustees are evidently so hesitant to administer funds from the account that…