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…
