When planning for the future, people can develop various types of trusts, depending on their wishes and needs. Here is a look at some of the more common types of trusts. When it comes to developing a trust, people will have a number of different options from which to choose, and the best choice (or…
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…
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…
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…
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…
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…
A recent poll of randomly selected households across Colorado found that the majority of the state’s residents support some form of legal recognition of same-sex relationships, either through marriage or civil unions. Residents over 65 were less likely than younger Coloradans to support gay marriage, but almost half support civil unions. Voters under 34 were…
There are plenty of reasons why people fail to plan what will become of their assets and possessions after death. Some are uncomfortable thinking about the end of their lives. Others assume that their lack of descendants or valuables means that there will be nothing to sort out after they die. Still others are so…
Choosing a professional to help manage your assets is not a decision that should be made lightly. Whether you are looking for a trustee, a conservator or a power of attorney, you want to make sure that the person who makes financial decisions on your behalf is trustworthy. As we get much older, this task…
