# Colorado Estate Matters, Ltd. > Because Your Estate Matters --- ## Pages - [Lakewood Estate Planning Attorney](https://www.coloradoestatematters.com/lakewood-estate-planning-attorney/): Many assume only the wealthy need estate planning, but if you have specific wishes for asset distribution, minor children, or... - [Lakewood Probate Attorney](https://www.coloradoestatematters.com/lakewood-probate-attorney/): Navigating the probate process can be overwhelming, especially during a time of grief and emotional distress. Whether you are handling... - [Maria C. 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Did your loved one... - [Arvada Trusts And Will Contests](https://www.coloradoestatematters.com/arvada-trusts-will-contests-attorney/): When you are crafting your estate plans, one of the most important things you can begin to prepare for are... - [Arvada Guardianship and Conservatorship Attorneys](https://www.coloradoestatematters.com/arvada-guardianship-conservatorship-attorneys/): If you have a loved one who is no longer able to adequately care for themselves, you may need to... - [Centennial Estate Planning Attorney](https://www.coloradoestatematters.com/centennial-estate-planning-attorney/): There is no better time than the present to get started on your estate plans. If the pandemic taught us... - [Centennial Living Trusts](https://www.coloradoestatematters.com/centennial-living-trusts-lawyer/): When a loved one passes away, their estate must go through probate before family members and beneficiaries can obtain the... - [Centennial Probate, Estate and Trust Administration](https://www.coloradoestatematters.com/centennial-probate-lawyer/): Have you recently been named as the administrator of a loved one’s probate, estate, or trust? Are you confused about... - [Centennial Trusts and Will Contests](https://www.coloradoestatematters.com/centennial-trusts-will-contests-lawyer/): One major mistake people make when writing their wills and setting up trusts is failing to consider the possibility of... - [Golden Estate Planning Attorney](https://www.coloradoestatematters.com/golden-estate-planning-attorney/): When you are getting ready to sit down and plan your estate, you may be feeling overwhelmed. 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Are you interested... - [Wheat Ridge Estate Planning Lawyer](https://www.coloradoestatematters.com/wheat-ridge-estate-planning-lawyer/): Did you recently get married? You could have added another member to your family. Or you are retiring and thinking... - [Lakewood living trusts attorney](https://www.coloradoestatematters.com/lakewood-living-trusts-attorney/): When planning your estate, one powerful tool to consider is a living trust. Living trusts can provide your family with... - [Wheat Ridge Probate, Estate and Trust Administration](https://www.coloradoestatematters.com/wheat-ridge-probate-lawyer/): Did you recently find out that you were selected as the administrator of your loved one’s estate? Do you have... - [Lakewood wills and trusts contests attorney](https://www.coloradoestatematters.com/lakewood-wills-trusts-contests-attorney/): Creating an estate plan is crucial, but sometimes disputes arise over the validity or terms of a will or trust.... - [Lakewood guardianships and conservatorships attorney](https://www.coloradoestatematters.com/lakewood-guardianship-conservatorship-attorneys/): Navigating guardianships and conservatorships can be emotionally challenging and legally complex—especially when a loved one is no longer able to... - [Denver Estate Planning Lawyer](https://www.coloradoestatematters.com/denver-estate-planning-attorney/): It’s easy to put off estate planning until tomorrow or later in life, but unexpected events can occur anytime, and... - [Resources](https://www.coloradoestatematters.com/resources/): Full Estate Planning Teaching Glossary Terms Glossary A to I Glossary J to Z Legal U. S. Courts West Westlaw... - [Thank you](https://www.coloradoestatematters.com/thank-you/): Thank you for emailing us. Someone will be in touch with you shortly. For urgent matters please contact us at... - [Disclaimer](https://www.coloradoestatematters.com/disclaimer/): The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult... - [Denver asset protection planning attorney](https://www.coloradoestatematters.com/denver-estate-planning-attorney/asset-protection/): Asset protection planning is an important step in the process of planning for the future of your loved ones. Regardless... - [Denver Guardianship and Conservatorship Attorney](https://www.coloradoestatematters.com/denver-guardianship-conservatorship-attorneys/): In this case, when a loved one is no longer able to care for themselves mentally and physically, do you... - [Denver Living Trust Attorney](https://www.coloradoestatematters.com/denver-living-trusts-attorney/): A living trust can be an important component of your estate planning. It may allow you to avoid probate and... - [Charitable Remainder Trust](https://www.coloradoestatematters.com/denver-living-trusts-attorney/charitable-remainder-trusts/): Charitable remainder trusts are estate planning tools that can be effective in reducing certain tax obligations while still providing the... - [Denver Life Insurance Trust Attorney](https://www.coloradoestatematters.com/denver-living-trusts-attorney/life-insurance-trusts/): Life insurance trusts are specific types of irrevocable trusts that can effectively reduce or eliminate future estate tax obligations. A... - [Denver Revocable Living Trusts Lawyers](https://www.coloradoestatematters.com/denver-living-trusts-attorney/revocable-living-trusts/): Revocable living trusts are powerful documents that allow people to discretely pass down property to beneficiaries without the hassle and... - [Denver living wills attorney](https://www.coloradoestatematters.com/denver-wills-attorney/living-wills/): Having a living will in place is important for your loved ones and for your own peace of mind. It... - [Denver Powers of Attorney](https://www.coloradoestatematters.com/denver-powers-of-attorney/): Powers of attorney are key components of any estate plan. These legal documents allow you to designate a trusted person... - [Denver Financial Power of Attorney](https://www.coloradoestatematters.com/denver-powers-of-attorney/durable-financial-poa/): A durable financial power of attorney is a legal document that gives someone the authority to oversee your finances. This... - [Denver Medical Durable Power of Attorney](https://www.coloradoestatematters.com/denver-powers-of-attorney/durable-medical-poa/): A medical durable power of attorney is a legal document that gives someone the authority to make important healthcare decisions.... - [Denver wills attorney](https://www.coloradoestatematters.com/denver-wills-attorney/): A will forms the foundation of estate planning for many people. If you do not yet have a will or... - [Denver Testamentary Trust Lawyer](https://www.coloradoestatematters.com/denver-living-trusts-attorney/testamentary-trusts/): A testamentary trust is a type of trust that takes effect after the trust maker or grantor passes away. These... - [Firm Overview](https://www.coloradoestatematters.com/firm-overview/): Welcome to Colorado Estate Matters – Your Partner in Planning and Peace of Mind At Colorado Estate Matters, we understand... - [Glossary A to I](https://www.coloradoestatematters.com/glossary-a-to-i/): A Teaching Glossary Prepared by Justin W. Blow § 2503(b) QUALIFYING MINOR’S TRUST: This variation of the 2503 Trust creates... - [Glossary J to Z](https://www.coloradoestatematters.com/glossary-j-to-z/): A Teaching Glossary Prepared by Justin W. Blow JOINT AND SURVIVOR ANNUITY: An annuity that is payable for two lives... - [Denver Post-Mortem Estate Planning](https://www.coloradoestatematters.com/post-mortem-jr-phillips/): Colorado Post-Mortem Law None of us like to think about mortality for ourselves or our loved ones. However, it is... - [Denver Elder Law Attorney](https://www.coloradoestatematters.com/denver-elder-law-attorney/): What is the Difference Between Elder Law and Estate Planning? Elder law focuses on guiding and counseling senior citizens with... - [Denver Probate Attorney](https://www.coloradoestatematters.com/denver-probate-lawyer/): Probate is a legal process in which a deceased person’s estate is distributed to beneficiaries or heirs and creditors are... - [Creditors and Probate](https://www.coloradoestatematters.com/denver-probate-lawyer/creditors/): One of the key elements of probate proceedings is dealing with a decedent’s creditors before distributing the assets of the... - [What is Probate?](https://www.coloradoestatematters.com/denver-probate-lawyer/what-is-probate/): What is probate? Probate refers to the legal process that occurs after a person has passed away. During probate, the... - [Denver Will and Trust Contests Attorney](https://www.coloradoestatematters.com/denver-trusts-will-contests-lawyer/): An estate plan is important to protect the welfare of your loved ones and ensure that you have a say... - [Denver breach of fiduciary duty lawyer](https://www.coloradoestatematters.com/denver-trusts-will-contests-lawyer/breach-fiduciary-duty/): Estate matters such as trusts, wills, and probate require a certain level of trust between the beneficiaries and those responsible... - [Denver fiduciary litigation attorney](https://www.coloradoestatematters.com/denver-trusts-will-contests-lawyer/claims-against-fiduciaries/): Colorado Estate Matters, Ltd. is a Denver-based law firm providing fiduciary litigation services for individuals and families on either side... - [Privacy Policy](https://www.coloradoestatematters.com/privacy-policy/): This privacy policy applies to information collected online from users of this website. In this policy, you can learn what... - [Justin W. Blow](https://www.coloradoestatematters.com/justin-w-blow/): Meet Owner Justin Blow Meet Justin W. Blow, the owner of Colorado Estate Matters, which he founded in January 2022.... - [Blog](https://www.coloradoestatematters.com/blog/) - [Practice Areas](https://www.coloradoestatematters.com/practice-areas/) - [Contact Us](https://www.coloradoestatematters.com/contact/) - [Home](https://www.coloradoestatematters.com/): --- ## Posts - [What is fair in a second marriage when it comes to estate planning?](https://www.coloradoestatematters.com/blog/what-is-fair-with-estate-planning-in-a-second-marriage/): Estate planning for a second marriage can be complex, especially when balancing obligations to children from a previous marriage, financial... - [What should I bring to my first estate planning meeting?](https://www.coloradoestatematters.com/blog/what-to-bring-to-your-first-estate-planning-meeting/): When preparing for your first estate planning meeting with an attorney in Colorado, being well-organized can help make the process... - [Do I Need an Attorney to Set Up Special Needs Trust?](https://www.coloradoestatematters.com/blog/do-i-need-an-attorney-to-set-up-special-needs-trust/): If you have a child or loved one with special needs, setting up a special needs trust can be crucial... - [Who Should Be My Trustee?](https://www.coloradoestatematters.com/blog/who-should-be-my-trustee/): The answer to this question is important to consider, as your choice of trustees can have significant impacts in the... - [This is how often you should update your estate plan](https://www.coloradoestatematters.com/blog/how-often-should-i-update-my-estate-plan/): Your estate plan is the crucial document set that dictates your wishes following your death. This set of documents should... - [Electronic Wills and Trusts in Colorado](https://www.coloradoestatematters.com/blog/electronic-wills-and-trusts-in-colorado/): The COVID-19 pandemic led to a lot of changes in court systems and estate planning around the country, largely due... - [Ten Mistakes to Avoid When Estate Planning](https://www.coloradoestatematters.com/blog/ten-most-common-denver-estate-planning-mistakes/): Planning your estate is an important undertaking, which is why you want to avoid making mistakes to prevent future hardships... - [Wills, Trusts & Dying Intestate: How They Differ](https://www.coloradoestatematters.com/blog/wills-trusts-dying-intestate-how-they-differ/): Most people understand that having some sort of an estate plan is a good thing. However, many of us do... - [Six Major Assets to Include in an Estate Plan](https://www.coloradoestatematters.com/blog/6-major-assets-to-include-in-an-estate-plan/): What Assets Should Be Included in an Estate Plan? The first thing that may need to be done is to... - [Planning for Your Baby’s Future in Estate Planning](https://www.coloradoestatematters.com/blog/planning-for-your-babys-future-in-estate-planning/): In all the chaos of buying new clothes, constantly changing diapers and seemingly sleepless nights for months on end, you... - [Estate Planning Tools for Your Baby’s College](https://www.coloradoestatematters.com/blog/estate-planning-tools-for-your-babys-college/): Remember when your baby was just an infant and you thought he/or she would break like dropped china or porcelain?... - [IRS Reveals 2017 Estate and Gift Tax Limits](https://www.coloradoestatematters.com/blog/irs-reveals-2017-estate-and-gift-tax-limits/): The Internal Revenue Service (IRS) has announced the federal estate and gift tax limits for 2017, based on inflation. IRS... - [Four Essential Documents to Prevent Estate Planning Errors](https://www.coloradoestatematters.com/blog/4-essential-documents-to-prevent-estate-planning-errors/): Four Essential Documents to Prevent Estate Planning Errors When you are ready to put an official estate plan in place... - [Do I Need an Ethical Will?](https://www.coloradoestatematters.com/blog/do-i-need-an-ethical-will/): Ethical Wills: What, Why & How? As opposed to a traditional will that bequeaths assets to loved ones, an ethical... - [Six Hidden Costs of Administering a Will](https://www.coloradoestatematters.com/blog/6-hidden-costs-of-administering-a-will/): Six Hidden Costs of Administering a Will When it is time to settle an estate and administer a will, there... - [How Does Estate Planning Work?](https://www.coloradoestatematters.com/blog/how-does-estate-planning-work/): How does estate planning work? Estate planning is essentially the process of detailing your future wishes for yourself, your estate... - [When Should I Start Estate Planning?](https://www.coloradoestatematters.com/blog/when-should-i-start-estate-planning/): Why it is important for all adults to start estate planning sooner, rather than later? The sooner you start the... - [Trusts & Taxes: FAQs about Tax Obligations for Trusts & Trustees](https://www.coloradoestatematters.com/blog/trusts-taxes-faqs-about-tax-obligations-for-trusts-trustees/): Trusts & Taxes: FAQs Taxation for trusts can be complicated, as there are special rules in place for filing and... - [Can I Include My Pet(s) in My Estate Plan?](https://www.coloradoestatematters.com/blog/can-i-include-my-pets-in-my-estate-plan/): Pets can be wonderful companions and may even be considered to be members of the family for some people. Although... - [Colorado Probate 101: What are “Small” Estates?](https://www.coloradoestatematters.com/blog/colorado-probate-101-what-are-small-estates/): How Colorado laws define small estates? Small estates, according to Colorado law, are estates that are not exclusive to real... - [How Do Colorado Laws Limit My Choice for Executors?](https://www.coloradoestatematters.com/blog/how-do-colorado-laws-limit-my-choice-for-executors/): How Does Colorado Laws Limit the Choice for Executors? Part of developing an estate plan will involve naming an executor... - [Estate Planning 101: Four Tips for Maintaining, Organizing & Storing Your Estate Plan](https://www.coloradoestatematters.com/blog/estate-planning-101-4-tips-for-maintaining-organizing-storing-your-estate-plan/): Four Tips for Maintaining, Organizing & Storing Your Estate Plan Having a comprehensive estate plan is important to protecting your... - [Essential Checklist for Estate Executors](https://www.coloradoestatematters.com/blog/essential-checklist-for-estate-executors/): Essential Checklist for Estate Executors The death of a loved one can be a great loss. For those who are... - [Four Essential Estate Planning Tips for Those Under 35](https://www.coloradoestatematters.com/blog/4-essential-estate-planning-tips-for-those-under-35/): Four Important estate planning tips for people under 35 Getting your finances in order can be essential to being prepared... - [How to Start Estate Planning: Seven Steps](https://www.coloradoestatematters.com/blog/how-to-start-estate-planning-7-steps/): How to Start Estate Planning? Estate planning can be the key to preserving your legacy and protecting your loved ones... - [Three Reasons to Be Weary of Online DIY Trusts](https://www.coloradoestatematters.com/blog/3-reasons-to-be-weary-of-online-diy-trusts/): The risks of doing online DIY trusts could make it difficult once you pass if it is not done by... - [How to Choose an Executor or Personal Representative for an Estate?](https://www.coloradoestatematters.com/blog/how-to-choose-an-executor-or-personal-representative-for-an-estate/): How to Choose an Executor or Personal Representative for an Estate? A central part of estate planning can be selecting... - [Agents under Powers of Attorney: Four Important Facts to Know](https://www.coloradoestatematters.com/blog/agents-under-powers-of-attorney-4-important-facts-to-know/): Four Important Facts for Agents under Powers of Attorney Agents, also referred to as attorneys-in-fact, have some important responsibilities and... - [Four Reasons to Resolve to Develop an Estate Plan](https://www.coloradoestatematters.com/blog/4-reasons-to-resolve-to-develop-an-estate-plan-in-2016/): Four Reasons to Resolve to Develop an Estate Plan The New Year is a time for resolutions. For many people,... - [Survivors’ Checklist: Six Immediate Steps to Take after a Death](https://www.coloradoestatematters.com/blog/survivors-checklist-6-immediate-steps-to-take-after-a-death/): The death of a loved one can turn your world upside down. While grief can be overwhelming, if one person... - [How Does Portability Affect Estate Taxes?](https://www.coloradoestatematters.com/blog/how-does-portability-affect-estate-taxes/): A Denver estate planning lawyer discusses how portability for federal estate taxes can help reduce tax obligations. Since 2011 in... - [How Often Should I Update My Will?](https://www.coloradoestatematters.com/blog/how-often-should-i-update-my-will/): A Denver estate planning attorney explains when wills and estate plans should be updated. It depends on the nature of... - [Four Estate Planning Mistakes that Can Cost Your Loved Ones Later](https://www.coloradoestatematters.com/blog/4-estate-planning-mistakes-that-can-cost-your-loved-ones-later/): The right estate plan can preserve your wishes for the future while protecting your loved ones’ interests and possibly even... - [Four Myths about Colorado Probate Dispelled](https://www.coloradoestatematters.com/blog/4-myths-about-colorado-probate-dispelled/): Don’t believe these myths about Colorado probate, a Denver probate attorney explains. Get the facts so you know how to... - [Five Warning Signs of Breach of Fiduciary Duties](https://www.coloradoestatematters.com/blog/5-warning-signs-of-breach-of-fiduciary-duties/): “Know the warning signs of breach of fiduciary duty so you know when to take action & hold negligent fiduciaries... - [How to Select an Estate Planning Lawyer: Four Things to Look For](https://www.coloradoestatematters.com/blog/how-to-select-an-estate-planning-lawyer-4-things-to-look-for/): When you want to choose the right and best Denver estate planning lawyer to help you put an effective estate... - [Four Estate Planning Basics: What Everyone Should Know When Developing an Estate Plan](https://www.coloradoestatematters.com/blog/4-estate-planning-basics-what-everyone-should-know-when-developing-an-estate-plan/): Estate planning is not just about figuring out what will happen to your assets after you pass. It is also... - [Four Helpful Tips for Executors & Personal Representatives Who Are Settling an Estate](https://www.coloradoestatematters.com/blog/4-helpful-tips-for-executors-personal-representatives-who-are-settling-an-estate/): The process of settling an estate can be long, complicated and at times, contentious. While there can be a lot... - [Pros & Cons of Living Trusts: What You Should Know?](https://www.coloradoestatematters.com/blog/pros-cons-of-living-trusts-what-you-should-know/): Living trusts can be powerful estate planning tools that can offer a lot of benefits to trustmakers (or grantors), as... - [Your Go-To Estate Planning Glossary: Key Estate Planning Terms Defined](https://www.coloradoestatematters.com/blog/your-go-to-estate-planning-glossary-key-estate-planning-terms-defined/): Estate planning and probate can be involved processes. For those who are just getting started with either of them, knowing... - [Four Costly Probate Mistakes to Avoid](https://www.coloradoestatematters.com/blog/4-costly-probate-mistakes-to-avoid/): Although probate can be a lengthy, involved process, making mistakes during it can end up complicating it further, potentially increasing... - [What is the probate process in Colorado?](https://www.coloradoestatematters.com/blog/an-overview-of-the-colorado-probate-process/): This is the only guide you need to navigate Colorado probate Many estates must navigate the Colorado probate waters after... - [Living Trust FAQs](https://www.coloradoestatematters.com/blog/living-trust-faqs/): Living trusts can be an important part of some estate plans, especially for people who have special needs children who... - [Your Essential Estate Planning Checklist](https://www.coloradoestatematters.com/blog/your-essential-estate-planning-checklist/): When you’re ready to put an estate plan in place, knowing where to start and what you need to do... - [Four Things a Will Can NOT Do](https://www.coloradoestatematters.com/blog/4-things-a-will-can-not-do/): Wills can be very powerful estate planning documents that can set terms for powers of attorney, asset distribution and even... - [What Happens If I Die without a Will?](https://www.coloradoestatematters.com/blog/what-happens-if-i-die-without-a-will/): Having a will in place can protect you and your family in the event of a catastrophic injury, incapacitation or... - [Five Tips for Agents of Financial Powers of Attorney](https://www.coloradoestatematters.com/blog/5-tips-for-agents-of-financial-powers-of-attorney/): Agents or “attorneys in fact” are people who have been designated by another individual (i. e. , the principal) via... - [Where Should I Keep My Will?](https://www.coloradoestatematters.com/blog/where-should-i-keep-my-will/): After creating a will, one of the next important decisions you will make is where to store that will. The... - [Joint Tenancy & Probate FAQs (Pt. 3)](https://www.coloradoestatematters.com/blog/joint-tenancy-probate-faqs-pt-3/): Here’s the conclusion to our blog series Joint Tenancy & Probate FAQs. Joint Tenancy & Probate: More Important Info Below... - [Joint Tenancy & Probate FAQs (Pt. 1)](https://www.coloradoestatematters.com/blog/joint-tenancy-probate-faqs-pt-1/): Joint tenancy can provide people with a way of transferring real or personal property to surviving loved ones after passing... - [How to Create an Inventory of Assets for Colorado Probate: Eight Steps (Pt. 2)](https://www.coloradoestatematters.com/blog/how-to-create-an-inventory-of-assets-for-colorado-probate-8-steps-pt-2/): Resuming How to Create an Inventory of Assets for Colorado Probate: Eight Steps (Pt. 1), we will point out the... - [Five Main Types of Advance Medical Directives: An Overview (Pt. 3)](https://www.coloradoestatematters.com/blog/5-main-types-of-advance-medical-directives-an-overview-pt-3/): Here’s the conclusion to our blog series Five Main Types of Advance Medical Directives: An Overview. Final Type of Advance... - [Five Main Types of Advance Medical Directives: An Overview (Pt. 1)](https://www.coloradoestatematters.com/blog/5-main-types-of-advance-medical-directives-an-overview-pt-1/): While every adult in the U. S. is entitled to refuse or consent to medical care, knowing what a specific... - [Colorado Wills: Seven Facts You Should Know (Pt. 2)](https://www.coloradoestatematters.com/blog/colorado-wills-7-facts-you-should-know-pt-2/): Resuming Colorado Wills: Seven Facts You Should Know (Pt. 1), here we will continue highlighting some essential information to know... - [Powers of Attorney FAQs (Pt. 3)](https://www.coloradoestatematters.com/blog/powers-of-attorney-faqs-pt-3/): Wrapping up our blog series Powers of Attorney FAQs, below are some more answers about this essential aspect of estate... - [Powers of Attorney FAQs (Pt. 1)](https://www.coloradoestatematters.com/blog/powers-of-attorney-faqs-pt-1/): Powers of attorney can be effective and necessary estate planning tools, as they protect people in the event of incapacitation... - [What to Do after Someone Dies: 10 Steps to Take after a Death (Pt. 2)](https://www.coloradoestatematters.com/blog/what-to-do-after-someone-dies-10-steps-to-take-after-a-death-pt-2/): Picking up from What to Do after Someone Dies: 10 Steps to Take after a Death (Pt. 1), we will... - [Estate Planning for Your Special Needs Child: Here’s What You Should Know (Pt. 3)](https://www.coloradoestatematters.com/blog/estate-planning-for-your-special-needs-child-heres-what-you-should-know-pt-3/): Concluding our blog series Estate Planning for Your Special Needs Child: Here’s What You Should Know, below we will take... - [Estate Planning for Your Special Needs Child: Here’s What You Should Know (Pt. 1)](https://www.coloradoestatematters.com/blog/estate-planning-for-your-special-needs-child-heres-what-you-should-know-pt-1/): While estate planning for you and your family is always important, it can be especially critical if you have children... - [Guardianships and Conservatorships: FAQs (Pt. 2)](https://www.coloradoestatematters.com/blog/guardianships-and-conservatorships-faqs-pt-2/): Picking up from where Guardianships and Conservatorships: FAQs (Pt. 1) left off we will answer some more commonly asked questions... - [Six Tips for Personal Representatives Administering Estates (Pt. 3)](https://www.coloradoestatematters.com/blog/6-tips-for-personal-representatives-administering-estates-pt-3/): Ending our three-part blog series Six Tips for Personal Representatives Administering Estates, we will point out some final helpful tips... - [Six Tips for Personal Representatives Administering Estates (Pt. 1)](https://www.coloradoestatematters.com/blog/6-tips-for-personal-representatives-administering-estates-pt-1/): When a loved one passes away, you may be put in the position of being a personal representative for that... - [Probate in Colorado: FAQs (Pt. 2)](https://www.coloradoestatematters.com/blog/probate-in-colorado-faqs-pt-2/): Picking up from where Probate in Colorado: FAQs (Pt. 1) left off, we will continue to respond to some commonly... - [Your Trustee Duties: Here Is What You Need to Know (Pt. 3)](https://www.coloradoestatematters.com/blog/your-trustee-duties-heres-what-you-need-to-know-pt-3/): Wrapping up our three-part blog series, Your Trustee Duties: Here’s What You Need to Know, below, we will point out... - [Your Trustee Duties: Here Is What You Need to Know (Pt. 1)](https://www.coloradoestatematters.com/blog/your-trustee-duties-heres-what-you-need-to-know-pt-1/): Being a trustee is a big responsibility that comes with both ethical and administrative obligations. Although you do not have... - [FAQs about Drafting Wills (Pt. 2)](https://www.coloradoestatematters.com/blog/faqs-about-drafting-wills-pt-2/): Continuing from where FAQs about Drafting Wills (Pt. 1) left off, here are some more insightful responses to questions about... - [The Three Types of Probate in Colorado: An Overview (Pt. 2)](https://www.coloradoestatematters.com/blog/the-3-types-of-probate-in-colorado-an-overview-pt-2/): Resuming The 3 Types of Probate in Colorado: An Overview (Pt. 1), below we will continue our discussion regarding the... - [Setting up a Living Trust: Six Facts to Know (Pt. 3)](https://www.coloradoestatematters.com/blog/setting-up-a-living-trust-6-facts-to-know-pt-3/): Concluding our blog series Setting up a Living Trust: 6 Facts to Know, below we will point out some final... - [Setting up a Living Trust: Six Facts to Know (Pt. 1)](https://www.coloradoestatematters.com/blog/setting-up-a-living-trust-6-facts-to-know-pt-1/): When it comes time to plan for your family’s future, setting up a living trust can be an effective way... - [Top Seven Reasons to Create a Will (Pt. 2)](https://www.coloradoestatematters.com/blog/top-7-reasons-to-create-a-will-pt-2/): Picking up from where Top 7 Reasons to Create a Will (Pt. 1) left off, below we will continue pointing... - [Dealing with Creditors in Probate: FAQs (Pt. 3)](https://www.coloradoestatematters.com/blog/dealing-with-creditors-in-probate-faqs-pt-3/): Wrapping up our blog series Dealing with Creditors in Probate: FAQs, below we will answer some final questions regarding creditors... - [Dealing with Creditors in Probate: FAQs (Pt. 1)](https://www.coloradoestatematters.com/blog/dealing-with-creditors-in-probate-faqs-pt-1/): While probate is generally known to be a time-consuming and complicated process, one of the particularly challenging aspects of this... - [Probate in Colorado: Six Facts to Know (Pt. 2)](https://www.coloradoestatematters.com/blog/probate-in-colorado-6-facts-to-know-pt-2/): Picking up from where we left off in Probate in Colorado: 6 Facts to Know (Pt. 1), below we will... - [Grounds for Contesting a Will (Pt. 2)](https://www.coloradoestatematters.com/blog/grounds-for-contesting-a-will-pt-2/): Picking up from where Grounds for Contesting a Will (Pt. 1) left off, below, we continue our discussion regarding how... - [Eight Different Types of Trusts: An Overview (Pt. 3)](https://www.coloradoestatematters.com/blog/8-different-types-of-trusts-an-overview-pt-3/): Here is the conclusion to our three-part blog 8 Different Types of Trusts: An Overview. Additional Types of Trusts that... - [Eight Different Types of Trusts: An Overview (Pt. 1)](https://www.coloradoestatematters.com/blog/8-different-types-of-trusts-an-overview-pt-1/): When planning for the future, people can develop various types of trusts, depending on their wishes and needs. Here is... - [FAQs about Executors and Wills (Pt. 2)](https://www.coloradoestatematters.com/blog/faqs-about-executors-and-wills-pt-2/): Below are some more answers to frequently asked questions about the role of executors when it comes to the administration... - [Six Mistakes to Avoid When Developing a Power of Attorney (Pt. 3)](https://www.coloradoestatematters.com/blog/6-mistakes-to-avoid-when-developing-a-power-of-attorney-pt-3/): Here is the conclusion to our three-part blog 6 Mistakes to Avoid When Developing a Power of Attorney. Power of... - [Six Mistakes to Avoid When Developing a Power of Attorney (Pt. 1)](https://www.coloradoestatematters.com/blog/6-mistakes-to-avoid-when-developing-a-power-of-attorney-pt-1/): Powers of attorney are essential components of any comprehensive estate plan, as they provide specific plans for what should be... - [Estate Planning Documents That Many Can Use](https://www.coloradoestatematters.com/blog/estate-planning-documents-that-many-can-use/): Colorado individuals may exercise more control over their assets and other arrangements when they take a proactive step by establishing... - [Leaving The Colorado Family Fortune Well-Attended](https://www.coloradoestatematters.com/blog/leaving-the-colorado-family-fortune-well-attended/): As wealth increases for families in Colorado, caring for loved ones becomes an inevitable concern when it comes to passing... - [Estate Planning Critical for Passing Assets to Loved Ones](https://www.coloradoestatematters.com/blog/estate-planning-critical-for-passing-assets-to-loved-ones/): Residents of Colorado can arrange for the distribution of their assets after death by taking a few critical estate planning... - [Important Aspects of Estate Planning to Keep in Mind](https://www.coloradoestatematters.com/blog/important-aspects-of-estate-planning-to-keep-in-mind/): Colorado residents who are contemplating an estate plan may be interested in an article on CNBC that examines some key... - [Common Mistakes Made in Wills](https://www.coloradoestatematters.com/blog/common-mistakes-made-in-wills/): When creating an estate plan in Colorado, creating a will is usually one of the first things to be done.... - [Planning Tips from Paul Walker’s Estate](https://www.coloradoestatematters.com/blog/planning-tips-from-paul-walkers-estate/): Entertainment fans in Colorado were surprised when movie star Paul Walker was killed in a car accident on Nov. 30,... - [Estate Planning Concern Over Tax Penalties Eased by Portability](https://www.coloradoestatematters.com/blog/estate-planning-concern-over-tax-penalties-eased-by-portability/): Many families in Colorado may not fall into the mega-rich category of the 1 percent. However, it is not just... - [Veterans Benefits Can Help with Long Term Care Costs](https://www.coloradoestatematters.com/blog/veterans-benefits-can-help-with-long-term-care-costs/): Many veterans are eligible for VA pensions to help pay for assisted living, nursing homes, and home care. There are... - [Leaving Money to Disabled Individuals](https://www.coloradoestatematters.com/blog/leaving-money-to-disabled-individuals/): If someone living in Colorado has a family member with special needs or a disability, they may want to leave... - [2014 Goals and Estate Planning](https://www.coloradoestatematters.com/blog/2014-goals-and-estate-planning/): 2014 is here and many people are setting their goals, resolutions and to do lists for the year. For some... - [Keeping Estate Planning Current](https://www.coloradoestatematters.com/blog/keeping-estate-planning-current/): Wills are not the only estate planning documents used in Colorado that provide for a transfer of assets after the... - [Updating Estate Planning Documents After a Divorce](https://www.coloradoestatematters.com/blog/updating-estate-planning-documents-after-a-divorce/): Once a divorce is final, both parties are likely to want to move along and think about things other than... - [The Estate Planning Puzzle](https://www.coloradoestatematters.com/blog/the-estate-planning-puzzle/): Think of your Estate Planning like a puzzle. Some of us have 100 piece puzzles and others have the 5,000... - [Michael Jackson Estate Sued](https://www.coloradoestatematters.com/blog/jackson-estate-sued/): Colorado residents may have heard that Quincy Jones is filing a lawsuit against the estate of the late Michael Jackson.... - [This is the best financial advice for 50-year-olds you should know](https://www.coloradoestatematters.com/blog/middle-age-financial-mistakes-that-keep-seniors-from-aging-well/): In Colorado and throughout the nation, those in their 50s feel younger and more vibrant than they did a few... - [Spendthrift Trusts and Asset Protection](https://www.coloradoestatematters.com/blog/spendthrift-trusts-and-asset-protection/): While trusts are commonly regarded in Colorado and elsewhere as estate planning tools, they can also be useful as a... - [Estate Planning Should Be Done Early](https://www.coloradoestatematters.com/blog/estate-planning-should-be-done-early/): Estate planning is often associated with retirement, but getting affairs in order earlier in life can ensure that an individual... - [Certain Documents Should Accompany Every Estate Plan](https://www.coloradoestatematters.com/blog/certain-documents-should-accompany-every-estate-plan/): Planning for one’s death is never pleasant; however, as many Colorado residents may already know, it is often a fact... - [Make Sure Beneficiary Designations Are Current](https://www.coloradoestatematters.com/blog/make-sure-beneficiary-designations-are-current/): Beneficiary designations play a big role in determining the disposition of assets upon a Denver resident’s death. Typically, these beneficiaries... - [How to help aging parents financially](https://www.coloradoestatematters.com/blog/approaching-aging-parents-about-financial-matters/): Navigating financial discussions with your aging parents doesn’t have to be daunting. At Colorado Estate Matters, we’re here to guide... - [Include Provisions for Aging in Estate Planning](https://www.coloradoestatematters.com/blog/include-provisions-for-aging-in-estate-planning/): People in Colorado who are engaged in their estate planning might want to include provisions denoting how they want their... - [Fastidiousness is Key To Writing a Will in Colorado](https://www.coloradoestatematters.com/blog/fastidiousness-is-key-to-writing-a-will-in-colorado/): Some Colorado residents may believe that writing a will is as simple as noting their wishes on a sheet of... --- ## Faqs - [What are the essential documents for estate planning?](https://www.coloradoestatematters.com/faqs/what-are-the-essentil-documents-for-estate-planning/): In Colorado, a comprehensive estate plan encompasses more than just drafting a will; it involves creating documents tailored to protect... - [What is a probate bond?](https://www.coloradoestatematters.com/faqs/what-is-a-probate-bond/): Probate bonds are legal protection afforded to the estate’s beneficiaries, heirs, and creditors, offering financial security from a breach of... - [What happens to your online accounts when you die?](https://www.coloradoestatematters.com/faqs/what-happens-to-your-online-accounts-when-you-die/): These days, every move we make has a digital component. Our bank accounts and bills are online. We put our... - [Assets and Medicaid planning: How can I ensure a smooth transition?](https://www.coloradoestatematters.com/faqs/assets-and-medicaid-planning/): When planning to receive Medicaid benefits, it’s critical to have a Medicaid asset protection plan in place to ensure you’ll... - [What are the steps in the probate process?](https://www.coloradoestatematters.com/faqs/what-are-the-steps-in-the-probate-process/): When a person passes away, their personal representative is held responsible for administering their probate estate. To open and administer... --- # # Detailed Content ## Pages - Published: 2025-02-18 - Modified: 2025-09-16 - URL: https://www.coloradoestatematters.com/lakewood-estate-planning-attorney/ Many assume only the wealthy need estate planning, but if you have specific wishes for asset distribution, minor children, or concerns about retirement and long-term care, an estate plan is essential. Beyond asset distribution, estate planning can designate guardians, protect loved ones with special needs, outline your health care and financial preferences, and provide financial security for retirement. A Lakewood estate planning attorney can assess your financial situation and offer strategies to safeguard your future and support your goals. Protect yourself and your family today. Contact Colorado Estate Matters at (303) 713-9147 for a personalized consultation. The Lakewood community trusts us to provide sound advice When you create an estate plan, choose an estate planning firm you can trust. Colorado Estate Matters works with families like yours across the Denver metro area and the state, getting to know you, what’s most important to you, and where you want to go. We’re a local, tight-knit team of attorneys focusing on estate planning in Lakewood, CO. We’re from the Denver area and have spent our careers creating the right estate plan for each client. Our exclusive focus on estate planning, probate, trust administration, and probate and trust litigation sets us apart from other jack-of-all-trades firms. This, combined with decades of experience drafting estate plans, guiding clients through probate, and litigating challenges, uniquely qualifies our firm. As a local law firm, we’re your friends and neighbors. We care about you, your family, and your future. Contact us at (303) 713-9147 to get started.... --- - Published: 2025-02-18 - Modified: 2025-02-18 - URL: https://www.coloradoestatematters.com/lakewood-probate-attorney/ Navigating the probate process can be overwhelming, especially during a time of grief and emotional distress. Whether you are handling a loved one’s estate or need assistance with a will, trust, or guardianship issue, having an experienced Lakewood probate attorney by your side is essential. At Colorado Estate Matters, Ltd. , our team of dedicated professionals is here to guide you through every step of the probate process with compassion, integrity, and legal knowledge. We understand that probate law can be complex and filled with emotional, financial, and legal challenges. Our firm provides trusted legal counsel for individuals and families throughout Lakewood and the surrounding areas. If you are facing probate issues, we offer the support and guidance you need to protect your interests and navigate the process as smoothly as possible. Colorado Estate Matters guides clients through life’s more important decisions Probate is the legal process of administering and distributing a deceased person’s estate, including validating a will, paying debts and taxes, and distributing remaining assets to beneficiaries. While probate can be straightforward, disputes, large estates, or complex assets can complicate the process. In Colorado, probate is governed by state law, which outlines procedures for estate distribution. Understanding these rules is key to ensuring a smooth process and honoring the deceased’s wishes. Colorado Estate Matters provides compassionate, strategic legal support for probate and estate planning. Our local expertise and personalized approach ensure effective solutions tailored to Colorado’s unique laws and community needs. Your legal rights as a decedent’s beneficiary,... --- - Published: 2024-11-19 - Modified: 2024-11-19 - URL: https://www.coloradoestatematters.com/maria-c-boggs/ Meet Attorney Maria Boggs Originally from Ohio, I relocated to Colorado to pursue my Juris Doctorate at the University of Colorado. There, I was selected as a peer teacher for legal writing classes and coached a high school mock trial team through the Marshall Brennan Constitutional Literacy Program. Prior to law school, I earned my bachelor’s degree in business administration from Hofstra University, where I double majored in Business Management and Legal Studies in Business. Since becoming an attorney, I’ve developed a strong passion for probate law, dedicated to helping clients navigate the complexities that arise after losing a loved one. I recognize that the probate process can be overwhelming, and I’m dedicated to easing that burden. My professional background includes a strong foundation in trial advocacy and motions practice with experience in the family law sector prior to my role as a probate attorney at Colorado Estate Matters, Ltd. Here, I specialize in probate litigation and administration, trust actions, guardianships, and conservatorships. Outside of work, I enjoy hiking, game nights, and regular dinners at Chilis with family and friends. Call Colorado Estate Matters, Ltd. for a Free Consultation Call our Colorado and Colorado estate planning attorney at (303) 713-9147 or fill out the contact form on this website to schedule a no-cost, no-obligation consultation. --- - Published: 2024-06-25 - Modified: 2024-06-25 - URL: https://www.coloradoestatematters.com/wheat-ridge-probate-attorney/ When someone dies in Colorado, their estate must pass through the probate process to legally transfer assets to their recipients. Whether you are a beneficiary or bear the responsibilities of a personal representative, Colorado Estate Matters can provide sound advice regarding your rights and legal options, answer your questions, prepare legal documentation, and represent you in court. You can depend on us to manage your estate matters with integrity and precision and to take your case through the process as efficiently as possible. Our Wheat Ridge attorneys are committed to providing personalized attention and the highest-quality legal representation. When you partner with us, you put your case in capable, caring hands. Contact us online or call (303) 713-9147 to schedule your free consultation. Colorado Estate Matters is the leading probate law firm in Wheat Ridge Colorado Estate Matters has made it our mission to provide clients with peace of mind, clarity, and the assurance that they’re making the best choices for themselves and their loved ones. We’re not just legal partners; we’re confidants and advocates, committed to ensuring our clients’ futures are well taken care of. Estate laws and legal proceedings are complicated. It is easy to make mistakes, omit important details, or misunderstand estate and intestacy laws. Family conflicts or old resentments can rear up, creating even more turbulence in settling the estate. Your attorney with Colorado Estate Matters is your advocate throughout the probate process, protecting you from costly legal errors or unjust treatment. We help you protect... --- - Published: 2023-08-30 - Modified: 2024-11-19 - URL: https://www.coloradoestatematters.com/lexus-bohan/ Meet Litigation Paralegal Lexus Bohan Born and raised in the Green Bay area of Wisconsin, I grew up with a large extended family. I’m so grateful for their strong foundation and for the opportunities they’ve given me. I'm excited to see what the future holds, whether that entails focusing on estate planning, becoming a senior paralegal, or exploring new paths. In my free time, I love exploring nature through snowboarding, hiking, camping, visiting national parks, and scuba diving. As an avid traveler, my favorite destinations have been Belize and Curacao, and I plan to visit Europe in the next year or two. I’m also a foodie at heart, and as a result, I am always on the lookout for new restaurants in Denver and beyond. My family and community are incredibly important to me. I believe in giving back by helping others navigate difficult times like probate or by simply providing a supportive presence. I’m confident that I can achieve my goals and make a positive impact on the world. Call Colorado Estate Matters, Ltd. for a Free Consultation Call our Colorado and Colorado estate planning attorney at (303) 713-9147 or fill out the contact form on this website to schedule a no-cost, no-obligation consultation. --- - Published: 2023-08-30 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/denise-husa/ Meet Senior Paralegal Denise Husa While I was born in New York, I have lived in Colorado since I was a child and am proud to call Colorado my home. I have been working as a paralegal for over 15 years and appreciate that my career provides me with the ability to help people. I know how important family and other loved ones are and how crucial it is to protect them and your legacy to them. Luckily, I find my career extremely rewarding, since when you consider today’s economy and my future travel habit (see below ), I will almost certainly never retire. I consider myself very fortunate to be a part of this phenomenal firm, which is not only the best second family I could have ever imagined, but that also values work life balance, and promotes time with our primary families. It affords me the ability to cheer my daughter on at all of her sporting events. In my free time, I love nothing more than to relax with my daughter or enjoy one of the many hiking trails that Colorado has to offer. I hope to do more traveling outside of Colorado later in life when my little sidekick is old enough to fly solo. Call Colorado Estate Matters, Ltd. for a Free Consultation Call our Colorado and Colorado estate planning attorney at (303) 713-9147 or fill out the contact form on this website to schedule a no-cost, no-obligation consultation. --- - Published: 2023-08-01 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/trusted-professionals/ Our trusted professionals We want to ensure that our clients receive high-quality service—even outside legal needs. Colorado Estate Matters, Ltd. stands by these reputable businesses for their expertise and dedication to their profession. Accountants AIan Boxer & Rick Boxer, CPAs Boxer & Associates, CPAs303-221-5959www. boxercpa. com8400 East Prentice Ave. ,Suite 605,Greenwood Village, CO 80111 Services: Bookkeeping, Financial Statements, Payroll, Tax Preparation, Tax Planning Ryan Peterson Pathlight Tax & Consulting303-825-1000www. pathlighttax. com3131 S Vaughn Way,Suite 652,Aurora, CO 80014 Services: Tax Filing, Tax Planning, Bookkeeping, Payroll, IRS Representation, Estate, Gift, and Trust Returns Realty Motenia Rose-Deaver Broker Associate/RE/MAX Professionals,Senior Real Estate Specialist303-810-7870MRDteam@hotmail. comMovingWithMoe. com143 Union Blvd. Suite 120Lakewood, CO 80228Real Estate Broker for 30+ years experience throughout metro Denver and all surrounding areas. Specializing in Estate Sales and Relocation. Helping you stage and prepare your home to maximize the equity, while keeping in mind the emotional component. Financial Planning Financial Planning Trusted Professional (303) 713-9147michele@coloradoestatematters. comCertified Financial Planner located within our building. Services include investment, protection and distribution of wealth. Specialties include retirement income planning, inheritance, divorce/separation agreements and income tax planning. Please call our office for contact information. Bridget Summers Financial Advisor, ThriventOffice: 720-821-5822Bridget. Summers@thrivent. comwww. connect. thrivent. com/bridget-summersMy goal is to bring clarity and understanding to my clients’ financial picture and to help them meet their goals. Services: Banking, investments, insurance, financial planning, and charitable giving --- - Published: 2021-12-01 - Modified: 2022-04-07 - URL: https://www.coloradoestatematters.com/denver-trusts-will-contests-lawyer/denver-trust-litigation-lawyer/ When a loved one passes away and trusts go into effect, disputes may quickly arise among the beneficiaries or between the beneficiaries and the trustees (fiduciaries) overseeing the trusts. In many cases, such trust disputes can be as contentious as they are costly and destructive, and working through them to obtain an appropriate resolution will be essential to preserving the assets of the trust, as well as the relationships between beneficiaries and fiduciaries. If you are involved in any type of trust dispute that may require litigation, contact the Denver trust litigation lawyers at Colorado Estate Matters, Ltd. , for a free initial consultation. We can assist you with even the most complicated types of cases using comprehensive, compassionate and personalized legal services. Why Choose Us? At Colorado Estate Matters, Ltd. , our Denver trust litigation attorneys are experienced at representing both beneficiaries and fiduciaries embroiled in trust disputes. We have decades of experience in the trust litigation practice area. We can use both traditional and innovative solutions to achieve the best possible result for your trust dispute or matter. While we are focused on advocating our clients’ interests, minimizing their costs and helping them resolve their disputes outside of court, we are always ready to represent them in court when trust litigation is necessary to achieve the best possible outcomes to their trust disputes. If you need legal guidance, call our Denver estate planning attorneys at (303) 713-9147 for a free initial consultation. Denver Trust Litigation Resources & FAQs... --- - Published: 2021-12-01 - Modified: 2024-07-22 - URL: https://www.coloradoestatematters.com/centennial-guardianship-conservatorship-attorneys/ When you have a loved one who is unable to properly care or make decisions for themselves where they once used to, it can be a difficult time for you and your family. You may be unsure of what steps you should take to protect them and help them regain their dignity. Guardianships and conservatorships can be excellent tools to help families like yours. But obtaining a guardianship or conservatorship order in Colorado can be a complicated process, and you may not be sure what to expect. With help from a dedicated Centennial guardianship and conservatorship lawyer at Colorado Estate Matters, Ltd. , you can prepare your case and take the necessary action to protect your loved one. Why Colorado Estate Matters? During this challenging time in your life, you need a strong legal advocate by your side who can guide you through the process and ensure you have a clear understanding of what to expect should you obtain your guardianship or conservatorship order. Here is why Colorado Estate Matters is the right firm for you: We are offering the ability to schedule virtual appointments upon request Our line of communication is prompt and reliable Your initial consultation is always free We take a client-led approach to our cases Our attorneys genuinely want what’s best for our clients and their families What is the Difference Between Guardianship and Conservatorship? When you have a relative or family member who is unable to make decisions for themselves, whether that be medical decisions,... --- - Published: 2021-11-22 - Modified: 2024-03-29 - URL: https://www.coloradoestatematters.com/denver-living-trusts-attorney/special-needs-trusts/ Persons with special needs or disabilities often require additional care and financial support, but public benefits and insurance have strict eligibility requirements and often don't cover all of their costs. That's why supplemental or special needs trusts exist — they help provide an extra layer of financial security for individuals with disabilities, allowing them to enjoy a better quality of life. At Colorado Estate Matters, Ltd. , we help our clients find invaluable peace of mind with our special needs trust services. When you choose us, you can rest assured that we'll take the time to understand your unique situation and create a trust tailored to meet your specific needs and wishes. Call (303) 713-9147 to schedule a free consultation with an experienced Denver special needs trust attorney today. What is a special needs trust? To understand what a special needs trust is, it helps to first understand the concept of trusts. A trust is an agreement between two or more parties where one party (the trustee) holds and manages assets for the benefit of another party (the beneficiary). The trust maintains legal ownership of the assets, but the beneficiary is entitled to use the assets according to the terms of the trust. A special needs trust is a trust that's specifically designed to benefit individuals with disabilities, allowing them to access additional financial resources without losing eligibility for government benefits such as Medicaid and Supplemental Security Income (SSI). Although these are often created by the beneficiary’s family members, they... --- - Published: 2021-11-17 - Modified: 2024-07-22 - URL: https://www.coloradoestatematters.com/arvada-estate-planning-lawyer/ Whether you are just starting off in the adult world or have been around the block a time or two before, it is important to get your affairs in order. But estate planning involves far more than simply drawing up a legal document that explains who you want to pass your assets down to when you pass away. If you hope to protect yourself, your family, and your future, work with an experienced Arvada estate planning attorney from Colorado Estate Matters, Ltd. Schedule your free consultation by calling our office at (303) 713-9147. How an Arvada estate attorney in CO can help Selecting the right estate planning attorney for you is never easy. But here are some of the benefits of choosing Colorado Estate Matters, Ltd. : Our consultations are always free We can discuss your case virtually Our firm offers more than 20+ years of experience Custom estate planning options Transparent communication We take a client-led approach to estate planning Who can benefit the most from a solid estate plan? Estate planning, which encompasses managing and distributing all assets you own. Everyone must guarantee their wishes are followed upon incapacitation or passing. Regardless of the size of these assets, drafting a suitable plan with the assistance of an Arvada estate planning attorney can offer significant benefits. Parents of minor children or children with special needs Parents with minor children or children with special needs require a thorough estate plan to ensure their children's needs are met when they are... --- - Published: 2021-11-17 - Modified: 2024-07-22 - URL: https://www.coloradoestatematters.com/denver-common-law-marriage-attorney/ There are many misconceptions surrounding common-law marriages in Colorado a Denver common law marriage attorney could clear up for you. Many people even assume that common-law marriages no longer exist or are invalid. However, it does still exist, and when a significant other dies, it can be a very complex and expensive matter to prove the marriage did, or did not, exist. A Denver common law marriage can be nuanced and difficult to prove. If you're facing a common law marriage issue after the death of a loved one, you need an experienced attorney to advocate for your rights. Contact a dedicated Colorado common-law marriage lawyer at Colorado Estate Matters, Ltd. for the legal support you need, when you need it most. Schedule your free consultation when you call us at (303) 713-9147. How a Colorado Probate Lawyer at Colorado Estate Matters Could Help You Choosing the right probate attorney to represent you is never easy. But when you choose to work with an experienced Colorado probate attorney at Colorado Estate Matters, Ltd. , you can expect: Communication you can count on More than two decades of legal experience A client-led approach to your case Virtual consultations Free case reviews Attorneys who have a genuine care for you and your family’s best interests What Is a Common Law Marriage in Colorado? There are many misconceptions about Colorado common law marriages. For example, when you see people who have been in a relationship for a considerable amount of time and live... --- - Published: 2021-11-17 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/arvada-living-trusts-attorney/ When you are delving into the often complex world of estate planning, you may be wondering whether you should be setting up living trusts. And if living trusts are a good fit for you, do you even need to craft a will? These questions and more can be discussed when you get help from an experienced Arvada living trusts lawyer at Colorado Estate Matters, Ltd. We can start working on your living trust and other estate plans when you call us at (303) 713-9147 to schedule a free consultation. Can Colorado Estate Matters, Ltd. Help With Your Living Trusts in Arvada? Setting up your living trusts is a big responsibility. Here is how you know you have made the right choice in choosing Colorado Estate Matters, Ltd. : Our office provides virtual consultations upon request. Consultations are always prompt and free. Our attorneys have more than 20 years of legal experience. Colorado Estate Matters, Ltd. is committed to offering clients open, transparent communication. We provide options that are tailored to our clients’ specific needs, situations and wishes. What Is a Living Trust? Living trusts sound much more complicated than they are. Living trusts are just trust that you create while you are still living. Here, you have the opportunity to name your successor trustee who will be entrusted with the property or assets contained in the living trust when you pass away. Living trusts are a great option for families who are hoping to avoid having to put their estate... --- - Published: 2021-11-17 - Modified: 2025-04-01 - URL: https://www.coloradoestatematters.com/arvada-probate-lawyer/ Has your family member asked you to be named as the personal representative of their estate? Did your loved one recently pass away and you only just discovered that you are the personal representative named in their estate plans? If so, you may be feeling confused and worried about how to proceed. Fortunately, a dedicated Arvada probate, estate and trust administration attorney at Colorado Estate Matters, Ltd. can guide you through their process so you can honor your loved one’s wishes. Contact our office at (303) 713-9147 when you are ready to schedule your free consultation. Is Colorado Estate Matters, Ltd. Right for You? Unsure whether Colorado Estate Matters, Ltd. is going to be able to help with your Arvada probate, estate and trust administration? Here is what you can expect when you go with Colorado Estate Matters, Ltd. : Our estate planning attorneys genuinely care for our clients and their families. We always provide our clients with open, transparent communication they can rely on. Our firm takes a client-led approach to estate planning. We have earned five star ratings on Google. What to Expect as a Personal Representative in Arvada Under Colorado law, when a person is building their will in Arvada, or anywhere across the state, they will need to name a personal representative. This is the individual who will be responsible for handling their affairs upon their passing. If you have been selected as a person's personal representative, here are some of the key responsibilities you will... --- - Published: 2021-11-17 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/arvada-trusts-will-contests-attorney/ When you are crafting your estate plans, one of the most important things you can begin to prepare for are disputes. It is not at all unusual for family members to contest trusts, wills, and other estate plans. Whether they believe the documents are invalid or that they have been treated unfairly in these forms, you may need to take steps to prepare for them accordingly. But you may also find yourself in need of an attorney if your relative or loved one’s estate plans, trusts, and wills need to be called into question for valid reasons. An experienced Arvada trusts and will contests attorney at Colorado Estate Matters, Ltd. could advocate for your rights. Find out how we can help you when you contact our office at (303) 713-9147 for a free consultation. When to Call Colorado Estate Matters, Ltd. Are you struggling to find the right law firm to represent you and your family? If so, here is what you will get when you select Colorado Estate Matters, Ltd. for help with your trusts and will contests: Attorneys who genuinely care for our clients Free and virtual consultations Decades of experience Transparent communication Our client-led approach When Do Trusts and Will Contests Occur in Arvada? There are many different instances in which a person may feel it necessary to contest the validity of a trust or will. There may also be concerns over how the trust is being managed, whether appointed trustees are handling their responsibilities, and other... --- - Published: 2021-11-17 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/arvada-guardianship-conservatorship-attorneys/ If you have a loved one who is no longer able to adequately care for themselves, you may need to take action to protect their well-being and future. Guardianships and conservatorships can be a great way for individuals to get the help and support they need to improve their quality of life. Obtaining a guardianship or conservatorship order in Arvada can be more complex than many people realize. However, when you have an experienced Arvada guardianship and conservatorship lawyer at Colorado Estate Matters, Ltd. representing you, the process does not have to be as difficult as it may seem. Contact us at (303) 713-9147 to schedule your free consultation today. How Can Colorado Estate Matters, Ltd. Help With Your Guardianship or Conservatorship in Arvada? Choosing the right attorney for your guardianship or conservatorship in Arvada can be challenging. You want to be sure you are choosing a legal representative you can count on. When you choose Colorado Estate Matters, Ltd. , the benefits are undeniable: Free consultations Ability to discuss your case virtually Decades of experience (20+ years) Attorneys who genuinely care for our clients and their families Custom estate planning options Transparent communication A client-led approach to estate planning Prompt appointments available Rated 5 Stars on Google What Is a Conservatorship? Many people are quick to confuse conservatorships with guardianships. In a conservatorship, if an adult is unable to manage their finances, whether that be due to a medical condition or other circumstances, a conservator may be appointed to... --- - Published: 2021-11-17 - Modified: 2024-03-20 - URL: https://www.coloradoestatematters.com/centennial-estate-planning-attorney/ There is no better time than the present to get started on your estate plans. If the pandemic taught us anything, it is that time is precious. It is important that you take steps now to protect yourself and your family later. Speak with an estate planning lawyer, since there are many important details you will want to go over while crafting your estate plans. And it can often be a more complicated process than many people realize. Get the legal help you need to formulate strong estate plans when you contact a reputable Centennial estate planning lawyer at Colorado Estate Matters, Ltd. . Call us at (303) 713-9147 for your free case review. When to Call a Colorado Estate Matters, Ltd. Estate Planning Attorney in Centennial Thinking about estate planning in Centennial? Here are a few reasons why you should choose Colorado Estate Matters, Ltd. to represent you: We provide open, transparent communication you can count on. We take a client-led approach to planning your estate. Our consultations are always free. Remote appointments are available upon request. Colorado Estate Matters, Ltd. has over twenty years of legal experience. Reasons to Get Started Planning Your Estate The best time to start planning your estate is now. It does not matter how old you are or where you are at in your life. There are many different reasons why it is of utmost importance to get your estate plans together. One of the most important reasons for having estate plans is... --- - Published: 2021-11-17 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/centennial-living-trusts-lawyer/ When a loved one passes away, their estate must go through probate before family members and beneficiaries can obtain the assets and property left to them. But when families are emotionally distraught over their loss, going through probate can be tedious and time-consuming. Fortunately, when you formulate your estate plans, you may be able to set up living trusts that allow your family to avoid the probate process. Get started on your Centennial living trusts when you contact Colorado Estate Matters, Ltd. for a free, no-obligation consultation at (303) 713-9147. Why Choose Colorado Estate Matters, Ltd. ? No one said choosing your Centennial living trusts attorney would be easy. But when you go with Colorado Estate Matters, Ltd. , you can expect the following benefits: Virtual and free consultations More than 20 years of legal experience on your side Trusted communication you can count on A unique, client-focused approach to estate planning Legal advocates who are top-rated on Google More About Living Trusts in Centennial Many people assume that a living trust is the same thing as a will. But this is not the case. Living trusts are much different from wills. In a living trust, you are setting up certain assets or property to be transferred to your family members or loved ones after you pass away. Here, you may be able to help them avoid the time-consuming hassle that often comes with putting an estate through probate. But in a will, property and assets are being passed down... --- - Published: 2021-11-17 - Modified: 2025-04-01 - URL: https://www.coloradoestatematters.com/centennial-probate-lawyer/ Have you recently been named as the administrator of a loved one’s probate, estate, or trust? Are you confused about what your obligations are? Does your family member want you to agree to be their probate, estate and trust administrator? Are you unsure of whether you should agree? Becoming the personal representative of an individual’s estate is more involved than many people realize. But that does not mean you should not do it. Contact an experienced Centennial probate, estate and trust administration attorney at Colorado Estate Matters, Ltd. to schedule a free consultation. Reach us at (303) 713-9147 to get the answers you have been looking for. Why Should You Go With Colorado Estate Matters, Ltd. ? Are you looking for a dedicated probate, estate and trust administration attorney in Centennial? Here are some reasons to choose Colorado Estate Matters, Ltd. to represent you: We always offer prompt, and free consultations that can be virtual upon your request. Our approach is client-led. You can count on our open, transparent communication. We genuinely care about our clients and their family’s needs. We bring decades of legal experience to back you up. What Happens When You Are Named as a Probate, Estate and Trust Administrator in Centennial? Being named as the personal representative of someone’s estate is a huge responsibility. When you have a family member or loved one who has selected you as their personal representative, you will be expected to carry out their affairs once they pass away. As you... --- - Published: 2021-11-17 - Modified: 2025-04-15 - URL: https://www.coloradoestatematters.com/centennial-trusts-will-contests-lawyer/ One major mistake people make when writing their wills and setting up trusts is failing to consider the possibility of a dispute. But the fact remains that when family members or beneficiaries have concerns regarding the details as outlined in a will or trust, they may have the right to contest it. If you want to protect your family from these types of issues in the future, you need to act now to craft carefully-worded estate plans that leave little to no room for debate. Start working on yours when you contact a dedicated Centennial trusts and will contests attorney at Colorado Estate Matters, Ltd. Schedule your free consultation when you call our office at (303) 713-9147. Why Colorado Estate Matters, Ltd. Is Right for You When you are dealing with trusts and will contests, you need a committed attorney in Centennial to represent you. Here is why Colorado Estate Matters, Ltd. is a good fit for your case: We have genuine care for our clients and their families. We always offer free and prompt consultations that can be virtual upon your request. Our firm has several decades of legal experience in Centennial and the state of Colorado. Our approach is simple: We believe that a client-led approach to the best strategy Former clients have taken the time to give Colorado Estate Matters a 5-star rating on Google. Time Limits for Trusts and Will Contests in Centennial If you are having an issue with a will or trust and believe... --- - Published: 2021-11-17 - Modified: 2024-03-20 - URL: https://www.coloradoestatematters.com/golden-estate-planning-attorney/ When you are getting ready to sit down and plan your estate, you may be feeling overwhelmed. There are many different elements that need to go into strong estate plans. And before you sign documents that you do not understand, it is important that you carefully consider all of the different components of a well-crafted estate plan. To get started on yours, reach out to an experienced Golden estate planning attorney at Colorado Estate Matters, Ltd. Schedule your free consultation when you call our office at (303) 713-9147 or contact us online. How estate planning gives you the power to plan for your future? There are many different reasons why it is important to start planning your estate today. Several elements go into well-crafted estate plans. If you want to be sure that your wishes are observed after you pass away, it is important that you make sure that they are accurately and thoroughly documented. Having estate plans can also help protect your family from dealing with estate taxation after your death. When they are already mourning your loss, avoiding these types of frustrations can save them a considerable amount of stress. It is also important to draw up your estate plans to prevent the likelihood of family disputes after your death. It is not uncommon for families to disagree with how property and assets are distributed after a family member passes away. But when you carefully explain your wishes in your estate plans, the opportunity for contests or disputes... --- - Published: 2021-11-17 - Modified: 2025-04-01 - URL: https://www.coloradoestatematters.com/golden-living-trusts-lawyer/ It is not unusual for people to go into the estate planning process with the idea that they want to do everything possible to avoid having their estate go through probate. One of the best ways to accomplish his goal is by setting up living trusts. But living trusts can often be more confusing than many people realize. When you have a dedicated Golden living trusts attorney at Colorado Estate Matters, Ltd. representing you, you can get the clarity and answers you need to set up your living trust and protect your family’s future. Schedule your free consultation when you call our office at (303) 713-9147. Why Choose Colorado Estate Matters, Ltd. for Help With Living Trusts in Golden Are you still having trouble figuring out which law firm is the right one to help you with your Golden living trusts? Here is what you get when you select Colorado Estate Matters, Ltd. : Prompt and free consultations The ability to discuss your case virtually Our unique, client-led approach Several decades of legal experience Google 5-star client rating Benefits of Living Trusts One of the primary concerns people have when they are formulating their estate plans is how to help their families avoid having to go through probate. One of the best ways to avoid probate is by setting up a living trust. Living trusts in Golden allow you to transfer your assets or property to your family members, or trustees when you die. This is different from a will... --- - Published: 2021-11-17 - Modified: 2025-04-15 - URL: https://www.coloradoestatematters.com/golden-probate-lawyer/ If you have been entrusted as the administrator of a family member's probate, estate, or trust, you may be feeling overwhelmed. There are many responsibilities that come with being the personal representative of someone’s estate. It may be in your best interest to get help understanding what is expected of you and how to proceed. Meet with an experienced Golden probate, estate and trust administration attorney at Colorado Estate Matters, Ltd. to get the answers you have been looking for. Claim your no-cost case review when you call us at (303) 713-9147. When to Choose Colorado Estate Matters, Ltd. Probate, estate and trust administration is not easy. When you have been named as a personal representative, get an experienced attorney at Colorado Estate Matters, Ltd. to represent you. Here is when you should call us for help: You need a free consultation. You want to be seen as soon as possible. You are looking for an attorney you can count on to communicate well and often. You want to meet virtually to discuss your case. You are looking for a law firm with years of proven legal experience. What Is Probate, Estate and Trust Administration in Golden Probate, estate and trust administration refers to the responsibilities that a personal representative, beneficiary, or trustee have regarding someone else’s estate. When you lose a loved one, they will have had the opportunity to name a personal representative as part of their will or estate plans. If they did not have a will... --- - Published: 2021-11-17 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/golden-trusts-will-contests-attorney/ One of the most important things many people try to do when crafting their wills and trusts is to be as detailed as possible. It is not unusual for family members to have disputes regarding the contents of a person's trust or will. This is especially true when the person who has passed away has not informed their family members of what their estate plans included. In any case, even the most carefully written wills and trusts agreements could be contested. Depending on the details of your case, you may need an attorney by your side who can help you figure out whether you meet the grounds necessary to contest a will or trust. Find out what legal options may be available to you when you schedule a free consultation with an experienced Golden trusts and will contests attorney at Colorado Estate Matters, Ltd. . You can reach us at (303) 713-9147. Selecting Your Trusts and Will Contests Attorney: Why Go With Colorado Estate Matters, Ltd. ? The benefits you get when you select Colorado Estate Matters, Ltd. to represent you are undeniable: Ability to discuss your case virtually Custom estate planning options Open, transparent communication Client-led approach Prompt appointments available FREE consultations Google Rated 5 Stars Chat with us 24/7 When Are Golden Trusts and Wills Contested? It is not unusual for trusts or wills to be disputed. In some cases, the beneficiaries are unhappy with the contents of the trust, or have other ideas regarding how the estate... --- - Published: 2021-11-17 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/golden-guardianship-conservatorship-attorneys/ Do you have concerns over your family member’s ability to continue supporting themselves financially, physically, or emotionally? Are you interested in learning more about obtaining guardianship over someone close to you? Or perhaps you are interested in learning more about whether a conservatorship is more appropriate? Guardianships and conservatorships are taken seriously in the state of Colorado. If you believe that someone you love could benefit from a guardianship or conservatorship, reach out to a compassionate Golden guardianship and conservatorship attorney at Colorado Estate Matters, Ltd. for a free consultation. Call us at (303) 713-9147 to get started. Is Colorado Estate Matters, Ltd. the Right Law Firm for You? When you need help with a guardianship or conservatorship in Golden, here are a few reasons why Colorado Estate Matters, Ltd. is the right law firm for you: Our attorneys genuinely care for our clients and their families. It is important to us that your family is able to get through these tough times and get your legal matters under control while minimizing any damage that might be done to your relationships. We always offer quick and free consultations. We know that you do not have time to wait weeks to be seen. We will get you in as soon as possible and learn more about what your needs are with our client-led approach. Colorado Estate Matters, Ltd. has 20+ years of legal experience and a strong track record of success. Differences Between Guardianships and Conservatorships in Golden When an adult... --- - Published: 2021-11-17 - Modified: 2024-09-05 - URL: https://www.coloradoestatematters.com/wheat-ridge-estate-planning-lawyer/ Did you recently get married? You could have added another member to your family. Or you are retiring and thinking about what is next for your life. Having your estate plans in order is important regardless of your life stage. But putting together estate plans can also be far more detailed than many people are prepared for. If you are going to take the time to craft an estate plan, you want to do it correctly and completely. Work with an experienced Wheat Ridge estate planning lawyer at Colorado Estate Matters, Ltd. to develop strong estate plans you can count on. Schedule a free consultation today by calling (303) 713-9147. What’s included in a strong estate plan? Trust a Colorado Estate Matters estate planning attorney to help you achieve your financial goals, protect your assets, and provide legal protection for your heirs. Will or trust To make a will in Colorado, you must be at least 18 years old and of sound mind. Our Wheat Ridge estate planning attorneys will draft a will according to Colorado inheritance laws to allocate your assets. You can name an executor you trust, or our legal firm also offers professional estate administration services. Trusts contain assets owned by a third party (the trust) and administered by the trustee. The trustee can be the founder – you – or another. Trusts allow you to enjoy the financial benefits of the assets without paying certain taxes. You can also establish trusts to pay for a child’s... --- - Published: 2021-11-17 - Modified: 2025-06-16 - URL: https://www.coloradoestatematters.com/lakewood-living-trusts-attorney/ When planning your estate, one powerful tool to consider is a living trust. Living trusts can provide your family with a smoother path by helping avoid the often lengthy and costly probate process after you pass away. If you want to protect your assets and ensure your loved ones receive their inheritance quickly and privately, a living trust might be the right choice for you. To explore whether a living trust fits your unique needs, connect with a trusted Lakewood living trusts attorney at Colorado Estate Matters. Our experienced trust lawyers are here to guide you every step of the way. Call us today at (303) 713-9147 for your free consultation and start securing your family’s future. Why is Colorado Estate Matters, Ltd. the right law firm for you? Choosing the right law firm for your estate planning is crucial. At Colorado Estate Matters, Ltd. , we bring decades of experience as dedicated living trusts attorneys serving Lakewood and the surrounding areas. Our team prioritizes clear communication and personalized service to help you understand every step of the trust administration and estate planning process. We offer flexible options, including virtual consultations, to fit your schedule. With us, you get a trusted trust attorney who will guide you through creating a comprehensive plan that protects your assets, supports your family members, and helps you avoid the complexities of probate court. Call us today to learn how we can help you secure your legacy. How to craft a living trust in Lakewood... --- - Published: 2021-11-17 - Modified: 2025-04-01 - URL: https://www.coloradoestatematters.com/wheat-ridge-probate-lawyer/ Did you recently find out that you were selected as the administrator of your loved one’s estate? Do you have questions and concerns about what your responsibilities are? If so, you may benefit from the legal counsel of an experienced Wheat Ridge probate, estate, and trust administration attorney. At Colorado Estate Matters, Ltd. , we are dedicated to helping individuals and families get through some of the most difficult times of their lives. While your family is mourning your loss, you need the counsel of our skilled Wheat Ridge probate lawyer to ensure the process goes as smoothly as possible. Schedule your free consultation today when you call our office at (303) 713-9147. When should you call our Wheat Ridge Probate Lawyer with Colorado Estate Matters, Ltd. It can be difficult to know when to reach out to a Wheat Ridge probate lawyer. Call Colorado Estate Matters, Ltd. when: You need a virtual consultation. You are looking for a fast appointment that is free. You are looking for a law firm with a client-focused approach. Your family is looking for communication you can count on. You need a law firm with decades of experience and proven results. What It Means to Administer Probate, Estates, and Trusts in Wheat Ridge When someone is working on drafting the details of their will, trusts, or other estate plans, they will need to name beneficiaries, guardians, and a personal representative to handle the affairs of their estate. When you have been named as the... --- - Published: 2021-11-17 - Modified: 2025-06-16 - URL: https://www.coloradoestatematters.com/lakewood-wills-trusts-contests-attorney/ Creating an estate plan is crucial, but sometimes disputes arise over the validity or terms of a will or trust. When disagreements threaten your family’s peace and the proper distribution of assets, having an experienced Lakewood wills and trusts attorney can make all the difference in resolving these conflicts effectively. At Colorado Estate Matters, our skilled trust lawyer and estate lawyer represent clients in disputes involving wills and trusts, helping to navigate the complex legal process of contesting or defending an estate. Call us today at (303) 713-9147 for trusted legal support in protecting your rights and interests. Why Colorado Estate Matters, Ltd. ? When it comes to resolving disputes over your loved one’s estate, you need a law firm with deep experience and personalized service. At Colorado Estate Matters, we bring extensive knowledge of trusts and estate law, including contesting wills and trusts, probate law, and strategies to protect your rights. Here’s why families in Lakewood trust us with their will and trust disputes: Experienced wills and trusts attorneys skilled in handling contests and challenges to protect your interests Comprehensive guidance on the legal grounds for contesting or defending wills, trusts, and related documents Skilled in navigating the probate court system to effectively resolve disputes and protect assets Personalized service focused on safeguarding your family’s legacy and minimizing conflict Clear communication and support throughout the often complex legal process of will and trust contests Choose Colorado Estate Matters to work with a trusted Lakewood wills and trusts attorney who... --- - Published: 2021-11-17 - Modified: 2025-06-16 - URL: https://www.coloradoestatematters.com/lakewood-guardianship-conservatorship-attorneys/ Navigating guardianships and conservatorships can be emotionally challenging and legally complex—especially when a loved one is no longer able to manage their affairs. Whether you're seeking to establish a guardian for an incapacitated person or need a conservator to oversee financial matters, having the right legal guidance is essential. Our Lakewood guardianships and conservatorships attorney can help you understand your options and protect your family’s best interests. At Colorado Estate Matters, our law firm provides compassionate, knowledgeable support through every step of the legal process. From preparing for a court hearing to understanding powers of attorney, we offer comprehensive legal services tailored to your situation. Call (303) 713-9147 today to speak with an experienced guardianship lawyer and take the next step with confidence. Why Colorado Estate Matters, Ltd. in Lakewood? When you're dealing with guardianships and conservatorships, you need a law firm that combines legal skill with a compassionate, practical approach. At Colorado Estate Matters, Ltd. , our Lakewood guardianships and conservatorships attorney brings more than two decades of experience helping families manage financial matters, medical care, and living arrangements for loved ones who are unable to manage their affairs. Here’s why families trust us with these sensitive legal matters: More than 20 years of experience in estate planning, probate law, and guardianship cases Immediate, no-cost initial consultations to get answers quickly Virtual consultations available to meet your needs wherever you are Trusted communication throughout the legal process—no surprises, no confusion Comprehensive legal services covering powers of attorney, court hearings,... --- - Published: 2021-10-04 - Modified: 2025-08-25 - URL: https://www.coloradoestatematters.com/denver-estate-planning-attorney/ It’s easy to put off estate planning until tomorrow or later in life, but unexpected events can occur anytime, and tomorrow is never guaranteed. When unexpected events happen, having a well-thought-out and legally binding estate plan can make all the difference for you and your loved ones. When you meet with a Denver estate planning attorney at Colorado Estate Matters, we’ll work to create a complete estate plan that can be as simple or complex as you need. Still, it will typically include a minimum of the following: a will or trust, powers of attorney, and a living will. Our team of estate planning attorneys is dedicated to helping our clients create comprehensive estate plans that fit their unique needs and goals to ensure that they will be carried out exactly as intended. Contact us online or at (303) 713-9147 to schedule your consultation. Our Firm Protects You Against Estate Planning Fraud It is understandable why a relative might contest estate planning decisions, especially if they believe they deserve a larger estate share. This dissatisfaction often prompts fraudulent attempts during the estate planning phase and the probate process following an individual's death. The invalidation of a fraudulently-executed will occurs during the probate process, necessitating potentially prolonged litigation to establish the will's validity. Here’s how our Denver estate planning attorney can protect you against estate planning fraud. Safeguarding the integrity of your will Your will, a crucial legal document outlining asset distribution without named beneficiaries, must reflect your true wishes. Estate... --- - Published: 2019-07-22 - Modified: 2025-04-01 - URL: https://www.coloradoestatematters.com/resources/ Full Estate Planning Teaching Glossary Terms Glossary A to I Glossary J to Z Legal U. S. Courts West Westlaw Government FirstGov Library of Congress U. S. House of Representatives U. S. Senate White House General Google Maps National Weather Service Yahoo! Maps YellowPages. com News New York Times Newspapers Online USA Today Wall Street Journal Search Engines Google MSN Yahoo! --- - Published: 2019-07-22 - Modified: 2019-07-31 - URL: https://www.coloradoestatematters.com/thank-you/ Thank you for emailing us. Someone will be in touch with you shortly. For urgent matters please contact us at (303) 713-9147. We look forward to speaking with you soon. --- - Published: 2019-07-22 - Modified: 2022-07-20 - URL: https://www.coloradoestatematters.com/disclaimer/ The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established. --- - Published: 2019-07-22 - Modified: 2024-07-22 - URL: https://www.coloradoestatematters.com/denver-estate-planning-attorney/asset-protection/ Asset protection planning is an important step in the process of planning for the future of your loved ones. Regardless of your age and current health condition, a Denver asset protection planning attorney can assure proper asset protection planning ensuring that your spouse, children, or other surviving loved ones will have financial support when you pass. Call Colorado Estate Matters today for a free consultation at (303) 713-9147. What is asset protection planning? Asset protection involves protecting your assets, including investment accounts, real estate, and other property, from litigation and seizure by creditors. There are different types of asset protection plans, some of which are better suited to certain financial situations than others. By creating an appropriate asset protection plan for your situation, you can still retain control over your assets while safeguarding them from creditors and judgments. What are some Asset protection planning tools? There are a number of different asset planning tools and options that are available. The right one for you depends on your financial situation, your needs, and your wishes for the future. Some of these can include (but are not exclusive to): domestic and foreign asset protection trusts, credit shelter trusts, special needs trusts, and discretionary trusts. Credit shelter trusts Also known as by-pass trusts or family trusts, these trusts can shelter or protect certain assets from federal estate taxation obligations. Special needs trusts With a special needs trust, the trust's assets can be used to offer financial support to loved ones who may have... --- - Published: 2019-07-22 - Modified: 2024-11-19 - URL: https://www.coloradoestatematters.com/denver-guardianship-conservatorship-attorneys/ In this case, when a loved one is no longer able to care for themselves mentally and physically, do you know what to do? What if a loved one is not able to make financial decisions? If you are facing this situation, contact a Denver guardianship and conservatorship attorney at Colorado Estate Matters, Ltd. today. We can help you navigate complex legal issues concerning guardianships and conservatorships. They can assist you in protecting your loved one’s best interests in Denver, CO. Call us at (303) 713-9147 or reach out to us online. Why Choose Colorado Estate Matters, Ltd. ? Our Denver estate planning lawyer takes a client-centered approach to the services we provide and strives to address the entire family dynamic. At Colorado Estate Matters, Ltd. , a Denver guardianship and conservatorship attorney is skilled in using a variety of approaches to develop unique solutions that meet your objectives and needs. Our lawyers have more than 20 years of experience handling all matters of estate law, including guardianships and conservatorships. How We Can Avoid Having You and Your Assets Placed In a Guardianship or Conservatorship In any case, obtaining a guardianship or conservatorship may not be the best course of action for everyone. On the bright side, in some cases, it is possible to avoid guardianship or conservatorship with proper estate planning. You should prepare a plan with the help of a Colorado estate planning lawyer while a person still has the mental and physical capacity. Possible solutions may include:... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-living-trusts-attorney/ {"@context":"https://schema. org","@type":"FAQPage","mainEntity":}A living trust can be an important component of your estate planning. It may allow you to avoid probate and provide better control of your assets. Call Colorado Estate Matters, Ltd. at (303) 713-9147 and speak with a Denver living trust attorney to get a free consultation. We can help you determine if creating a living trust is the right estate planning step for you. Why Choose A Denver Living Trust Attorney? We take a client-centric approach to the services we provide. Our experienced living trust lawyers strive to address the entire family dynamic to help ensure that you leave a positive and lasting legacy for your loved ones. Our goal is to make the planning process as convenient as possible for our clients. At your request, we can visit you in your home or at a hospital, nursing home, or hospice. Our Denver estate planning lawyer provides open, transparent communication to our clients and their beneficiaries. We believe in providing all the information our clients need to make the best possible decisions that lead to the best possible outcomes. What Is a Living Trust? A well-written living trust is a sophisticated legal instrument that works like a basket for your assets. The person making the trust (grantor) agrees to put his or her assets into the trust, stipulates how the trust will be managed, determines who will get the benefit of the property in the trust (beneficiaries), and appoints a trustee to manage the property according to trust... --- - Published: 2019-07-22 - Modified: 2024-03-29 - URL: https://www.coloradoestatematters.com/denver-living-trusts-attorney/charitable-remainder-trusts/ {"@context":"https://schema. org","@type":"FAQPage","mainEntity":}Charitable remainder trusts are estate planning tools that can be effective in reducing certain tax obligations while still providing the beneficiaries of the trust with some specific assets. At Colorado Estate Matters, Ltd. , our Denver estate planning lawyer are experienced at assisting people in the creation and administration of charitable remainder trusts in order to protect their assets and their loved ones while minimizing their future potential costs and stresses, particularly when it comes to tax responsibilities. Give us a call to learn more at (303) 713-9147, or contact us online. How Does A Charitable Remainder Trust Work? Also sometimes referred to as split-interest trusts, charitable remainder trusts are set up to: Grant a certain percentage or portion of the trust’s assets to a non-charitable party (like, for instance, a trust maker's spouse, child or other loved one) Stop distributing the trust’s assets to this beneficiary after a certain period of time (such as, for example, after 10 years, after the beneficiary reaches a certain age or even after the beneficiary passes away) Give the remainder of the trust’s assets to one or more chosen charities Provide certain tax breaks to the assets of the trusts to preserve these assets for the chosen beneficiaries (i. e. , the non-charitable beneficiary, as well as the chosen charities). It’s important to point out that, when it comes to a charitable remainder trust: The term of these trusts may extend for the duration of a beneficiary’s life or for fixed periods... --- - Published: 2019-07-22 - Modified: 2024-03-29 - URL: https://www.coloradoestatematters.com/denver-living-trusts-attorney/life-insurance-trusts/ {"@context":"https://schema. org","@type":"FAQPage","mainEntity":}Life insurance trusts are specific types of irrevocable trusts that can effectively reduce or eliminate future estate tax obligations. A Denver life insurance trust lawyer at Colorado Estate Matters, Ltd. , has the experience and resources necessary to help you create a comprehensive life insurance trust that can save your loved ones a substantial amount of money, headaches, and stress in the future. Call us today for more information at (303) 713-9147, or fill out our online contact form. How Life Insurance Trusts Work Once you develop a life insurance trust, your life insurance policy must be transferred into that trust. It means the proceeds from the life insurance policy will be paid to the trust. Through the terms of the trust, the trustmaker or grantor can: Choose a trustee to administer the trust (i. e. , pick someone who is not a beneficiary of the life insurance policy to have control over the trust) Determine how the premiums will be paid Select beneficiaries to the policy Lay out the terms for how the payouts from the policy will be paid to one or more beneficiaries. In order for a life insurance trust to be legal and effective, it must meet the following basic requirements: The life insurance trust has to be irrevocable. The person who is creating the trust cannot be the trustee. The trust has to be in place for at least three years prior to the death of the person who is the subject of the... --- - Published: 2019-07-22 - Modified: 2024-03-29 - URL: https://www.coloradoestatematters.com/denver-living-trusts-attorney/revocable-living-trusts/ {"@context":"https://schema. org","@type":"FAQPage","mainEntity":}Revocable living trusts are powerful documents that allow people to discretely pass down property to beneficiaries without the hassle and expense of probate. While you may think that revocable living trusts are only important for people with a substantial amount of assets, The Denver revocable living trust lawyers at Colorado Estate Matters can assure you that having the protections of revocable living trusts in place is important regardless of whether you may or may not have significant assets. This is because, upon the passing of the trustee (i. e. , the person who created the revocable living trust), the assets of the trust can be immediately transferred to the appropriate beneficiaries instead of being tied up in court and facing the threat of having to be sold off to pay probate costs and other fees. At Colorado Estate Matters, Ltd. , our Denver living trusts lawyers are experienced at assisting people in the development of comprehensive revocable living trusts and helping them amend these trusts as their circumstances and wishes may evolve. We can help you develop an effective revocable living trust for you. This will appropriately manage your assets while protecting your loved ones in the future. What are the benefits of have a Revocable Living Trust? There are a number of different tools and documents that can be used for your estate planning needs. Some of the benefits of developing revocable living trusts can include these documents: It will remain private There is minimal of the court’s... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-wills-attorney/living-wills/ Having a living will in place is important for your loved ones and for your own peace of mind. It helps you prepare for unexpected medical situations. With our free consultations, there’s no risk to you for contacting a Denver living will attorney at the Denver-based Colorado Estate Matters, Ltd. today. Call (303) 724-9147 to schedule your no-obligation consultation. Why choose our Denver living will attorney? Transparency At Colorado Estate Matters, we commit to communicating openly and transparently with our clients and any beneficiaries with whom we’re authorized to communicate. It’s our policy to provide all the information you need to make the best possible decisions for you and your future. Experience Our Denver estate planning lawyer has more than a decade of experience handling all matters of estate law. We use a combination of traditional and innovative approaches to develop unique solutions that meet your objectives and needs. Compassion We take a client-centered approach and strive to address the entire family dynamic to help you leave a positive and lasting legacy for your loved ones. What is a living will? A “living will,” sometimes called a Declaration as to Medical or Surgical Treatment in Colorado, is a legal document that allows you to tell your medical providers and your family members what medical treatment you would or wouldn’t want to receive in the event you’re unable to communicate, such as if you’re in a vegetative state with no hope of recovery. For example, it will explain whether or not... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-powers-of-attorney/ Powers of attorney are key components of any estate plan. These legal documents allow you to designate a trusted person to make financial and health care decisions for you. A power of attorney is used if you become incapacitated and unable to make decisions yourself. If you do not yet have a power of attorney, the sooner you remedy the situation, the better. Contact a Denver power of attorney lawyer at Colorado Estate Matters, Ltd. to discuss legal assistance and all your estate planning matters with powers of attorney and all your estate planning matters. Why Choose Colorado Estate Matters, Ltd. ? We have more than two decades of experience handling the full range of estate law matters for our clients. Our Denver estate planning attorneys can visit you at home or in a hospital or nursing home if you request it. It is about trying to make the process as convenient as possible for our clients. Justin W. Blow can assist you with probate, will contests and issues regarding common law spouses. What Are Powers of Attorney? A power of attorney is a legal document that grants legal rights and powers by a person (principal) to another person (agent or attorney-in-fact) to make decisions on behalf of the principal. The agent makes decisions based upon the principal’s preference pursuant to the authority granted in the power of attorney. The agent may not override the principal. How We Approach Powers of Attorney At the law firm of Colorado Estate Matters,... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-powers-of-attorney/durable-financial-poa/ A durable financial power of attorney is a legal document that gives someone the authority to oversee your finances. This in the event that you are unable to do so because you have become mentally and/or physically incapacitated. Making sure that you have a durable Denver financial power of attorney lawyer can be critical to ensuring that your financial matters are properly handled. You should name someone you trust if or when you cannot handle these matters on your own at any point. A Denver financial power of attorney lawyer from Colorado Estate Matters, Ltd. , is experienced at developing comprehensive durable financial powers of attorneys for our clients. We can help you develop financial directives that clearly spell out your wishes and that will appropriately protect your assets. Also in case you may not be able to oversee such protections due to an accident, illness or injury. Give us a call for more information (303) 713-9147, or reach us online. How do durable Financial Powers of Attorney Work? Also referred to as a durable power of attorney for finances, a durable financial power of attorney works similarly to a durable medical power of attorney in that this type of directive: Specifically appoints some individual to be the agent or attorney-in-fact who will act on your behalf. Clearly outlines your wishes for how certain matters should be handled. A Durable financial powers of attorney can be simple or as complicated as a person wants them to be. For instance, while... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-powers-of-attorney/durable-medical-poa/ A medical durable power of attorney is a legal document that gives someone the authority to make important healthcare decisions. This is if you ever become physically or mentally incapable of doing so on your own. Without a durable Denver medical power of attorney lawyer your loved ones may have to go to court. They have to prove that they have the authority to make healthcare choices for you. Nothing is more distressing than the court process for situations in which loved ones do not know what you wanted. Or even what healthcare choices you want them to make when you have become mentally or physically incapacitated. To clearly lay out your wishes in such cases so that your loved one (or someone else) can effectively act on your behalf, it’s crucial to set up a durable medical power of attorney. Because you never know what tomorrow will bring, it’s never too early to set up these directives. Therefore, do not put off meeting with a Denver medical durable power of attorney lawyer at Colorado Estate Matters, Ltd. to discuss your options and get professional assistance. Call us for more information at (303) 713-9147. How Do Durable Medical Powers of Attorney Work? Also referred to as a durable power of attorney for health care, a medical durable power of attorney is a healthcare directive that essentially outlines a person’s wishes for his health care so they can be carried out when he is unable to articulate these wishes himself. In... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-wills-attorney/ A will forms the foundation of estate planning for many people. If you do not yet have a will or estate plan, call Colorado Estate Matters, Ltd. at (303) 713-9147. An experienced Denver wills attorney at our firm can draft a basic will and accompanying documents at a reasonable price. Why should I work with a lawyer? Can’t I write my own will? While individuals can draft their own will, the process involves more than just jotting down their wishes on paper. Working with Denver wills attorneys can provide invaluable legal counsel, ensuring that your will is legally sound and accurately represents your wishes for your estate after your passing. Navigating the complexities of wills and estates One of the major reasons to hire a Denver wills lawyer is the complexity of the laws surrounding wills and estates. Each state has its own specific set of laws and regulations regarding wills and a professional Denver wills attorney will be well-versed in these laws. They can guide you through the complexities of estate planning, considering potential tax implications and helping minimize the risk of future legal disputes amongst your beneficiaries. Ensuring the legal validity of your will There are certain legal requirements for a will to be valid. For instance, it must be signed by the person making the will (the testator) and witnessed by two other individuals. A wills attorney in Denver can ensure these requirements are met, reducing the risk of your will being contested or invalidated. An ambiguously... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-living-trusts-attorney/testamentary-trusts/ A testamentary trust is a type of trust that takes effect after the trust maker or grantor passes away. These trusts are irrevocable trusts, and they are detailed as part of a will. There are some specific advantages to creating different types of trusts. Though they may not be the best choice for all situations or circumstances. Therefore, it is best to consult with a Denver testamentary trust lawyer at Colorado Estate Matters, Ltd. . We can discuss your needs and wishes and to determine whether testamentary trusts or another option may be the best choice for you and your family. Contact the firm online, or by calling us at (303) 713-9147. What are the Important Elements of Testamentary Trusts? The following are types of testamentary trusts that may be a good option for an individual and their family: Testamentary trusts are often used when the beneficiaries are children – A Minor is not able to directly receive money from a will or inheritance. When there is a minor in a will, a Testamentary Trust should be created. A Testamentary Trust will pass down assets to children or other minors. The trustee manages the testamentary trust on behalf of the minor until they reach the age set by the trust. If you want to provide financial support for a disabled loved one, you should also create a Testamentary Trust. The financial support will come from the trust’s assets while not affecting their eligibility of government benefits. Testamentary trusts are required... --- - Published: 2019-07-22 - Modified: 2023-09-01 - URL: https://www.coloradoestatematters.com/firm-overview/ Welcome to Colorado Estate Matters - Your Partner in Planning and Peace of Mind At Colorado Estate Matters, we understand that estate planning, probate, trust administration, and legal matters can be intricate and emotionally charged. That's why we've crafted a law firm that's more than just a legal resource; we're your local, tight-knit community of professionals dedicated to guiding you through life's most important decisions. Expertise that Matters Our specialized focus on estate planning, probate, trust administration, and probate and trust litigation sets us apart. With years of combined experience, our team has honed its expertise to ensure that you receive the highest level of service and guidance. We're passionate about staying current with the ever-evolving legal landscape to provide you with insights that empower your decisions. The Personal Touch At Colorado Estate Matters, we're not just another law firm; we're your neighbors, friends, and allies. We take pride in being the firm that knows your name, understands your unique needs, and is always ready to lend a helping hand. While we bring a wealth of knowledge and experience to the table, we remain responsive and approachable, ensuring you're heard and valued at every step. No Judgment Zone When you step into our offices, leave judgment at the door. We're all about you being you. You won't find imposing marble halls or stiff, impersonal staff here. Instead, you'll experience a warm and inviting environment where you can be yourself. Our down-to-earth approach ensures that you're met with genuine friendliness while... --- - Published: 2019-07-22 - Modified: 2023-06-07 - URL: https://www.coloradoestatematters.com/glossary-a-to-i/ A Teaching Glossary Prepared by Justin W. Blow § 2503(b) QUALIFYING MINOR’S TRUST: This variation of the 2503 Trust creates a “present interest” by requiring that all income from the trust be distributed annually. The distribution of income can be made to the child directly or to a custodial account where it can be accumulated or used for the child’s benefit. The principal can be held in the trust until after the child reaches age 21. The key difference between a 2503(c) Trust and a 2503(b) Trust is the distribution requirement. Parents who are concerned about providing a child or another beneficiary with access to trust funds at age 21 might be better off with a 2503 (b) since there is no requirement for access at age 21. In fact, assets may be held long into the child’s adulthood. The main disadvantage to 2503(b) is that the annual distribution requirement may limit growth of the trust principal. § 2503(c) QUALIFYING MINOR’S TRUST: The Section 2503(c) Qualifying Minor’s Trust is named after the section of the Internal Revenue Code upon which it is based. Under Section 2503(c), a gift to a trust established for a minor qualifies for the gift tax exclusion if the child has the right to withdraw the money at age 21. However, a child can be granted the right to continue the trust term beyond age 21. This trust essentially enables a parent or grandparent (or any other individual) to transfer property that would be subject to... --- - Published: 2019-07-22 - Modified: 2023-06-07 - URL: https://www.coloradoestatematters.com/glossary-j-to-z/ A Teaching Glossary Prepared by Justin W. Blow JOINT AND SURVIVOR ANNUITY: An annuity that is payable for two lives and does not expire with the death of the first annuitant (although the amount may vary after the first death). Required to be available in ERISA defined benefit plans. JOINT TENANCY WITH RIGHT OF SURVIVORSHIP or “JTWROS”: Method of titling property by two or more persons in such a manner that, upon the death of one, the survivor or survivors take the entire property by operation of law without the intervention of probate. It is not necessary to include “with right of survivorship” as there is no joint tenancy without survivorship provisions. This type of titling results in a transfer by operation of law at the death of a joint tenant irrespective of terms of the decedent’s will. Taxation may occur at two times, one the creation of the joint tenancy interest, and two, at the death of a joint tenant. Taxation is different, by statute, at the death of the first joint tenant depending on whether the joint tenants are spouses or not. JOINT TENANTS: Exactly the same as Joint Tenants with Right of Survivorship JOINT TRUST: A trust where there are two or more Grantors/Settlors. This the the form of revocable living trust used most often in community property states (see above) for married couples. It is also used frequently in common law states (see above) for a married couple where there are common heirs and agreement as... --- - Published: 2019-07-22 - Modified: 2023-08-25 - URL: https://www.coloradoestatematters.com/post-mortem-jr-phillips/ Colorado Post-Mortem Law None of us like to think about mortality for ourselves or our loved ones. However, it is not a matter of IF one will become incapacitated or die, but WHEN. This will certainly have effects on all of your family. You want the right outcome for your loved ones when it does happen. This takes planning now, and competent, caring professional services at the time. No one really plans to fail. However many people fail to plan. At the law firm of Colorado Estate Matters, Ltd. , our Denver estate planning attorney provides a comprehensive approach to estate planning. We also handle elder law, probate, estate administration, and legal problem-solving in related areas to clients in the south Denver metro area and throughout Colorado. Each of these areas involves complex technical legal issues as well as very emotional, personal, and family issues. Knowing that we are somewhat unique in offering technical competence, caring and compassionate advice. We also offer counsel, and the ability to explain the options available in a way that allows you to make sound choices. We strongly believe that it is people that are important. Whether it be dealing with a very difficult technical or emotional issue, or doing planning today to minimize future difficulties. Our post-mortem attorneys will bring our experience, training, and expertise to help you and your family through difficult times. We are here to help make this process easier on you as well as your family. Learn about estate planning... --- - Published: 2019-07-22 - Modified: 2024-07-22 - URL: https://www.coloradoestatematters.com/denver-elder-law-attorney/ What is the Difference Between Elder Law and Estate Planning? {"@context":"https://schema. org","@type":"FAQPage","mainEntity":}Elder law focuses on guiding and counseling senior citizens with the issues that arise due to aging. Our Denver elder law attorneys help aging people with long-term care, choosing an estate plan, choosing retirement plans, creating wills, and more. While elder law specifically focuses on the elderly, estate planning is applicable to everyone else. It helps people make a plan in advance to control who receives the things you own after you die. Should I Hire A Denver, CO Elder Law Attorney? The Denver estate planning attorneys of Colorado Estate Matters, we believe that realistic planning for elder law is always better than buying someone’s “magic beans” that may or may not work and could even be harmful. Our elder law lawyers take a conservative and prudent approach, utilizing all of the tools and techniques legally available to you, such as special needs trusts and long-term care insurance. We practice in the south Denver metro area and throughout Colorado. Does Colorado offer Medicaid Planning for People Over Age 60? Nursing home and long term care costs can easily take all of the assets you wanted your beneficiaries to have. Medicaid will cover the costs of this care, but only after you have spent down your assets to become eligible for Medicaid. Over the years, many tools and techniques, such as asset transfers, have been tried to gain eligibility for Medicaid. Almost all have been disallowed by the government. While... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-probate-lawyer/ Probate is a legal process in which a deceased person’s estate is distributed to beneficiaries or heirs and creditors are dealt with. If your loved one had a valid will, the estate's property will be distributed according to their wishes outlined in the will. If the decedent died intestate (with no will), the property is distributed to heirs as set by state law. An experienced probate lawyer at Colorado Estate Matters, Ltd. is ready to provide compassionate and knowledgeable advice to guide you through the probate process. Call us at (303) 713-9147 or complete our online contact form to schedule your free, no-obligation consultation. What are the different types of probate in Colorado? Small estate affidavits A small estate is a compilation of personal property valued at under $80,000 (as of 2023) and devoid of any real property, such as houses or land. In such instances, the appropriate procedure involves filling out a probate form called a small estate affidavit, which is then submitted to the probate court. Once the small estate affidavit is filed and approved by the court, heirs can gather the deceased's assets. The probate court process is streamlined in the case of a small estate, requiring minimal proceedings. Informal probate proceedings Most Colorado probate court proceedings are informal, meaning heirs and beneficiaries agree, and there are no creditor problems to resolve. To begin, you’ll file an application to serve as a personal representative of the estate with the probate court. When the court approves your application,... --- - Published: 2019-07-22 - Modified: 2024-07-23 - URL: https://www.coloradoestatematters.com/denver-probate-lawyer/creditors/ One of the key elements of probate proceedings is dealing with a decedent’s creditors before distributing the assets of the estate. While this can be a relatively easy and minor process in some cases, in more complex situations, it can take some time to resolve creditors’ claims against an estate. At Colorado Estate Matters, Ltd. , our Denver estate planning lawyers are skilled at helping people effectively handle the process with creditors and probate. We ultimately assist them in getting through the probate proceedings with minimal hassle, headaches, and costs. We have the experience and knowledge you can depend on when it comes to resolving a probate case as favorably and efficiently as possible. What is The Process of Dealing with Creditors during Probate? Colorado Probate Code outlines the process for dealing with creditors during probate proceedings. According to this law, the personal representative of an estate (i. e. , the person who is overseeing the administration of the estate and the probate process) must make an effort to notify a decedent’s creditors about the death and handle claims that creditors may have against the estate. When notifying creditors, the personal representative is responsible for: Publishing a Notice to Creditors in newspapers where the decedent lived and where the probate is taking place Making sure that this Notice is published at least once a week for three consecutive weeks Ensuring that the probate case remains open for at least 6 months (if the notice is published) or at least one... --- - Published: 2019-07-22 - Modified: 2023-11-29 - URL: https://www.coloradoestatematters.com/denver-probate-lawyer/what-is-probate/ What is probate? Probate refers to the legal process that occurs after a person has passed away. During probate, the court will carefully examine any will that may be in place to determine whether that will is legitimate (if there is a will in place). Once this matter has been decided: The deceased person’s (i. e. , the decedent) assets will be inventoried. Some or all of the assets may be appraised to determine their value. The estate’s debts, taxes, and other expenses will be paid out from the assets of the estate. The remaining assets will be distributed to the beneficiaries as laid out in the existing will or, when no legal will exists, per the terms of the applicable state laws. Probate can quickly become a complicated and possibly contentious process, especially when there may be significant assets, disputes over the will or tensions between beneficiaries. As a result, it’s best that people dealing with probate hire the Denver estate planning lawyers at Colorado Estate Matters, Ltd. to protect their interests and ensure that the process is resolved with minimal emotional and financial impacts. Issues and Problems with Probate There are some specific issues and problems that can arise from going through the probate process after a loved one passes away. Some of these challenges can include (but not are limited to): The duration of probate – Probate proceedings can take anywhere from a few months to upwards of a year to be resolved. In fact, the more... --- - Published: 2019-07-22 - Modified: 2024-12-27 - URL: https://www.coloradoestatematters.com/denver-trusts-will-contests-lawyer/ An estate plan is important to protect the welfare of your loved ones and ensure that you have a say in how your assets are distributed upon your death. However, heirs, relatives, beneficiaries, and fiduciaries may challenge the validity of a will or trust, potentially leading to costly and emotional legal battles. At Colorado Estate Matters, Ltd. , we understand that no two individuals have the same needs and preferences when it comes to estate plans. With this in mind, we are dedicated to providing custom legal solutions tailored to your circumstances. Our experienced lawyers provide comprehensive services for drafting wills and trusts, contesting existing documents, and more. To learn more about how we can help you draft or update a complete estate plan or if you’re contesting a loved one’s will or trust, contact us today to schedule your free consultation with an experienced Denver will and trust contests attorney by calling (303) 713-9147. What are the different types of trusts our firms can help you with? Trusts help manage and distribute your assets after you pass away. It’s an arrangement where a trustee holds legal title to property for the benefit of one or more beneficiaries. The trust sets out who will manage and distribute the assets, as well as how and when they will be distributed. Many types of trusts are available–your Denver will and trust contests attorney at Colorado Estate Matters, Ltd. will help you determine which one is right for you based on your circumstances.... --- - Published: 2019-07-22 - Modified: 2024-08-06 - URL: https://www.coloradoestatematters.com/denver-trusts-will-contests-lawyer/breach-fiduciary-duty/ Estate matters such as trusts, wills, and probate require a certain level of trust between the beneficiaries and those responsible for handling the estate. When those responsible fail to meet their legal obligations, beneficiaries may suffer a financial loss or other harm. Luckily, beneficiaries may have legal recourse when this happens by speaking with a Denver breach of fiduciary duty attorney. Colorado Estate Matters, Ltd. helps those who find themselves in a position where a trustee or executor may have breached or violated their fiduciary duties. Because we represent either side – those who feel they’ve been wronged and those who are being accused – we have a more in-depth understanding of the nuances of Colorado probate law than other estate planning attorneys do. Regardless of the side of the coin you're on, we understand the delicate nature of these situations and will advocate for you and guide you through the process. Call (303) 713-9147 to schedule a free consultation today. What is a breach of fiduciary duty? In simple terms, a fiduciary duty is a legal obligation owed by one person (the "fiduciary") to another. It requires that the fiduciary acts with utmost good faith and loyalty towards the other person. A breach of fiduciary duty occurs when they fail to uphold this obligation. Duty When someone is appointed as a trustee or executor of an estate, they're entrusted to carry out various tasks on behalf of the estate’s beneficiaries. These may include collecting and transferring assets, recording transactions,... --- - Published: 2019-07-22 - Modified: 2024-03-29 - URL: https://www.coloradoestatematters.com/denver-trusts-will-contests-lawyer/claims-against-fiduciaries/ Colorado Estate Matters, Ltd. is a Denver-based law firm providing fiduciary litigation services for individuals and families on either side of a fiduciary litigation case throughout Colorado. Whether you need to hold a fiduciary accountable or you’ve been accused of breaching your fiduciary duties, our experienced Denver fiduciary litigation attorney and their team are committed to providing you with sound advice and representation throughout the process of resolving your fiduciary litigation dispute. To schedule your free consultation, contact us online or call (303) 713-9147. What is fiduciary litigation? Fiduciary duty exists in estate matters to ensure trust and faith for those managing the financial affairs of another. Fiduciary litigation occurs when a person or entity—like an executor of someone's will or a trustee of a trust—has failed to act in accordance with the duties assigned to them.   For example, a fiduciary may have neglected their duty to provide accurate information about the estate or acted dishonestly when distributing assets. The aim of a fiduciary litigation case is to seek accountability and compensation for beneficiaries who’ve been wronged. If the fiduciary has acted improperly, it may be possible to remove them from their position and force them to account for the assets in the estate. The person or entity who has suffered a financial loss due to a breach of fiduciary duty may also be entitled to pursue damages against the fiduciary which are to be paid by the fiduciary themselves — not from the estate. What are the different... --- - Published: 2019-07-22 - Modified: 2022-07-20 - URL: https://www.coloradoestatematters.com/privacy-policy/ This privacy policy applies to information collected online from users of this website. In this policy, you can learn what kind of information we collect, when and how we might use that information, how we protect the information, and the choices you have with respect to your personal information. What personal information is collected through this website and how is it used? We collect information about our users in three ways: directly from the user, from our Web server logs and through cookies. We use the information primarily to provide you with a personalized Internet experience that delivers the information, resources, and services that are most relevant and helpful to you. We don’t share any of the information you provide with others, unless we say so in this Privacy Policy, or when we believe in good faith that the law requires it. User-supplied information: If you fill out the contact form on this website, we will ask you to provide some personal information (such as e-mail address, name, phone number and state). We only require that you provide an e-mail address on the contact form. Further, if chat is available through this site, you may be asked to provide information if you participate in an online chat. Please do not submit any confidential, proprietary or sensitive personally identifiable information (e. g. Social Security Number; date of birth; drivers license number; or credit card, bank account or other financial information) (collectively, “Sensitive Information”). If you submit any Sensitive Information, you do... --- - Published: 2019-06-10 - Modified: 2024-11-25 - URL: https://www.coloradoestatematters.com/justin-w-blow/ Meet Owner Justin Blow Meet Justin W. Blow, the owner of Colorado Estate Matters, which he founded in January 2022. He dissolved his previous practice, Phillips & Blow, PC. , with the goal of creating a firm that values integrity, excellence, compassion, and acceptance. Justin envisioned a law firm that treats all clients and staff with respect, free from any form of discrimination based on religion, politics, or socio-economic status. Justin brings extensive experience to the table, having worked as a criminal trial lawyer, probate litigation attorney, and estate planner. He defended clients facing charges ranging from misdemeanors to murder and handled all aspects of Will and Trust disputes. Justin’s vast courtroom experience and legal acumen benefit his clients, and now he focuses on Estate Planning, Elder Law, Probate, and Guardianship/Conservatorship law. Before becoming a Denver estate planning attorney and probate lawyer, Justin worked as an investigator in the areas of Fraud Prevention, Criminal Defense, and Death-penalty Mitigation. His experience as an investigator enables him to locate witnesses and evidence that others may have missed, giving his clients an edge. Justin knows where to find relevant facts when the government or the opposition fails to provide them. Justin earned his Juris Doctorate from the University of Denver’s Sturm College of Law and his Bachelor of Arts in Philosophy and Psychology from Florida State University. He’s licensed to practice law in Colorado and Florida, as well as the U. S. District Courts for Colorado and the Middle and Northern Districts of Florida. When... --- --- ## Posts - Published: 2025-09-17 - Modified: 2025-09-17 - URL: https://www.coloradoestatematters.com/blog/what-is-fair-with-estate-planning-in-a-second-marriage/ - Categories: Estate Planning Estate planning for a second marriage can be complex, especially when balancing obligations to children from a previous marriage, financial support for an ex-spouse, and ensuring fairness to a new spouse. Updating your estate plan after marriage, divorce, or widowhood is essential to reflect your current wishes, including modifying beneficiaries and financial arrangements. Since Colorado has no set laws defining fairness in second-marriage estate planning, working with an experienced Denver estate planning lawyer can help you create a personalized plan that provides security and peace of mind for everyone involved. Challenges for estate planning in second marriages Couples in second marriages may have different goals for retirement planning, long-term care needs, and obligations to their respective children. If the couple has children from other relationships, plus shared children, the estate plan can become even more complex. Housing and ownership rights Housing and ownership rights are another challenge that couples in a second marriage face. If one spouse owned a home, then the second spouse moved in years, or even decades, after the purchase, determining who inherits the house may be tricky if the new spouse contributed to paying the mortgage or upkeep of the marital home. Colorado law has provisions for situations like these, but it often takes the help of an experienced estate planning attorney to complete it. Long-term care and retirement Long-term care and retirement planning are another challenge couples face when estate planning for a second marriage. It’s not unusual for the couple to have significantly imbalanced... --- - Published: 2025-07-02 - Modified: 2025-09-11 - URL: https://www.coloradoestatematters.com/blog/what-to-bring-to-your-first-estate-planning-meeting/ - Categories: Estate Planning When preparing for your first estate planning meeting with an attorney in Colorado, being well-organized can help make the process efficient and effective. Here's a comprehensive guide to what you should bring and prepare. Contact our Denver estate planning lawyers for assistance with all your estate planning needs. Essential documents and information Personal information Government-issued photo ID Social Security numbers for you and your immediate family members Contact information for any intended executors, trustees, guardians, or healthcare agents Family information, including names, birth dates, and addresses of your spouse, children, and other beneficiaries Financial assets Recent statements from all financial accounts (checking, savings, investment accounts, retirement plans) Information about real estate holdings, including deeds and property tax statements Life insurance policies with beneficiary designations Documentation for business interests, including operating agreements or corporate bylaws Vehicle titles Information about valuable personal property (art collections, jewelry, heirlooms) Digital asset inventory (cryptocurrency, online accounts, digital property) Existing estate documents Any existing wills, trusts, or powers of attorney Previous estate planning documents, even if outdated Prenuptial or postnuptial agreements Divorce decrees that may affect inheritance rights Debt information Mortgage statements Outstanding loan documents Credit card statements showing significant balances Any other substantial debts Colorado-specific considerations Colorado has particular laws that affect estate planning. Under the Colorado Probate Code (Title 15 of the Colorado Revised Statutes), several provisions are worth noting, including the following. Small estate procedures Colorado allows for simplified probate procedures for estates valued under $70,000 (C. R. S. § 15-12-1201), which might... --- - Published: 2025-03-30 - Modified: 2025-04-15 - URL: https://www.coloradoestatematters.com/blog/do-i-need-an-attorney-to-set-up-special-needs-trust/ - Categories: Estate Planning, Trusts If you have a child or loved one with special needs, setting up a special needs trust can be crucial to his or her future. A special needs trust can provide the financial stability to take care of a disabled or impaired family member after you pass away. Whether or not you need an attorney to set up a special needs trust in Denver, Colorado, depends on your specific situation. What Is a Special Needs Trust? A special needs trust is a fiduciary arrangement that is specifically designed for someone who has a disability. It allows a third party-a trustee–to hold, manage, and administer assets on behalf of the special needs individual (the beneficiary). Including a special needs trust in your estate plan can be critical if you have a child or someone else in your care with special needs. This type of trust, when created correctly, can pay for dozens of necessary expenses, including medical costs, nurses, live-in care, housing expenses, clothing, food, school, and much more. When Can You Set Up a Special Needs Trust On Your Own? Hiring an attorney is not a legal requirement for creating most special needs trusts. Doing it yourself might be an option for your family if you are creating a third-party trust or a pooled trust. If you wish to set up a first-party trust that uses the beneficiary’s own money, however, it is wise to hire an attorney. A third-party trust is funded from money that belongs to a third... --- - Published: 2025-03-25 - Modified: 2025-04-15 - URL: https://www.coloradoestatematters.com/blog/who-should-be-my-trustee/ - Categories: Probate, Estate, & Trust Administration, Trust Administration, Trusts The answer to this question is important to consider, as your choice of trustees can have significant impacts in the future. For instance, while a good trustee can ensure that assets are distributed according to your wishes (i. e. , the terms of the trust), an unethical or untrustworthy trustee may compromise the interests of your beneficiaries. They also may misuse the assets held by the trust or may make costly mistakes that end up having long-term impacts. To help you narrow down your choices in trustees, the following are some of the top qualities to look for when selecting someone to fulfill this role: Prudence – A discrete, thoughtful, prudent trustee can make sure that the terms of the trust, as well as the designated beneficiaries, are served appropriately. Additionally, prudence will be important to ensuring that a trustee is able to effective manage and administer the trust at every point, including (but not limited to) when it’s time to pay taxes on the trust’s income, when it’s time to distribute certain assets to beneficiaries, etc. Diligence – Trusts can be in place for years, requiring ongoing management and administration. With a diligent, organized trustee, you can be sure that nothing will be overlooked, mismanaged, or compromised during the life of the trust. Objectivity – Trustees are required to serve the interests of the trust and its beneficiaries, so you want to be sure you choose someone who can remain objective and who won’t decide to serve or promote... --- - Published: 2023-09-25 - Modified: 2024-04-19 - URL: https://www.coloradoestatematters.com/blog/how-often-should-i-update-my-estate-plan/ - Categories: Estate Planning Your estate plan is the crucial document set that dictates your wishes following your death. This set of documents should cover all your needs, from your financial assets and to whom they will belong to your health care and other wishes. However, life changes fast, and you may find that your estate plan is surprisingly outdated. So, how often should you update your estate plan? For an updated estate plan, contact a Denver estate planning attorney. They can help you gather the information you need and maintain your documents as soon as needed. Why should I update my estate plan? Many people think of estate planning as a single event. However, life changes quickly. You may find that you may have had several significant life events that change your needs in a few short years. If your estate plan is outdated at this point, that can leave your family struggling to meet your wishes, especially if your estate ends up in probate court. You may also want to act now to ensure that the right people get the assets you want them to have following your death. That can be important if you pass down a home, a prized heirloom, or a trust that could provide a security net for your family for many years to come. Because of this, keeping your estate plan as updated as possible is vital. But how often is this necessary? How often should I update my estate plan? Because estate plans can become outdated... --- - Published: 2022-03-25 - Modified: 2025-04-15 - URL: https://www.coloradoestatematters.com/blog/electronic-wills-and-trusts-in-colorado/ - Categories: Estate Planning, Trusts, Wills The COVID-19 pandemic led to a lot of changes in court systems and estate planning around the country, largely due to the inability of individuals to make in-person visits to courthouses. Several states, including Colorado, created new legislation to keep legal processes flowing during the pandemic with virtual solutions. One estate-planning innovation in Colorado is the Uniform Electronic Wills Act, which allows individuals to create wills and trusts electronically. Find out if this process is right for you. What Is the Colorado Uniform Electronic Wills Act? The Colorado Uniform Electronic Wills Act is a bill that passed in the 2021 regular session. It states that an electronic will is a will for all purposes of Colorado law. In other words, electronic wills and Trusts in CO will be viewed as a legally valid and binding will for all legal intents and purposes. The Act also specifies requirements for evoking, executing, attesting, and revoking electronic wills. These requirements include: Two witnesses must sign or acknowledge the electronic will in the physical or virtual presence of the testator. The testator must also sign. The witnesses who sign the electronic will must be U. S. residents and physically located in the U. S. when the will is signed. The electronic will must include a self-proving affidavit that is created in the physical presence of an authorized individual or the electronic presence of a notary public. The law makes it possible for wills to be created, signed, witnessed, and notarized electronically. It also allows... --- - Published: 2021-08-10 - Modified: 2024-04-05 - URL: https://www.coloradoestatematters.com/blog/ten-most-common-denver-estate-planning-mistakes/ - Categories: Asset Protection, Estate Planning, Powers of Attorney, Probate, Estate, & Trust Administration Planning your estate is an important undertaking, which is why you want to avoid making mistakes to prevent future hardships for your family after you are gone. Several common issues can easily occur if you do your estate planning haphazardly. The best way to properly undertake this important task is by hiring a Denver estate planning attorney to help you with your will and estate planning needs. An attorney can help you avoid these 10 top mistakes. Putting it Off By putting off an estate plan, you can do harm to your family. No one knows when their time will come. It is best to be prepared early to avoid being caught without a plan. If you don’t have an estate plan in place when you pass away, your estate may incur unwanted taxes and put your assets into probate for a court to decide the outcome of your estate. Protecting your hard-earned assets and beloved family members means planning ahead, before it's too late. Doing it Yourself It is critical to have your estate plan prepared by an attorney or another professional. While you may think that you are saving money by creating your own estate plan, failing to use the proper outlets for the preparation of your legal documents is a recipe for disaster that can ultimately cost your family thousands of dollars in mistakes and legal fees. Doing your estate planning yourself can open the plan up for contestation in the future, such as someone arguing the... --- - Published: 2020-10-08 - Modified: 2024-11-08 - URL: https://www.coloradoestatematters.com/blog/wills-trusts-dying-intestate-how-they-differ/ - Categories: Trusts, Wills Most people understand that having some sort of an estate plan is a good thing. However, many of us do not take the first steps to get that estate plan in place because we do not understand the nuances between a will and trust – and dying without either. Below our expert Denver will attorneys described what will generally happen if you die, intestate (without a will or trust), with a will, and with a revocable living trust (hereinafter trust). For this example, we are assuming you have two children, but no spouse: 1. Intestate If you die intestate, your accounts and property will go through probate and all the world will know what you owned, what you owed, and who got what. Your mortgage company, car loan company, and credit card companies will all seek payment on balances you owed at the time of your death. Keep in mind that since your death has been published to alert valid creditors, it is not uncommon for predators (fake creditors) to come forth and make demands for payment – even if they are not owed anything. After that, state law will decide who gets what and when. For example, if your only heirs are your two children and you have not provided any instructions, state law will mandate divvying up proceeds equally. (God forbid you have a live-in partner. Things can get real complicated with Colorado's common law marriage laws. ) Your older child will get their share immediately if they... --- - Published: 2020-02-20 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/6-major-assets-to-include-in-an-estate-plan/ - Categories: Asset Protection, Estate Planning What Assets Should Be Included in an Estate Plan? The first thing that may need to be done is to take inventory of your major assets. Understanding what these are can be important to appropriately preserve them for the future and your beneficiaries. For most people, the major assets to include in estate plans are: Cash and bank accounts – While cash can be directly designated to a beneficiary or used to fund a trust. Bank accounts (including personal checking and savings accounts) can be directly transferred to some beneficiary via “transfer-on-death” (TOD) or “payable-on-death” (POD) designations. Real estate and other personal property – The transfer of real estate can be complicated, particularly if the property is in another state or country. Working with an attorney to devise the right plan for the transfer of property can be essential to minimizing any liabilities or complications that could arise in the process. For personal property of significant value (such as jewelry, motor vehicles, art collections, etc. ), the options for this property are varied and can include directly designating it to particular beneficiaries (in which case it would likely have to pass through probate) or using it to fund a trust (which could avoid probate). Investments – These include stocks, bonds and other investment accounts you may have. Using TOD designations is generally the preferable way to transfer investment assets. It gives the beneficiary direct access to the asset because that asset will not have to pass through probate. Retirement accounts... --- - Published: 2018-06-12 - Modified: 2024-09-11 - URL: https://www.coloradoestatematters.com/blog/planning-for-your-babys-future-in-estate-planning/ - Categories: Asset Protection, Estate Planning, Powers of Attorney, Trusts, Wills In all the chaos of buying new clothes, constantly changing diapers and seemingly sleepless nights for months on end, you may not be thinking of establishing an estate plan. As a new parent the last thing on your radar is probably creating a will or planning your estate. But, if you don’t already have an estate plan, then this is exactly the time to do it. Because think of the ramifications should you or your spouse (or both of you) encounter an unthinkable accident that takes one of your lives at the worst possible time. Estate planning before or right after a birth is the most responsible thing you can do as a young parent. If you are a sibling, cousin or parent to new parents, you should encourage them to get their affairs in order. If for no other reason than to give the baby a smooth financial future where any part of your assets or estate get unnecessarily taxed or locked up in a costly probate matter. When starting out as new parents, everyone is bombarded with new tons of parenting duties. Estate planning should be one of them to ensure the financial well-being of not just your baby, but your spouse as well. The following are some basic aspects to consider for your estate plan. Thoughts on Drafting a Will Planning for Your Baby’s Future in Estate Planning? See a Denver Estate Planning Attorney at Colorado Estate Matters, Ltd. It’s important to find an experienced and knowledgeable... --- - Published: 2017-11-21 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/estate-planning-tools-for-your-babys-college/ - Categories: Estate Planning, Estate Taxes, Guardianships & Conservatorships, Powers of Attorney, Trusts Remember when your baby was just an infant and you thought he/or she would break like dropped china or porcelain? And then you saw them run right into a glass door and bounce off like a rubber ball and bounce back for more. It was probably back then that you first gave some forethought into getting yourself an insurance policy for their benefit or even an estate plan, in case something accidentally happened to you. But, like many well-laid plans, creating an estate plan or even a trust for the kids was put on the back burner. When is the right time to set a plan in place to take care of your children, so they are taken care of in the event something unexpectedly happens to you? Probably, right now so that you don’t put it off again. when later could be too late. Creating an Estate Plan with Trusts in Colorado for Your Kids Estate Planning Tools for Funding Your Baby’s College can be discussed with a Denver Estate Planning Attorney at Colorado Estate Matters, Ltd. Nearly everyone needs an estate plan to pass on their legacy, fortune and property to future generations. Here are some things an estate plan will guarantee for your kids: You can state a preferred guardian for your children. You can also name temporary guardians, which will enable you to time-share your children if one guardian is a busy person. That way there is a reliable backup to your primary appointed guardian. You... --- - Published: 2016-12-30 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/irs-reveals-2017-estate-and-gift-tax-limits/ - Categories: Estate Planning, Estate Taxes, Firm News The Internal Revenue Service (IRS) has announced the federal estate and gift tax limits for 2017, based on inflation. IRS Reveals 2017 Estate and Gift Tax Limits Here’s the breakdown of some of the most significant changes put in place for the coming year: Estate and gift tax exemptions for individuals are set at $5. 49 million. Estate and gift tax exemptions for married couples are set at $10. 98 million. The annual gift exclusion for 2017 is $14,000. To shed some more light on what these exemptions and exclusions mean and how you may be able to take advantage of them in estate planning. Our Denver estate planning lawyer has answered some common questions about estate taxes and gift taxes below. What Is Included In (& Excluded From) the Estate for Tax Purposes? For the purposes of calculating estate taxes in 2017, it is important to understand what assets are included in, versus excluded from the taxable estate. According to the IRS, the “Gross Estate” includes anything a decedent owned or had interest in at the time of death. This can include both probate and non-probate property like (but not necessarily limited to): Cash and securities Real estate holdings Insurance policies Assets held by trusts Annuities Business-related interests. In contrast, assets typically not included in the Gross Estate are those that are owned by a decedent’s spouse entirely, as well as “lifetime” gifts that are complete (i. e. , there are no outstanding powers or controls exerted over those... --- - Published: 2016-11-30 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/4-essential-documents-to-prevent-estate-planning-errors/ - Categories: Estate Planning, Powers of Attorney, Wills Four Essential Documents to Prevent Estate Planning Errors When you are ready to put an official estate plan in place to protect yourself and your family in the future, there can be a lot to consider, even if you don not have a sizable estate or a large family. To help you get started on the right path, the following points out the handful of documents that should form the basis of your estate plan (if you are serious about having a comprehensive, valid estate plan). This can help you avoid some big mistakes in the future while effectively preserving your legacy and protecting your loved ones. 1. The Will The will is typically the cornerstone of an estate plan because it basically explains your exact wishes for transferring your assets to your surviving loved ones (or other parties). Other things your will can do include (but are not necessarily limited to): Naming your preferred executor, as well as back-up choices (should your top choice be unavailable when the time comes) Designating guardians for any children Designating a caretaker for pets Naming (or specifically excluding) beneficiaries Explaining whether a Letter of Instructions has been left behind. 2. Letter of Instructions Though not a legal document per se, the Letter of Instructions can be a crucial part of an estate plan because it can specify your wishes for how you want to be laid to rest. In particular, this document can explain whether you prefer to be cremated or buried, your... --- - Published: 2016-11-04 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/do-i-need-an-ethical-will/ - Categories: Estate Planning, Wills Ethical Wills: What, Why & How? As opposed to a traditional will that bequeaths assets to loved ones, an ethical will is a personal statement not a legal document that sets forth values or shares stories and experiences. Also commonly referred to as legacy letters, ethical wills can be invaluable for surviving loved ones following death because these documents can: Provide explanations of why certain decisions were made or why specific actions were taken in the will (and/or as part of the overall estate plan) Share blessings, love and support with heirs and subsequent generations Serve as a mechanism for telling stories, sharing family histories or establishing legacies Provide loved ones with a sense of comfort and closure following a death. Topics to Cover in Ethical Wills Like wills (and other estate planning devices), an ethical will can cover a number of different topics, and it can be tailored to serve your needs, wishes and goals. Some of the specifics that can (but do not necessarily have to be) covered in an ethical will include: Lessons, advice and anecdotes you’ve learned, want to share or have experienced Personal beliefs and statements of faith Family stories, histories and legacies Apology statements Explanations about why certain assets were given to certain heirs. Essentially, ethical wills can share deeper insights about you, your choices, your beliefs, and your legacy. Ethical Wills: How to Get Started? The personal nature of ethical wills means that there is no cookie-cutter method of devising these documents. This... --- - Published: 2016-08-28 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/6-hidden-costs-of-administering-a-will/ - Categories: Asset Protection, Creditors and Probate, Probate, Estate, & Trust Administration, Trust & Will Contests, Wills Six Hidden Costs of Administering a Will When it is time to settle an estate and administer a will, there may be some obvious costs like court filing fees and estate taxes that will need to be covered as you proceed. Those may not be the only costs, as there are common other, less obvious costs that can arise in the process. Being aware of what these costs tend to be can help you plan appropriately as you move forward to settle an estate. And that, in turn, can be the key to administering a will as efficiently (and cost-effectively) as possible. Talk to a Denver estate planning attorney as soon as possible. How (& When) Hidden Costs Can Arise When Administering a Will? Some of the circumstances that can make it more expensive to administer a will include when (and are by no means limited to): A decedent owns property in other states – This can end up meaning that probate will have to be opened up in these other states (if the value of the property is over a certain amount and/or certain plans haven’t been put in place to help avoid probate). Two (or more) probate cases for a given estate can exponentially increase the costs of administering a will, likely taking away from the assets available for the designated beneficiaries. A decedent failed to keep the will up-to-date – Outdated wills can be challenging to administer because they may not include (or set forth plans for)... --- - Published: 2016-08-09 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/how-does-estate-planning-work/ - Categories: Estate Planning, Powers of Attorney, Trusts, Wills How does estate planning work? Estate planning is essentially the process of detailing your future wishes for yourself, your estate and your family. By taking the time now to put an effective, valid estate plan in place, you can be assured that you and your loved ones will be financially protected regardless of what tomorrow may hold. When it comes to estate planning, there are various options and devices that can be incorporated, based on your specific situation, your concerns and your wishes. To help you get oriented and start figuring out what may be the best options for you and your family below. We have outlined some of the most basic features of estate plans. Estate Planning 101: The Fundamental Components Although estate plans can be tailored to fit your specific needs and circumstances, in general, the fundamental elements of estate plans tend to include: The will – As the cornerstone of most estate plans, the will details who gets what after you pass away. The “what” here will be any property that you own solely (i. e. , not jointly held property, property owned by a trust, etc. ). The will can also set up trusts for certain assets, including life insurance proceeds. Without a will, the assets you own solely will be subject to Colorado intestacy laws, which may not distribute the assets according to your wishes. Powers of attorney – These devices allow you to appoint an agent to oversee your financial and/or medical affairs in... --- - Published: 2016-07-24 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/when-should-i-start-estate-planning/ - Categories: Asset Protection, Estate Planning Why it is important for all adults to start estate planning sooner, rather than later? The sooner you start the estate planning process, the better. This is because a comprehensive, current estate plan can go a long way to protecting you and your family, as well as preserving your legacy and estate. Clarifying this answer, below, we have revealed some of the most common (and costly) complications that can arise when people put off estate planning. Dangers of Putting off Estate Planning Some of the biggest dangers and problems that can arise if you delay estate planning include (and are by no means limited to) the possibilities that: Your loved ones would not receive as much of your assets as you intended – This is because, without an estate plan in place, it is far more likely that your loved ones will be paying more to probate the case and settle the estate taxes. It can also mean that more of the estate’s holdings are available to pay creditors. Ultimately, this can meant that only a fraction of an estate ends up remaining (once probate costs, estate taxes and creditors have been paid) for the surviving loved ones. It can take far longer for your loved ones to obtain any remaining assets – When no will has been left behind, an estate will likely need to pass through probate. And that means that any assets held by the estate will not be accessible to the beneficiaries until the probate process... --- - Published: 2016-07-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/trusts-taxes-faqs-about-tax-obligations-for-trusts-trustees/ - Categories: Estate Taxes, Trust Administration, Trusts Trusts & Taxes: FAQs Taxation for trusts can be complicated, as there are special rules in place for filing and paying for trust-related taxes (as opposed to personal or business taxes). Understanding the obligations and requirements for the taxes related to trusts is important to properly managing and administering trusts and to avoiding future complications, like problems with the IRS or allegations of breaching your fiduciary duties. Revealing more about these tax obligations, the following presents some important answers to frequently asked questions about trusts and taxes. Although the answers provided herein are general, you can easily receive answers and info specific to your circumstances by contacting a Denver estate attorney at Colorado Estate Matters, Ltd. Important Answers about Taxes for Trusts Q – I have set up a revocable living trust. Do I have to pay taxes on this trust? A – Yes. In fact, if you will maintain control of this trust during your lifetime, the IRS views any property held by this trust to still be under your ownership. Consequently, you will still be obligated to pay taxes on the assets and/or property held by the revocable trust, with the same obligations applying as those that would come into play had the property not been transferred into the trust. Here, it is also important to note that any income received by the living trust will also be subject to taxes. Q – What if the trustee of my living trust is someone other than me? A –... --- - Published: 2016-07-06 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/can-i-include-my-pets-in-my-estate-plan/ - Categories: Estate Planning, Trusts Pets can be wonderful companions and may even be considered to be members of the family for some people. Although pets are technically considered to be ‘property’ in the realm of estate planning, there are a number of ways that you can protect and ensure future care of your pets in your estate plan. How to Include Your Pets in Your Estate Plan & What to Consider When Doing So? How to Include Your Pets in Your Estate Plan? When it comes to including your pet(s) in your estate plan, here are the specific devices that can be used: Your will – A will is really the most basic way to plan for pets (as the will can set forth details about all of your property, including your pet). Keep in mind while a will can explain who is to get which pet(s) after you pass away, any instructions provided in the will (regarding your pets) are not legally enforceable. In other words, when it comes to your pet(s), the only legally enforceable aspect of your will is designating a beneficiary to receive your pet(s). A trust for your pet – Pet trusts can provide far more provisions than wills can, and they can be enacted during your life time (and come into play if or when an accident or some other even renders you incapacitated). A pet protection agreement – This is another device that can be used to provide detailed instructions regarding the guardianship, care, etc. for pet(s)... --- - Published: 2016-04-30 - Modified: 2024-06-07 - URL: https://www.coloradoestatematters.com/blog/colorado-probate-101-what-are-small-estates/ - Categories: Estate Planning, Probate, Estate, & Trust Administration, Trust Administration, Trusts How Colorado laws define small estates? Small estates, according to Colorado law, are estates that are not exclusive to real estate assets and that are valued at less than $64,000. Contact us to get details on what can be included in the $64,000 worth of assets. When estates qualify as being “small” in the eyes of the law, the assets held by that estate can generally be transferred to the beneficiaries via a small estate affidavit. In other words, a complicated probate process will not typically be necessary to settle small estates in Colorado. Understanding this can be important to making the right plans now to minimize your loved one’s future costs and stresses especially if you want to help them avoid probate altogether. Speak with our Denver estate planning lawyer for more information with a free consultation. How to Reduce the Size of Your Estate? If your estate’s holdings are valued at more than $64,000, there are some things you can do to see if your estate qualifies as “small,” including (but not limited to): Using “payable-on-death” designations – For assets like bank account and retirement account holdings, naming a beneficiary via the payable-on-death (POD) or transferable-upon-death (TOD) designations is one way to reduce the assets held by your estate. In fact, by using PODs/TODs, you can make sure that certain loved ones have immediate access to these funds/assets, effectively preventing them from having to pass through probate (as there will not be a need to validate or oversee... --- - Published: 2016-04-18 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/how-do-colorado-laws-limit-my-choice-for-executors/ - Categories: Estate Planning, Firm News How Does Colorado Laws Limit the Choice for Executors? Part of developing an estate plan will involve naming an executor (or personal representative) to administer the plans in the future. Understanding the specific requirements for executors, as set forth by Colorado laws, will be important to naming appropriate choices and to minimize your loved one’s future stresses as they carry out your estate plan in the future. To elucidate these requirements and the Colorado laws pertaining to them, below we have answered some of the most commonly asked questions about executor requirements in Colorado. FAQs about the Requirements for Executors in Colorado Q – What are the most fundamental requirements for executors in Colorado? A – On the most basic level, executors in Colorado are legally required to be: At least 18 years old Of sound mind. Although some states prohibit convicted felons from serving as executors, Colorado laws currently do not include this restriction. Q – Can I name an executor who lives out of state? A – Yes, as Colorado laws do not have restrictions on where executors have to live. However, it should be noted that executors typically have to deal with a series of affairs following a death and that, oftentimes, this means having to conduct various business in the city/state of the decedent. That can mean that, generally, it is advisable to appoint an executor who lives close to you, who may be familiar with your affairs, and who is willing/able to deal with the... --- - Published: 2016-04-06 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/estate-planning-101-4-tips-for-maintaining-organizing-storing-your-estate-plan/ - Categories: Estate Planning Four Tips for Maintaining, Organizing & Storing Your Estate Plan Having a comprehensive estate plan is important to protecting your family and legacy. Once you have developed an estate plan keeping certain documents and staying organized can be essential to preserving your wishes for the future and to preventing your loved ones from experiencing unnecessary stress when it’s time to carry out your plans. To that end, the following are some tips for how to maintain, organize and manage your estate planning documents once you have developed a plan: Keep all of your estate planning documents in one location – These documents can include (but may not be limited to) funeral & burial plans, the will, trust documents, powers of attorney, financial & ownership documents, etc. What can also be helpful is creating a “master” list that details each of the documents that comprises your estate plan (so that anyone who may be looking for the plan in the future is aware of the each of the documents you have developed as part of the plan). Make copies – In other words, create some redundancy in case the originals get misplaced, damaged or destroyed somehow. While you can create physical copies of your estate plan, it can also be beneficial to have the duplicates be electronic files. Regardless of the nature of the copies you make, it is best to keep these copies in a location that is different from the originals, with some possibilities being to retain them in... --- - Published: 2016-03-21 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/essential-checklist-for-estate-executors/ - Categories: Probate, Estate, & Trust Administration, Wills Essential Checklist for Estate Executors The death of a loved one can be a great loss. For those who are named as executors of the estate however, the death can mean that it’s time to get to work carrying out the loved one’s final wishes and getting the estate settled. Because there can be a lot to do after a loved one passes away, the following is a helpful checklist executors can use to get started. For professional advice and/or experienced help along the way, don’t hesitate to contact a trusted Denver estate planning lawyer at Colorado Estate Matters, Ltd. Inform the loved ones of the death – And consider delegating at least part of this responsibility to other family members, if possible, so you can move on with your check list. Make immediate arrangements for any children and/or pets left behind – If the death has resulted in minor children and/or pets being left without any guardianship or care for the interim, make plans to have both of these parties cared for temporarily until the decedent’s wishes can be determined and carried out. Locate the funeral plans and/or will – First and foremost, look for funeral and burial plans so you can start taking action to have those carried out. Then, track down the will. If the decedent never specifically informed you about where to locate these documents, some places to start looking can include (but may not be limited to): A safe or safety deposit box Computer/electronic files... --- - Published: 2016-02-29 - Modified: 2024-05-08 - URL: https://www.coloradoestatematters.com/blog/4-essential-estate-planning-tips-for-those-under-35/ - Categories: Estate Planning, Powers of Attorney Four Important estate planning tips for people under 35 Getting your finances in order can be essential to being prepared for life’s changes. While building savings and retirement accounts can be part of this process, so too is estate planning. For those who are under 35 and who may just be starting to focus on their financial futures, the following are some important estate planning tips to help them dive into the process: Start with the basics – At the most basic level, an estate plan should include a will, detailing how assets will be distributed upon the death of the grantor (i. e. , the person who has devised the will and estate plan). Because wills do not cover all estate planning needs, it will also be important to take the next step. Plan for the worst – In other words, estate planning is not just about death or planning for loved ones after you are gone. It can also be about setting up some protections for yourself in the event you become incapacitated in the future. And that specifically involves setting up medical and/or financial powers of attorney, which can endow certain people with the authority to make important medical and/financial decisions on your behalf if you are unable to do so for any reason in the future (such as developing a debilitating ailment, being in an accident, etc. ). Don’t forget to consult a lawyer – An attorney can work with you closely to understand your situation,... --- - Published: 2016-02-18 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/how-to-start-estate-planning-7-steps/ - Categories: Estate Planning, Powers of Attorney How to Start Estate Planning? Estate planning can be the key to preserving your legacy and protecting your loved ones in the future. Although there can be a lot to think about when it is time to put a formal estate plan in place, the following are the main considerations and steps to take when you are ready to develop an estate plan: Create an overview of your financial situation – This involves developing an inventory of your assets and/or debts to devise a portrait of your estate’s holdings and/or liabilities. The more complete and detailed this inventory is, the better you can plan for your estate and its assets moving forward. Among the assets to include in your estate inventory include (but may not be limited to): Cash and bank account holdings Real estate and personal items (e. g. , jewelry, art collections, etc. ) Business interests Stocks and bonds Retirement accounts and other investment accounts Life insurance policies. List your beneficiaries – This list should include all of the people (e. g. , children, spouses and other loved ones) and entities (e. g. , charities, education institutions and/or business entities) to whom you wish you give some asset to in the future. Creating this list of specific beneficiaries can be helpful in determining the best methods of transferring assets to them later. Consider your options for a personal representative and/or executor – In other words, who do you trust to oversee your estate, administer your will and/or handle... --- - Published: 2016-02-06 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/3-reasons-to-be-weary-of-online-diy-trusts/ - Categories: Estate Planning, Trusts The risks of doing online DIY trusts could make it difficult once you pass if it is not done by an experienced attorney. If you want it done right, it should be done right the first time by an experienced lawyer. The internet puts a world of information and opportunities for action at our fingertips. In the estate planning realm, this can mean that internet users may be able to develop trusts (and other estate planning documents) online. While these online, do-it-yourself (DIY) legal services may seem appealing in terms of cost and the ease of getting the task completed, however, there can be some big risks involved. And understanding what these risks are can help you make the right decisions when it’s time to formalize your estate plan to protect your legacy and loved ones. Risks of Online DIY Trusts The main reason that online DIY trusts are so risky is that these documents are usually developed from generic forms (in order to be widely applicable and to try to limit the room for user error). While relying on a generic form to develop a trust may seem harmless, the facts of the matter are that these online trust documents will: NOT account for your specific or unique circumstances or needs – Do you have a child or loved one with special needs? Are you a business owner? What are your specific goals in developing a trust? Understanding these factors (and others) can be integral to choosing the right... --- - Published: 2016-01-24 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/how-to-choose-an-executor-or-personal-representative-for-an-estate/ - Categories: Estate Planning, Estate Taxes How to Choose an Executor or Personal Representative for an Estate? A central part of estate planning can be selecting the right executor and/or personal representative to carry out your wishes in the future. While you may have some ideas of who to appoint to these positions, below are some specific tips to keep in mind when making these selections to ensure you choose the best person (or people) to fulfill these roles. Selecting Executors & Personal Representatives When it comes to choosing the best person to serve as your executor or personal representative down the line, it’s generally best to select someone who: Is responsible and organized – The executorship role (as well as the role of personal representative) comes with a lot of responsibilities, including some time-sensitive duties, like notifying beneficiaries of probate proceedings, notifying creditors of the death, handling creditors’ claims, covering the estate tax obligations, etc. To effectively manage and meet all of these responsibilities, the executor will need to be organized and highly competent at multi-tasking. Without these qualities, it is far more likely that mistakes will be made during the estate administration process and that an estate may incur additional liabilities. Is reliable and trustworthy – An executor will also need to be someone who can be trusted to set aside his own interests and promote the best interests of the estate and all associated beneficiaries. If an unreliable and untrustworthy person ends up filling this role, it’s far more likely that an estate... --- - Published: 2016-01-12 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/agents-under-powers-of-attorney-4-important-facts-to-know/ - Categories: Powers of Attorney Four Important Facts for Agents under Powers of Attorney Agents, also referred to as attorneys-in-fact, have some important responsibilities and powers. Although the specifics of these duties and the extent of their power will vary from situation to situation, in general, the following are among the most important facts to understand about this role. The Facts about Holding Powers of Attorney The power of attorney document will dictate the specifics – Namely, the power of attorney document will detail when the agent is to assume his or her powers or duties, as well as what the extent of these duties are. While powers of attorney can be very limited (only allowing agents to make certain decisions about another’s medical or financial needs), they can also be devised to be far-reaching, depending on the needs and wishes of the individual devising the power of attorney. Agents are fiduciaries – And fiduciaries are people who hold a legal obligation to provide fair, unbiased service to some other party (usually with respect to financial issues or decisions). This essentially means that agents have a legal duty to set aside their own interests and act in the best interests of the party for whom the power of attorney has been devised. It also means that, if the agent fails to meet these obligations, (s)he can be held personally liable (i. e. , (s)he can be sued). There can be multiple agents – Depending on the needs and wishes of the person devising a power... --- - Published: 2015-12-31 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/4-reasons-to-resolve-to-develop-an-estate-plan-in-2016/ - Categories: Estate Planning Four Reasons to Resolve to Develop an Estate Plan The New Year is a time for resolutions. For many people, this can mean prioritizing certain personal and financial changes for the New Year. While those resolutions can be great goals, here is why it is also time to include estate planning as a focus for the coming year. Why to Focus on Estate Planning in the New Year? Some of the main reasons why having an effective estate plan in place is so important include that it can: Protect your minor children – If you have minor children, formalizing plans for their care in the event of your (and/or the other parent’s) death or incapacitation is important. Without formal plans in place, decisions about their future care may be left up to the court and the outcomes of these decisions may be far from your wishes. Protect your legacy and yourself – Do you own interests in a business? If so, estate planning can help you pass on these interests and protect the investment for generations to come. Even if you do not own a business, estate planning can be critical to formalizing plans for your wishes should you become incapacitated. These plans can provide powers of attorney, end-of-life directives and other crucial elements that can ease your loved one’s stresses during difficult times while ensuring your wishes are carried out. Minimize your loved one’s future liabilities – Do you owe a significant amount of debt? Or are you concerned... --- - Published: 2015-12-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/survivors-checklist-6-immediate-steps-to-take-after-a-death/ - Categories: Firm News The death of a loved one can turn your world upside down. While grief can be overwhelming, if one person is ready to take action to prepare the estate for settlement, the following process of transferring the estate to the heirs can be resolved more efficiently. What to Do Following a Death? Take care of any immediate household needs – If the decedent had minor children or pets, make plans to have them cared for. For other house-related needs, like bills or ongoing maintenance, develop a plan for covering these necessities for the coming week or two. Essentially, you will need to make sure the day-to-day needs for the household will be covered while you work out the next steps for settling the estate. Contact the surviving relatives – Call the decedent’s close relatives and loved ones to inform them of the death. A helpful way to get the message out quickly can be to set up a phone tree, splitting up the list of calls between a few close relatives so that you are free to continue working on the next steps that will need to be taken. Locate the estate planning documents – Look for the will, any funeral or burial directives and any other estate planning documents the decedent may have left behind. While you may be able to locate these documents in the decedent’s safe or safety deposit box, here are some more tips for how to locate estate planning documents after a death. Notify the... --- - Published: 2015-12-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/how-does-portability-affect-estate-taxes/ - Categories: Estate Planning, Estate Taxes A Denver estate planning lawyer discusses how portability for federal estate taxes can help reduce tax obligations. Since 2011 in the U. S. , married couples have been able to take advantage of portability for federal estate tax purposes, allowing them to share certain unused exemptions and save on their overall estate tax obligations. Although portability is not an option for state-level estate taxes in Colorado (as of Dec. 2015), understanding how and when it can apply to federal estate tax obligations can be incredibly important to limiting future tax bills and preserving an estate for survivors. What is Portability? Portability of the federal estate tax exemption is a provision by which the unused portion of a decedent’s exemption can be applied to the surviving spouse’s estate upon his or her death. When portability comes into play, the unused exemption from the first spouse who passed away will be added to the total exemption for the second spouse who passes away, effectively increasing the federal estate tax exemption that can be used upon the death of the second spouse. When used strategically, portability can help minimize if not eliminate certain federal estate tax obligations for beneficiaries. An Example: To elucidate the concept of portability and how it works, here is an example: Let’s say married couple, Bob and Pam, jointly own all of the assets of an estate worth that is worth $4 million and that Bob passes away first. Since the assets are all jointly owned, they will be... --- - Published: 2015-11-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/how-often-should-i-update-my-will/ - Categories: Estate Planning, Wills A Denver estate planning attorney explains when wills and estate plans should be updated. It depends on the nature of your estate, as well as your life circumstances. We will delve into this answer more below. When to Update a Will & Estate Plan? In general, it’s recommended that people review and update their wills, as needed and their overall estate plans every one to three years. It is also strongly advised that estate plan reviews and updates occur when: Major family changes happen – These types of changes can include the birth or adoption of a new child, a marriage or divorce, a death, and even the development of an illness or disability (for either the grantor or one of the beneficiaries). Updating estate plans as families evolve can be key to providing for those who are important to you (or possibly removing those who are no longer around for whatever reason). Significant aspects of an estate change – Such changes may include buying a new home or property, starting a new business or experiencing a significant increase/decrease in the value of certain investments. These chances may also include selling property and dissolving or selling a business. Making sure that the assets included in the estate plan are up-to-date can be critical to helping your loved ones retain more of these assets later (by, for instance, putting plans in place to help avoid probate). Certain federal and/or state laws change – As legislators update federal and/or state laws regarding... --- - Published: 2015-11-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/4-estate-planning-mistakes-that-can-cost-your-loved-ones-later/ - Categories: Estate Planning, Powers of Attorney, Wills The right estate plan can preserve your wishes for the future while protecting your loved ones’ interests and possibly even minimizing the need for probate. Of course, the “right” estate plan can vary from situation to situation, depending on the details of an estate (among other things). That being stated the following are among the more common estate planning mistakes that tend to impact the efficacy and protections of these plans. Don’t Make these Estate Planning Mistakes Avoiding these estate planning mistakes can help you preserve your interests while protecting your loved ones in the future, a Denver estate attorney from Colorado Estate Matters, Ltd. can explain. Hinging an entire estate plan on a will alone – Wills can be the backbones of estate plans, but they are limited in scope, meaning they do not cover all situations or estate planning needs. In fact, a will is not going to provide details about what should happen if, instead of passing away, you end up incapacitated or in a coma. As a result, it’s best to build up the backbone of the estate plan (i. e. , the will) with other essential components, such as powers of attorney. Never updating a will after it has been executed – An outdated will can be as problematic as the lack of a will for an estate. That is because outdated wills can identify personal representatives or beneficiaries who have passed away (or who are estranged); they can name assets no longer owned by... --- - Published: 2015-10-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/4-myths-about-colorado-probate-dispelled/ - Categories: Creditors and Probate, Firm News, Probate, Estate, & Trust Administration Don’t believe these myths about Colorado probate, a Denver probate attorney explains. Get the facts so you know how to preserve your interests in probate. Probate in Colorado can be an involved process that, even for more modest estates, can take six months or longer to resolve. While many people are aware that probate can be complicated and costly, however, there are a lot of misconceptions out there about this process and some of these falsities can mislead people into making costly mistakes that could end up increasing the challenges of a future probate case. To prevent these probate myths from misguiding you or someone you love, below are the facts behind some of the more prominent misconceptions about Colorado probate. The Facts about Colorado Probate Myth 1: "My loved ones won’t need to go through probate because I have a valid will. " Fact: Wrong! Simply having a will in place does not necessarily mean that probate can be avoided. That is because any asset that does not already have a specific “transfer-upon-death” or “payable-on-death” designation will have to pass through probate as part of the process of validating the will/settling the estate. So, if you really want to help loved ones avoid probate in the future, more than a will is likely going to be necessary (depending, of course, on the nature of your estate). Myth 2: "There’s not really anything I can do to reduce my loved one’s future probate obligations. " Fact: Wrong again! There may... --- - Published: 2015-10-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/5-warning-signs-of-breach-of-fiduciary-duties/ - Categories: Breach of Fiduciary Duty "Know the warning signs of breach of fiduciary duty so you know when to take action & hold negligent fiduciaries accountable," notes an estate planning lawyer in Denver. Fiduciaries, including personal representatives and the executors of wills, are bound to act with a certain level of care and prudence when it comes to administering a will or an estate following a death. Unfortunately fiduciaries may not always advance the interests of an estate over their own interests, potentially causing them to breach their fiduciary duties and incur some personal liability. For beneficiaries, understanding how and when fiduciaries can breach their duties can be integral to knowing when to take action and hold these people accountable. To this end, below are some of the more common indications of breach of fiduciary duties. A Fiduciary May Have Breached His Duties If or When... Estate assets seem to have gone missing without a clear explanation – Fiduciaries are required to keep detailed, accurate and up-to-date records regarding an estate’s assets, including all real and liquid property held by that estate. So, if some of the assets of the estate seem to have disappeared and the fiduciary does not have a clear, reasonable explanation for what happened to these assets, start asking more questions and doing some further investigating. There is no clear accounting for the transactions of the estate – Just as fiduciaries are required to keep detailed records regarding an estate’s assets, they are also obligated to account for all funds coming... --- - Published: 2015-10-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/how-to-select-an-estate-planning-lawyer-4-things-to-look-for/ - Categories: Estate Planning When you want to choose the right and best Denver estate planning lawyer to help you put an effective estate plan in place, here is what to look for, our Denver estate attorney can explain. When you are ready to put an estate plan in place, one of the first steps to take can be finding the right lawyer to help you. With so many choices for legal professionals out there knowing who you can rely on can be challenging. To help you get on the right path and discern who may be better choices for estate planning assistance, below are some of the most important things to look for in lawyers who you may retain. If, however, you do not have time to carefully screen a number of options for estate planning legal services, you can always count on a seasoned and trusted Denver estate attorney at Colorado Estate Matters, Ltd. What to Look for When Choosing an Estate Attorney? Extensive estate planning experience – It is going to be in your best interests to select an estate lawyer who has years (if not decades) of experience devising and administering estate plans. Such experience can provide invaluable insight when it comes to developing estate planning solutions that meet your needs and goals, as well as the specifics of your situation. A practice primarily focused on estate planning – Just because a lawyer has been developing estate plans for years does not necessarily mean that the professional is primarily focused... --- - Published: 2015-09-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/4-estate-planning-basics-what-everyone-should-know-when-developing-an-estate-plan/ - Categories: Estate Planning, Powers of Attorney, Trusts, Wills Estate planning is not just about figuring out what will happen to your assets after you pass. It is also about setting up protections for you and your loved ones. In fact, a comprehensive, effective estate plan can save a significant amount of stress, grief and money in the future. As you start to develop an estate plan, think about the basics below. Then, contact us for help taking the next steps to formalize your plan so that you can achieve your estate planning goals. Estate Planning 101: How to Start Crafting Your Estate Plan? 1 – Figure out your goals. Getting ready to start estate planning? Here are the basics you need to know. Our Denver estate planning lawyer will explain it. Contact us when you are ready to take the next steps in understanding and seeing what kind of estate plan will work for you and your family. Do you have minor children you want to make sure are protected in the future? Or do you have loved ones with special needs? Maybe you are more concerned about helping your loved ones minimize their future probate obligations? Whatever your goals may be for your estate plan, pinpointing them upfront is a good move because it can help you figure out the additional features you may need to put in place, aside from some of the basics. 2 – Then focus on your will. A will is fundamental to estate planning and is typically the best place to start... --- - Published: 2015-09-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/4-helpful-tips-for-executors-personal-representatives-who-are-settling-an-estate/ - Categories: Breach of Fiduciary Duty, Estate Planning, Probate, Estate, & Trust Administration The process of settling an estate can be long, complicated and at times, contentious. While there can be a lot to do to settle an estate in the months following the death of a loved one. It is important to keep the following tips in mind can help those in charge, namely executors and personal representatives: Properly administer estates Minimize the liability they face when doing so Settle estates as efficiently as possible. Important Info for Executors & Personal Representatives Tip 1 – Know the deadlines you will be facing. These tips can help executors & personal representatives carry out the estate settlement process with minimal hassle, a Denver estate & probate attorney explains below. There are a lot of strict deadlines in the Colorado probate process, starting with the deadlines for notifying beneficiaries and potential creditors regarding the death. Other deadlines that are associated with settling estates include those for paying estate taxes, submitting reports to the court, etc. Missing these deadlines can end up complicating the probate process. It may even end up putting executors or personal representatives in hot water with the court. Tip 2 – Make sure you understand your fiduciary duties. As an executor or personal representative, you will be considered to be a fiduciary, which means that: You have some specific duties that you will have to fulfill moving forward – Specifically, your fiduciary duties will include (but aren’t limited to) dealing with all interested parties in an unbiased manner and not stealing from/compromising... --- - Published: 2015-08-27 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/pros-cons-of-living-trusts-what-you-should-know/ - Categories: Trust Administration, Trusts Living trusts can be powerful estate planning tools that can offer a lot of benefits to trustmakers (or grantors), as well as their beneficiaries. However, living trusts are not for everyone. There may be some drawbacks to developing them in some cases. Below, we will explore the pros and cons of living trusts more closely. When you need help determining if a living trust is right for you or you want experienced assistance devising the best estate planning solutions for you and your family, contact a trusted Denver estate litigation lawyer at Colorado Estate Matters, Ltd. Pros of Developing Living Trusts While living trusts can have various benefits, there can be some downsides to them in some cases, a Denver estate attorney at Colorado Estate Matters, Ltd. can explain. Some of the advantages of living trusts can include (but may not be limited to) that they can: Be revised or changed – As long as the grantor is still alive and of sound mind, (s)he can alter the terms of a living trust. This can be very advantageous for those who want to maintain control over the trust, who may want to add beneficiaries (like new children) in the future, etc. Help beneficiaries avoid probate – Any assets transferred into the living trust (i. e. , held by the trust) will not have to pass through probate upon the grantor’s death (at which time living trusts become irrevocable trusts). If a grantor has been diligent about transferring all of his... --- - Published: 2015-08-19 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/your-go-to-estate-planning-glossary-key-estate-planning-terms-defined/ - Categories: Estate Planning, Powers of Attorney, Probate, Estate, & Trust Administration, Trusts, Wills Estate planning and probate can be involved processes. For those who are just getting started with either of them, knowing some fundamental terms can be a good place to start, as it can begin to familiarize people with the key terms they will likely be hearing and needing to understand as they move forward. To this end, below is a helpful glossary to reference as you prepare to start the estate planning or probate process. When you need experienced help with an estate plan or probate, however, contact a seasoned Denver estate & probate attorney at Colorado Estate Matters, Ltd. Clear Definitions of Fundamental Estate Planning & Probate Terms Understanding the definitions of these fundamental estate planning terms can help you as you get started with estate planning or probate, a Denver estate & probate attorney explains. Administrator – The court-appointed person or fiduciary who oversees the estate administration process if there is no executor or personal representative for an estate (because none has been named in a will or none of the designated parties wishes to serve in this position) Attorney-in-fact – The person who holds a power of attorney to make financial and/or medical decisions on behalf of someone else; may also be referred to as an “agent” Beneficiary – A person who has been named in a will (or other estate planning document) to inherit some asset Conservator – A court-appointed person who oversees the finances (or other matters) of an incapacitated person Fiduciary – A person... --- - Published: 2015-08-10 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/4-costly-probate-mistakes-to-avoid/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration Although probate can be a lengthy, involved process, making mistakes during it can end up complicating it further, potentially increasing both the duration and costs of the process. For personal representatives, it can also mean that they are held personally liable for their mistakes, as they could be sued, depending on the nature of the mistake. To help you avoid such complications and unnecessary costs, below, we will point out some common mistakes to avoid making when you are a personal representative in probate. These Missteps Will Cost You in Colorado Probate 1 – Waiting too long to open probate for an estate Avoiding these probate mistakes is essential to not complicating or increasing the costs of the process, a Denver estate & probate attorney explains. While there can be a lot to take care of after a loved one passes, putting off opening a probate case is not something you want to do. This is because the longer you end up waiting to open probate, the more likely it is that: The taxes for an estate will increase. Creditors for an estate may start piling up. Beneficiaries may become more anxious and more difficult to deal with. This can end up making probate more complex, expensive and possibly more adversarial. 2 – Inappropriately dealing with an estate’s creditors This mistake can manifest in various ways, such as: Failing to properly notify creditors of the death Paying fraudulent debt claims Not paying legitimate debt claims Paying some creditors but not... --- - Published: 2015-07-20 - Modified: 2024-05-06 - URL: https://www.coloradoestatematters.com/blog/an-overview-of-the-colorado-probate-process/ - Categories: Probate, Estate, & Trust Administration This is the only guide you need to navigate Colorado probate Many estates must navigate the Colorado probate waters after a person's death. This process can range from straightforward in uncontested cases to complex and demanding in situations involving disputed wills or estate administration issues. Below, our Denver probate attorney delves into the Colorado probate process, shedding light on its nuances and guiding you through its intricacies. What are the different types of probate in Colorado? In Colorado, the probate process is designed to accommodate estates of varying sizes and complexities through three distinct types: informal probate, formal probate, and small estate probate. Each type serves different needs based on the estate's total value, the complexity of assets, the presence and clarity of a will, and whether any disputes among heirs are expected. Informal Informal probate is the most straightforward and least costly process, intended for estates with a valid will, no anticipated disputes among heirs or beneficiaries, and no complicated assets requiring detailed management. This process allows for the administration of the estate without constant court supervision. Formal Formal probate is required for more complex situations, such as when the will is contested, the estate is insolvent, or significant disputes among heirs or beneficiaries. Formal probate is characterized by a higher degree of court involvement, with a judge making important decisions at various stages, such as validating the will, appointing the personal representative, and overseeing the asset distribution. This process is more structured and public, involving formal court hearings... --- - Published: 2015-07-10 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/living-trust-faqs/ - Categories: Trusts Living trusts can be an important part of some estate plans, especially for people who have special needs children who want to help their families avoid probate and/or who have other special circumstances/wishes. To elucidate the benefits of living trusts and when people should consider setting them up, below, we’ll answer some of the most common questions about these estate planning tools. When you are ready to set up a living trust or resolve any estate planning issue, contact an experienced Denver trust attorney at Colorado Estate Matters, Ltd. Our lawyers are here to make sure that you pick the right living trust that works for you as well as for your family. Answers about Living Trusts in Colorado Q – What is a living trust? If you have questions about living trusts, here are some helpful answers from an experienced Denver trust attorney. Contact us for help developing and administering trusts. A – Also referred to as intervivos trusts and revocable living trusts, living trusts are estate planning tools that designate a third party (the trustee) to manage certain assets (the trust funds/assets) behalf of another party (the trust beneficiary). With living trusts, the trustmaker can be the trustee, and the terms of the trust can be altered as long as the trustmaker is alive. Q – When can living trusts be changed? A – Whenever the trustmaker wants to, as long as the trustmaker is “able” or “of sound mind. ” In fact, as long as the trustmaker... --- - Published: 2015-06-30 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/your-essential-estate-planning-checklist/ - Categories: Estate Planning, Firm News When you’re ready to put an estate plan in place, knowing where to start and what you need to do can be confusing. To help you initiate this process with a mind towards the various aspects you may need to consider. We have provided an essential estate planning checklist. Do not hesitate to contact us when you want experienced help. We can develop a comprehensive estate plan tailored to your needs and wishes. Your Checklist for Estate Planning An experienced Denver estate planning attorney provides an essential checklist to facilitate the estate planning process. Contact us when you’re ready to develop an estate plan. Create a will – Your will should outline your assets, chosen beneficiaries and who you would like to inherit your assets. Figure out if you need to develop a trust – Trusts can help loved ones avoid probate for certain assets. To make sure that a loved one inherits certain property without having to deal with probate, setting up a trust is a good idea. Trusts can be beneficial for other reasons or situations. Be sure to consult with an experienced lawyer to find out if this would be beneficial for you and your loved ones. Develop powers of attorney – Specifically, you may want to develop financial and medical powers of attorney. While a financial power of attorney can ensure that your assets, property and businesses are taken care of should you become incapacitated. A medical power of attorney can ensure that your health care... --- - Published: 2015-06-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/4-things-a-will-can-not-do/ - Categories: Estate Planning, Wills Wills can be very powerful estate planning documents that can set terms for powers of attorney, asset distribution and even the care for orphaned minor children. There are some things that wills are NOT able to do. Understanding the limitations of wills can be crucial to knowing when you may need to take further estate planning steps for you and your family. Limitations of Wills: Here’s What You Should Know 1 – Wills cannot dictate how certain property is distributed upon a death. Although wills are powerful estate planning documents, they do have some limitations. A Denver will attorney will be able to point it out to you. Contact us for help with any of your estate planning needs. In fact, while wills can detail how the assets that you own solely are to be distributed upon your passing, they cannot stipulate how the following property is handled: Property co-owned with someone else (i. e. , jointly owned property) Property that is held in a living trust Life insurance proceeds (as they already have designated beneficiaries) Stocks, bonds and other property with transfer-on-death (TOD) designations. 2 – Wills will not get your loved ones out of paying estate taxes. Although a will can be devised to set up trusts and other tools that can help reduce future estate tax obligations, they typically cannot help people get out of having to pay these taxes altogether. 3 – Wills cannot put certain conditions on inheritance. For instance, a will cannot specifically state... --- - Published: 2015-06-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/what-happens-if-i-die-without-a-will/ - Categories: Estate Planning, Wills Having a will in place can protect you and your family in the event of a catastrophic injury, incapacitation or even death. However, if you end up passing away without having a legal will in place: Your estate will be passed on to your relatives via Colorado intestate laws. The nature of your estate, as well as who your surviving relatives are, will impact determinations regarding who gets what. Colorado Intestacy Laws: Here’s What Happens When There’s No Will When people die without a will, Colorado intestacy laws will come into play, and here’s what that can mean, a Denver will attorney explain below. When it comes to inheritance rights, according to Colorado intestacy laws: A spouse will have a priority for inheriting an estate over biological children from the decedent and the spouse (if the decedent has no other children). If a decedent has a spouse, kids with that spouse and kids from another relationship, then the spouse will inherit the first $150,000 of the estate, along with half of the remaining balance. The remainder of the estate will go to the kids from the other relationship. If the decedent has a surviving spouse, no children with that spouse but children from another relationship, then the spouse will inherit half of the intestate property, and the children will inherit the other half. Should the decedent leave a spouse and parents but no children, then the spouse will inherit the first $200,000 of the intestate property, as well as three-quarters... --- - Published: 2015-05-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/5-tips-for-agents-of-financial-powers-of-attorney/ - Categories: Powers of Attorney Agents or “attorneys in fact” are people who have been designated by another individual (i. e. , the principal) via a financial power of attorney to manage the principal’s finances. While stepping into the role of agent for someone else is completely voluntary, when people do agree to take on this role, they accept certain legal responsibilities. Here are some helpful tips that can assist agents of financial powers of attorney in successfully fulfilling their important duties. Helpful Tips for Agents Tip 1 – Determine when the power of attorney takes effect. An experienced Denver estate planning attorney provides some essential tips for agents of financial powers of attorney. It will either take effect via a springing power, meaning that a specific event (e. g. , incapacitation, etc. ) described by the principal has occurred, or a standing power, meaning that it goes into effect as soon as the principal signs (authorizes) it. Typically, the power of attorney documents will specify the terms of the powers taking effect. Make sure you review these documents so you know when you need to start your role as agent. Tip 2 – Figure out the scope of your authority. Financial powers of attorney can be limited or very broad, depending on the terms the principal wanted. Determine just how much power you, as an agent, have when it comes to the principal’s finances. Have you only been authorized to manage personal expenses and household bills? Or are you now responsible for the principal’s... --- - Published: 2015-05-15 - Modified: 2024-09-26 - URL: https://www.coloradoestatematters.com/blog/where-should-i-keep-my-will/ - Categories: Wills After creating a will, one of the next important decisions you will make is where to store that will. The reason this is so important is that, if your personal representative or beneficiaries cannot locate the original copy of your will in the future, it can create significant (and unnecessary) challenges for them, costing them both financially and emotionally. Good Places to Store a Will An experienced Denver estate planning attorney explains where to store your will for safe keeping. Contact us for help with any estate planning needs that you may have. When choosing a place to store your will, you will want to keep it somewhere where: It will be safe. Example would be a fireproof safe located inside your home. It can be easily found by an executor or personal representative. If it is in a safe it is wise to make sure that someone knows the location and how to get in the safe. Specifically, this can include: At home – If you want to keep your will in your home, be sure to store it in a waterproof, fireproof safe (and, more ideally, one that cannot be picked up/potentially be stolen). It is not advisable to store a will in a file cabinet or somewhere else where it would be readily accessible to anyone who visits your home. In a safety deposit box – This can be another secure location where you can keep your will. With safety deposit boxes you should be aware that... --- - Published: 2015-05-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/joint-tenancy-probate-faqs-pt-3/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration Here’s the conclusion to our blog series Joint Tenancy & Probate FAQs. Joint Tenancy & Probate: More Important Info Below Q – What are the advantages of joint tenancy in probate? Here is a look at the pros and cons of joint tenancy and probate in Colorado. Contact our Denver probate attorney for the best representation in Colorado probate. A – When it comes to probate, one of the single biggest advantages of jointly owning property is that the surviving tenants will NOT have to go through probate in order to have the title (or deed/ownership rights) transferred to them. Bypassing probate for significant property like homes, real estate and bank accounts can be a huge benefit, as it can provide these surviving tenants with immediate (and potentially much needed) access to finances without much (if any) legal interventions. Q – What are the disadvantages? A – Although there are some major advantages that can be realized by owning property in joint tenancy, there may be some drawbacks too. This all is depending on an individual’s situation. Specifically, just some of the possible disadvantages to joint tenancy can be that it: Subjects the property to the surviving tenant’s liabilities and/or creditors. So, if a surviving tenant loses a civil lawsuit, (s)he could be forced to have to sell the property to satisfy the resulting judgment. Can subject the surviving tenant(s) to gift tax liability, if the property is transferred into joint tenancy or major improvements are made to jointly held... --- - Published: 2015-04-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/joint-tenancy-probate-faqs-pt-1/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration Joint tenancy can provide people with a way of transferring real or personal property to surviving loved ones after passing way, effectively preventing this property from having to be probated. Although joint tenancy may not fully eclipse the need for a decedent’s estate to go through probate, it can help get some significant assets to loved ones much faster (and likely much cheaper) than would otherwise be possible. Taking a closer look at this, this blog series will answer some common questions about joint tenancy and probate. Although the responses herein can provide you with some further insight about probate, don’t hesitate to contact an experienced Denver probate attorney at Colorado Estate Matters, Ltd. when you need assistance resolving any probate issues or case. Our lawyers are skilled at resolving even the most complex probate cases, and they are ready to put their experience, knowledge and resources to work helping you ASAP. Answers about Joint Tenancy & Probate below. Q – What is joint tenancy? Do you know how joint tenancy can impact Colorado probate? If not, check out these FAQs. Contact our Denver probate attorney for the best representation in Colorado probate. A – Joint tenancy refers to a manner of owning real or personal property, in which there are at least two individuals with ownership over that property. When property is jointly held (i. e. , property held in joint tenancy), this effectively means that each of the owners of that property have an “undivided share” or the... --- - Published: 2015-04-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/how-to-create-an-inventory-of-assets-for-colorado-probate-8-steps-pt-2/ - Categories: Asset Protection, Creditors and Probate, Probate, Estate, & Trust Administration Resuming How to Create an Inventory of Assets for Colorado Probate: Eight Steps (Pt. 1), we will point out the next steps to take as you continue compiling a comprehensive inventory of a decedent’s estate. The Next Steps to Take in Creating an Inventory of Assets for Colorado Probate 3 – Detail all personal property assets. Detailing a decedent’s personal property, as well as his debts, are key steps when creating an inventory of assets for Colorado probate. This part of the inventory for Colorado probate should specifically list out all personal property the decedent owned at the time of his death, and it may be necessary to create sub-categories for assets like: Motor vehicles Artwork Expensive jewelry. For other personal assets, such as personal collections of coins, stamps, etc. , these may be valued as a whole unit, rather than having to list out each individual item within that collection. 4 – Note all of the decedent’s bank accounts and/or retirement accounts. For each of these account listings, be sure to note the: Name of the banking institution where the account is held Account number All account holders’ names (if the account was shared) Amount of money being held in the account (i. e. , the cash value of the account). Here, it’s important to note that, for retirement account listings, you may need to obtain copies of final divorce decrees in order to determine whether a decedent may have had claim to a portion of an ex’s retirement... --- - Published: 2015-04-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/5-main-types-of-advance-medical-directives-an-overview-pt-3/ - Categories: Estate Planning, Medical Directives, Powers of Attorney Here’s the conclusion to our blog series Five Main Types of Advance Medical Directives: An Overview. Final Type of Advance Medical Directive – Organ and Tissues Donation Declarations When you are ready to develop advance medical directives or any estate planning documents, please call us and schedule a free estate planning consultation. We are skilled at creating the best solutions for our clients. These directives can be included in living wills, stand-alone documents or even on drivers’ licenses. With these declarations as advance medical directives, people can: Specify who should receive certain organ donations List a preference for organ recipients Prevent their organs from being donated. Advance Medical Directives: More Important Info While we have highlighted the various types of advance medical directives available in Colorado, here is what else people should generally be aware of when it comes to these directives: Advance medical directives do NOT take away someone’s power to make his or her own health care decisions when that individual is able to do so; these directives only come into play when people cannot make or communicate these decisions. When someone becomes incapacitated without having an advance medical directive in place, the court will typically step in and appoint another person to be a guardian of the incapacitated individual. This can be problematic in the event that the court ends up appointing someone whom the incapacitated person would NOT want to have making medical decisions for them. While you can set up basic advance medical directives with... --- - Published: 2015-03-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/5-main-types-of-advance-medical-directives-an-overview-pt-1/ - Categories: Estate Planning, Medical Directives, Powers of Attorney, Wills While every adult in the U. S. is entitled to refuse or consent to medical care, knowing what a specific adult individual would prefer for health care can be difficult in the event that adult becomes incapacitated. Do you know what advance medical directives are and how they can be important? If you are unsure or have questions, please contact Colorado Estate Matters, Ltd. today. When this occurs, estate planning tools known as advance medical directives can be crucial, as these directives can detail various wishes a person has about medical care and/or end of life decisions. Taking a closer look at how these directives can be developed and implemented, in this blog series. We will highlight the different types of advance medical directives in Colorado. When you are ready to develop any type of advance medical directives, or if you need any assistance with estate planning and/or probate in Colorado, do not hesitate to contact an experienced and trusted Denver estate planning lawyer at Colorado Estate Matters, Ltd. All of our attorneys are skilled at developing the best estate planning solutions for our clients so they can protect themselves, their families and their future. Types of Advance Medical Directives 1 – Living Wills With advance medical directives in the form of living wills, people can specify their wishes regarding: Life-sustaining procedures, namely how or whether these procedures will be administered, withheld or withdrawn in the event people are unconscious, incompetent and/or have a terminal condition. This can include details... --- - Published: 2015-03-15 - Modified: 2024-09-11 - URL: https://www.coloradoestatematters.com/blog/colorado-wills-7-facts-you-should-know-pt-2/ - Categories: Wills Resuming Colorado Wills: Seven Facts You Should Know (Pt. 1), here we will continue highlighting some essential information to know about wills in Colorado. More Important Info about Colorado Wills Fact 3 – Colorado wills can and sometimes should be revised. Do you know when Colorado wills should be revised? Or how divorce can impact Colorado wills? If you would like help answering those questions, please contact us today. Once you have an authorized will in place, you should be aware that this may not be the final step you need to take in terms of estate planning. In fact, as your life circumstances change, revising and updating your will can be essential to ensuring that: New children or other loved ones are included in your will. Relatives with whom you have had a falling out are appropriately dealt with in your will. Your evolving wishes for your property after your passing are properly disclosed in your will. Specifically, some of the times that you may want to consider revising your will include when: New children are added to a family (through birth, adoption, marriage, etc. ). You move. Your assets significantly change (because, for instance, you have inherited some new real estate). Here, we also want to note that: While certain life events can necessitate changes to Colorado wills, it is also generally advisable that you review your will on a regular basis to make sure it is up-to-date. While you can update your will at any time, the... --- - Published: 2015-03-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/powers-of-attorney-faqs-pt-3/ - Categories: Powers of Attorney Wrapping up our blog series Powers of Attorney FAQs, below are some more answers about this essential aspect of estate planning. Additional Answers about Powers of Attorney Q: Can I change powers of attorney in the future? When you are ready to take action and put some powers of attorney in place, contact a trusted Denver estate planning attorney at Colorado Estate Matters, Ltd. A: Yes, as long as you have the capacity to do so. In other words, if you are NOT incapacitated and you change your mind about any aspects of your powers of attorney, you can revise or revoke these powers. When it comes to altering powers of attorney in the future, however, we want to note that certain life changes, like an annulment, separation or divorce can impact your powers of attorney if your former spouse was named as your agent. If your powers of attorney identify your spouse as your agent and then your marriage ends, by Colorado law, that individual will no longer be your agent. If you named a Successor Agent in your powers of attorney, then: That person would step into the role of agent for you. Your powers of attorney would remain in effect even though your former spouse is no longer a party to them. Q: Can multiple people share powers of attorney for me? A: Yes. In fact, when appointing agents for your powers of attorney, you can name: Multiple people to have distinct powers of attorney, such as... --- - Published: 2015-02-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/powers-of-attorney-faqs-pt-1/ - Categories: Powers of Attorney Powers of attorney can be effective and necessary estate planning tools, as they protect people in the event of incapacitation in the future. Given that there are different types of powers of attorney, and that the best options for someone will depend on his situation, in this three-part blog series, we will respond to some of the most commonly asked questions about powers of attorney. When you are ready to move forward in developing powers of attorney or resolving any estate planning issues, you can turn to a trusted and experienced Denver estate planning attorney at Colorado Estate Matters, Ltd. Our lawyers and legal staff are dedicated to helping people protect what matters most to them while helping them achieve the best possible outcomes to all of their estate planning and probate matters. Answers Regarding Powers of Attorney Q: What are powers of attorney? When you need answers about powers of attorney and how they can help you, check out these FAQs. Please contact our Denver estate planning attorneys for more advice. A: Generally speaking, powers of attorney are legal authorizations granting a certain person the right to handle particular aspects of your life. The idea is that, if you are ever incapacitated in the future and you cannot oversee certain important elements of your life, the person to whom you have granted a power of attorney (i. e. , the agent or fiduciary) will legally be allowed to handle these affairs on your behalf. Powers of attorney can vary... --- - Published: 2015-02-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/what-to-do-after-someone-dies-10-steps-to-take-after-a-death-pt-2/ - Categories: Firm News, Probate, Estate, & Trust Administration, Trust Administration, Wills Picking up from What to Do after Someone Dies: 10 Steps to Take after a Death (Pt. 1), we will identify the next steps people should take after the most immediate things, such as funeral arrangements, have been completed. What to Do after Someone Dies: The Next Steps to Take Are In the weeks following a loved one’s death, here are the next steps that are important to take: 5 – Get copies of the death certificate As you proceed with taking care of various issues and matters after a loved one’s death, it’s important to obtain multiple copies of the death certificate. When it comes to what to do after someone dies, getting copies of the will and/or death certificate will be important. It is also important to contact us to see what the next steps will be. While it is usually easiest (and most common) to get copies of a death certificate from a funeral director or funeral home, there are other ways to obtain official copies, such as by contacting the Vital Statistics Department (in the county where your loved one passed away) or the Colorado State Department of Public Health and Environment, Vital Records Office. The reason that having multiple copies of the death certificate is crucial is that you will likely need to provide a copy to financial institutes, government agencies and other entities moving forward (as these organizations typically won’t do anything until they receive an official copy of the death certificate). 6 –... --- - Published: 2015-02-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/estate-planning-for-your-special-needs-child-heres-what-you-should-know-pt-3/ - Categories: Asset Protection, Estate Planning, Powers of Attorney, Trusts, Wills Concluding our blog series Estate Planning for Your Special Needs Child: Here’s What You Should Know, below we will take a closer look at what estate planning documents you may want to put in place now if you do not already have them. Estate Planning for Your Special Needs Child: What You May Need in Place Now Here is the documents you may want to put in place ASAP when it comes to estate planning for your special needs child. Contact us for help and more info. If you have a special needs child and are starting to consider your estate planning options now, the American Bar Association strongly recommends that you have the following estate planning documents prepared and put in place: A last will and testament – This should outline how you want your estate to be dealt with after you pass away. It can also provide other provisions like, for instance, end-of-life directives. A financial power of attorney – This can allow an agent (i. e. , the person to whom you’ve granted the power of attorney) to oversee the financial needs of your special needs child (to whatever extent you empower them through this document) in the event that you become incapacitated and unable to do this yourself. A medical power of attorney – This can allow a third-party to make important health care decisions on your behalf should you become unable to do so in the future. This can also authorize a third-party to make... --- - Published: 2015-01-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/estate-planning-for-your-special-needs-child-heres-what-you-should-know-pt-1/ - Categories: Estate Planning, Trusts, Wills While estate planning for you and your family is always important, it can be especially critical if you have children and/or if you have a child with special needs. Depending on your child’s needs, as well as your wishes for the future, there can be a few different estate planning options to protect a child with special needs, providing him with essential financial support after you pass away. In this blog series, we will take a closer look at what you need to know about estate planning for your special needs child. If you are ready to start putting some plans in place now or you need assistance altering an existing estate plan, don’t hesitate to contact the trusted and experienced Denver estate planning lawyers at Colorado Estate Matters, Ltd. We are skilled at helping our clients devise the best estate planning solutions for them and their families. Estate Planning for Your Special Needs Child: The Challenges Estate planning for your special needs child is important to ensure he has the financial support he may need in the future. Here’s what you should know about estate planning for your special needs child. The American Bar Association notes five potential challenges for estate planning for your special needs challenges. Generally, these include: Providing for all of your loved ones without impacting your special need child’s eligibility for government benefits (like, for instance, Medicaid and/or SSI benefits) Devising an estate plan that supplements government benefits for your special needs child while enhancing... --- - Published: 2015-01-15 - Modified: 2024-09-26 - URL: https://www.coloradoestatematters.com/blog/guardianships-and-conservatorships-faqs-pt-2/ - Categories: Estate Planning, Guardianships & Conservatorships Picking up from where Guardianships and Conservatorships: FAQs (Pt. 1) left off we will answer some more commonly asked questions about guardianships and conservatorships. More Answers about Guardianships and Conservatorships Q – Are there different types of guardianships and conservatorships? There are different types of guardianships and conservatorships that can be pursued. Check out these FAQs for more answers or contact us. We are here to help you. A – Yes. Guardianships and conservatorships can be as restricted or expansive in authority as the court sees fit to grant. In particular, the following are a few of the more common types of guardianships and conservatorships that can be obtained: Limited guardianships and conservatorships – In these cases, the conservator or guardian (i. e. , the individual or party granted the authority over a protected person) will only have the authority to make decisions regarding a discrete or specific aspect of a protected person’s life. For instance, while limited guardianships can be restricted to only making health care decisions for a protected person, limited conservatorships can be restricted to only making financial decisions related a protected person’s business. Temporary guardianships and conservatorships – With temporary guardianships and conservatorships, the court will limit the term of these legal relationships to a specific, short period of time (such as 90 days). Generally, in such cases, the court will re-review the case once the period of guardianships and conservatorships is up and decide then whether or not to extend this authority. Joint guardianships and... --- - Published: 2015-01-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/6-tips-for-personal-representatives-administering-estates-pt-3/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration, Trust Administration Ending our three-part blog series Six Tips for Personal Representatives Administering Estates, we will point out some final helpful tips for the people in charge of administering the estates of decedents. Additional Tips for Personal Representatives Administering Estates Tip 5 – Don’t forget about creditors and estate taxes. Of all of our tips for personal representatives administering estates, the best tip to remember is that working with an attorney can be key to successfully administering estates. Paying creditors of the estate, as well as the estate taxes, will be an important step to complete before the assets of the estate can be distributed to the beneficiaries. Here is what is important to keep in mind when it comes to paying creditors and estate taxes as part of the estate administration process: Do not be hasty to pay creditors on a first-come-first serve basis. This could open you up to allegations that you gave some creditors special treatment over others and, in turn, to breach of fiduciary lawsuits. Make sure a debt claim against the estate is valid before you pay it. The death of a person can bring all sorts of creditors out of the woodworks, and not all of these parties will have legitimate claims. For estate taxes, you may have to file taxes both for the estate and for the decedent, and there may be various tax issues to consider in terms of filing jointly (with a surviving spouse), filing for a business that the decedent owned, etc.... --- - Published: 2014-12-26 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/6-tips-for-personal-representatives-administering-estates-pt-1/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration, Trust Administration When a loved one passes away, you may be put in the position of being a personal representative for that loved one’s estate. Also referred to as executors, personal representatives have a lot of responsibility when it comes to the administration of an estate, and understanding these responsibilities and obligations is crucial to: Properly and efficiently administering an estate Avoiding mistakes and unnecessary challenges Minimizing personal liability in the estate administration process. In this three-part blog series, we’ll point out some helpful tips for personal representatives administering estates. If you’ve recently taken up the role of being a personal representative or if you need any help with estate planning, estate administration and/or probate, don’t hesitate to contact the trusted and experienced Denver estate planning attorneys at Colorado Estate Matters, Ltd. Our lawyers are here to help you navigate the complexities of the law so you can obtain the best possible outcomes to all of your estate planning and administration needs. Tips for Personal Representatives Administering Estates: Here’s What You Should Know Tip 1 – Know your duties and obligations. Here are some helpful tips for personal representatives administering estates. Contact us for help with all of your estate planning and administration needs. Accepting the role of being a personal representative is no light matter, and when you do agree to take on this position, it’s crucial that you take the time to fully understand all of the duties and responsibilities you will have until you close the estate or until... --- - Published: 2014-12-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/probate-in-colorado-faqs-pt-2/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration Picking up from where Probate in Colorado: FAQs (Pt. 1) left off, we will continue to respond to some commonly asked questions about probate in Colorado. Q – What should I expect in terms of the probate process? The process associated with probate in Colorado can be more or less complicated, depending on whether formal probate is necessary. A – For probate in Colorado, the process or proceeding you can expect to face will depend on whether an estate can be informally probated or whether it has to pass through formal probate. In general, the following are some of the aspects of the process of probate in Colorado (regardless of whether the proceedings are informal or formal): The personal representative will “step into the decedent’s shoes” (as the Colorado Bar Association puts it) to resolve any open or pending business affairs while distributing the assets of the estate. The court will have some role in overseeing the actions of the personal representative (in terms of the estate), with the specific role being more involved in formal probate in Colorado. Any creditors of the decedent will have to be paid (or their claims will have to be formally denied by the personal representative). Once all creditors and necessary estate taxes have been paid, the remaining estate assets will be distributed to the appropriate beneficiaries. The estate can be closed. For more detailed information regarding what you can expect from probate in Colorado, contact Colorado Estate Matters, Ltd. Q – How are... --- - Published: 2014-12-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/your-trustee-duties-heres-what-you-need-to-know-pt-3/ - Categories: Trust Administration, Trusts Wrapping up our three-part blog series, Your Trustee Duties: Here’s What You Need to Know, below, we will point out some additional administrative obligations that comprise trustee duties. Your Trustee Duties: More Administrative Obligations Are you ready for some professional help with your trustee duties? If so, contact the Denver trust and estate planning lawyer at Colorado Estate Matters, Ltd. today. In addition to registering the trust, notifying beneficiaries and overseeing the accounting for the trust, other administrative tasks that make up the trustee duties include: Paying taxes – Each year, the trustee will have to make sure that taxes are paid on behalf of the trust. The trust should have a Tax ID Number (TIN), and in many cases, these tax obligations will require paying taxes at the state and federal level. Appropriately managing the trust’s assets – Another important trustee duty involves overseeing the investment of the trust’s assets. In fact, this obligation will hold trustees to a higher standard of care than if these individuals were investing their own personal funds, as Colorado law stipulates that trustees are required to comply with the “prudent investor rule. ”This effectively means that trustees duties regarding investing the assets of trusts require that the trustees: Diversify the investments Balance the need for income with the goal for long-term principal growth Do not make risky investments Continue to consider new investment advice and opportunities to make appropriate or good investments on behalf of the trust and beneficiaries. Making the appropriate trust... --- - Published: 2014-11-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/your-trustee-duties-heres-what-you-need-to-know-pt-1/ - Categories: Breach of Fiduciary Duty, Trust Administration, Trust Disputes, Trusts Being a trustee is a big responsibility that comes with both ethical and administrative obligations. Although you do not have to have an attorney inform you of these obligations or help you comply with them. If you try to administer a trust on your own (especially when you may have some other significant obligations in your life and/or you may not be familiar with administering trusts), you can: Are you a trustee? If so, here is what you need to know about your trustee duties. Call us for experienced help administering a trust. End up mismanaging the funds or assets of the trust Be accused of breaching your fiduciary duties Being sued and held personally liable for your mistakes with administering the trust. To clarify some of the essential obligations that come with administering trusts and to minimize the chances that you will make mistakes, in this three-part blog series. We will point out some of the main trustee duties you will need to know about when you are administering trusts. If you have questions about or need any assistance with your trustee duties, don’t hesitate to contact the Denver trust attorneys at Colorado Estate Matters, Ltd. Your Trustee Duties: The Ethical Obligations When you agree to serve as a trustee, the primary ethical obligations that you have accepted and agreed to comply with as you administer the trust include: Being impartial – When administering the trust, the trustee should never promote or advance the interests of any one party... --- - Published: 2014-11-15 - Modified: 2024-09-11 - URL: https://www.coloradoestatematters.com/blog/faqs-about-drafting-wills-pt-2/ - Categories: Wills Continuing from where FAQs about Drafting Wills (Pt. 1) left off, here are some more insightful responses to questions about drafting wills in Colorado. Q – How can drafting wills now help my family in future? Drafting wills that meet people’s needs and final wishes can be a complicated process. Here are some important info about drafting wills in Colorado. A – In many ways, with the specific benefits depending on the details of a given situation, estate and family. In general, some of the most significant benefits of drafting wills now include: Clearly outlining end-of-life directives for family members – This can ease their stress and help them carry out people’s final wishes when these people may be unable to communicate these wishes. Setting up medical and financial powers of attorney when people have the clear minds to do so Distributing the assets of an estate to the heirs and beneficiaries whom people want to receive these assets Possibly even disinheriting certain family members Helping family members minimize their tax obligations after a loved one has passed Helping family members avoid probate (or expedite probate) Setting up special estate planning options for specific family members, such as those who may have special needs or impairments. Q – What are the consequences of not drafting wills now? A – This question about drafting wills is pretty much in line with the previous one, as failing to have wills in place can mean that a person’s relatives: Will not clearly know... --- - Published: 2014-11-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/the-3-types-of-probate-in-colorado-an-overview-pt-2/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration Resuming The 3 Types of Probate in Colorado: An Overview (Pt. 1), below we will continue our discussion regarding the different types of probate in Colorado, with a specific focus on formal probate and some info you should know regarding all types of probate in Colorado. Formal Probate in Colorado To minimize the possible complications and costs of probate in Colorado, contact Colorado Estate Matters, Ltd. Our attorneys are ready to provide you with superior service for all of your probate and estate planning needs. Formal probate in Colorado is typically what people think of (and dread) when they are concerned about having to proceed through a drawn out, expensive and costly probate process. With formal probate in Colorado, the courts will oversee every aspect of the case, playing a critical role in reviewing every action and making final rulings regarding disputes in the case. In general, formal probate in Colorado will occur when any single one (or some combination) of the following factors arise with an estate: A decedent has left no will. The existing will has not been authorized, and/or there are challenges to the legitimacy of the will for an estate. The existing will provides unclear instructions regarding the distribution of the estate’s assets. The heir to an estate cannot be located. There are substantial disputes regarding the assets of the estate. A Few More Things about Probate in Colorado Estates that start off going through one type of probate may end up being resolved through another.... --- - Published: 2014-10-25 - Modified: 2024-09-11 - URL: https://www.coloradoestatematters.com/blog/setting-up-a-living-trust-6-facts-to-know-pt-3/ - Categories: Estate Planning, Estate Taxes, Trust Administration, Trusts Concluding our blog series Setting up a Living Trust: 6 Facts to Know, below we will point out some final important facts to be aware of if you are considering setting up a living trust. Setting Up a Living Trust: Some Final Facts to Consider... Fact 5 – While there are a number of advantages associated with setting up a living trust, there are also some drawbacks people should be aware of. The most important fact to know about setting up a living trust is that, when you are ready to do this, Colorado Estate Matters, Ltd. is ready to provide you with superior legal service. Although setting up a living trust can offer people and their beneficiaries a number of advantages, there can be some downsides to these types of trusts. In fact, people need to know that the size of their estate, the nature of their assets and their plans for the future will also impact whether or not setting up a living trust is the right move for them. Some of the specific downsides of setting up a living trust can include (but are not necessarily limited to): The costs – There are some upfront costs associated with setting up a living trust. Although these costs can be greatly offset in the future in that your beneficiaries will not have to deal with probate. You personally will not realize the savings, and this may be a disadvantage for some people. The tax issues – Depending on the... --- - Published: 2014-10-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/setting-up-a-living-trust-6-facts-to-know-pt-1/ - Categories: Creditors and Probate, Estate Planning, Probate, Estate, & Trust Administration, Trust Administration, Trusts When it comes time to plan for your family’s future, setting up a living trust can be an effective way to manage your assets while detailing the terms of how these assets will provide for your family after you pass away. In fact, living trusts can open up a large number of options for people involved in estate planning, allowing them to customize these trusts to fit their needs, assets and plans for the future. In this three-part blog series, we will discuss some important facts to know when it comes to setting up a living trust. Although the discussion herein is general, you can easily obtain more specific information and professional advice regarding your situation by contacting the Denver trusts and estate planning attorneys at Colorado Estate Matters, Ltd. today. Setting up a Living Trust: Here’s What You Should Know... Fact 1 – Living trusts can help beneficiaries avoid probate. Setting up a living trust can be advantageous in various ways. Here are some of the facts about setting up a living trust. Contact us to find out more about living trusts. One of the most important advantages associated with setting up a living trust is that these types of trusts are one of two primary ways of helping your beneficiaries avoid probate in the future. The facts are that: Probate can be a very expensive, time-consuming and stressful process that can only compound your loved one’s stresses while they may be grieving. Having a will in place may... --- - Published: 2014-10-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/top-7-reasons-to-create-a-will-pt-2/ - Categories: Estate Planning, Wills Picking up from where Top 7 Reasons to Create a Will (Pt. 1) left off, below we will continue pointing out some of the most important reasons that you should develop a will if you do not already have one in place. More Reasons Why You Need to Create a Will... While a will allows you to choose your beneficiaries, it can also help you protect your minor children. Call us when you are ready to create a will. Reason 3 – You can choose your beneficiaries. Just as the development of a will allows a person to select his executor, so too does it empower him to choose the specific beneficiaries of his estate. Whether these beneficiaries end up being a person’s spouse, siblings, children or other relatives, the fact of the matter is that having a will in place will effectively allow an individual to choose who may get what from the estate. This can be very important whenever a person has specific wishes about what people in his life should end up getting specific assets or property of his estate after his passing. For instance, if a person wants his spouse to retain the marital house while his children get other specific assets, all of these detailed wishes can be fully articulated in a legal will. When there is no will in place, carrying out these wishes and ensuring that certain beneficiaries get specific assets or property will be far more difficult (if these wishes are even... --- - Published: 2014-09-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/dealing-with-creditors-in-probate-faqs-pt-3/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration Wrapping up our blog series Dealing with Creditors in Probate: FAQs, below we will answer some final questions regarding creditors and probate. Additional Answers to Questions about Handling Creditors in Probate Q – When can a creditor’s claim against an estate be extinguished or shutdown? Not all creditors in probate will have valid claims. Knowing when to shutdown illegitimate debt claims can help you preserve an estate’s assets for the people who deserve them. A – In a few different cases, with the most common of these being: When a creditor’s claim against an estate may be fraudulent When the debt was already repaid (and the creditor may be mistakenly claiming that the debt is outstanding) When the creditor fails to assert its debt claim within the proper period of time after the Notice to Creditors has been published (or after a probate case has been resolved and closed) When the creditor fails to file the proper petition after a probate estate has “disallowed” the debt claim (creditors will usually only have about 60 days from the date of the disallowed claim to file a petition to appeal this decision). Knowing these rules can be pivotal to not paying creditors who have failed to comply with them and, consequently, to preserving the assets of an estate for the beneficiaries. Q – What if there is not enough money to pay back all of the creditors in probate? A – When an estate may lack the cash to pay off all... --- - Published: 2014-09-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/dealing-with-creditors-in-probate-faqs-pt-1/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration While probate is generally known to be a time-consuming and complicated process, one of the particularly challenging aspects of this process can be dealing with creditors in probate when an estate may have various debts to resolve. This is because there is a specific process that has to be followed for handling creditors in probate, and this usually has to be done and resolved before any of the estate’s assets can be distributed to the appropriate heirs. Given the importance and complexities of dealing with creditors in probate, in this blog series, we will answer some commonly asked questions about this process. Keep in mind that the responses provided herein are general; however, you can easily receive some professional advice specific to your situation by contacting the Denver probate attorneys at Colorado Estate Matters, Ltd. Answers to Common Questions about Handling Creditors in Probate Q – What are the first steps I need to take in dealing with creditors in probate? Dealing with creditors in probate can be complicated, time-consuming and costly. Check out these FAQs to learn more about this process. Or call us today for answers. A – First, you will have to take action to notify the creditors of the estate of the passing of the decedent. According to Colorado Probate Code, this specifically means publishing a notice of the death in a newspaper of “proper jurisdiction,” which would be the county in which the decedent lived or the county in which the probate case has been... --- - Published: 2014-09-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/probate-in-colorado-6-facts-to-know-pt-2/ - Categories: Creditors and Probate, Probate, Estate, & Trust Administration Picking up from where we left off in Probate in Colorado: 6 Facts to Know (Pt. 1), below we will point out some more important facts that people should be aware of when it comes to probate in Colorado. Additional Important Info You Should Know about Probate in Colorado Fact 3 – Probate in Colorado likely will not have specific impacts on your personal taxes if your estate is valued at less than $5M. Careful planning with a Denver probate lawyer at Colorado Estate Matters, Ltd. can help your family avoid probate in Colorado altogether. Call us to learn more. In Colorado, there is not currently an estate estate tax or inheritance tax; therefore, the federal estate tax statutes will only come into play for estates passing through probate in Colorado. What this specifically means is that: The federal estate tax exemption will apply. If an estate is valued at less than $5 million, then it will generally be exempt from federal estate taxes. Here it is important to point out that: Setting up trusts or taking advantage of other estate planning options may help people take advantage of the federal estate tax exemption. Working with an experienced Denver probate lawyer at Colorado Estate Matters, Ltd. can help figure out your best options for protecting as much of your assets as possible so that they are passed down to your family instead of being handed over to tax officials and agencies. Fact 4 – Although most estates go through probate... --- - Published: 2014-08-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/grounds-for-contesting-a-will-pt-2/ - Categories: Estate Planning, Probate, Estate, & Trust Administration, Trust & Will Contests, Wills Picking up from where Grounds for Contesting a Will (Pt. 1) left off, below, we continue our discussion regarding how people can legally challenge a will in order to try to get part or all of it rendered void. In addition to problems with how a will was executed and undue influence, another ground for contesting a will is: When you need assistance contesting a will or developing air-tight will, contact the Denver will and estate planning lawyers at Colorado Estate Matters, Ltd. 3. Mental Incapacity With this ground for contesting a will, the claim will be that the decedent lacked the cognitive capabilities to develop and/or execute a will. Specifically, there has to be proof that the decedent: Did not understand the value or nature of the property discussed in the will Was not aware of who the beneficiaries are Did not comprehend what it meant to develop a will. In many cases, mental incapacity can mean that the decedent was battling some type of impairment like Alzheimer’s disease or dementia. It could also specifically mean that a person was legally insane or under the influence of powerful narcotics when the will was developed. Of all the grounds for contesting a will, claims of mental incapacity are usually the most successful, especially when they are initiated by a surviving spouse. Final Thoughts on Contesting a Will... If you are considering contesting a will, it is also important that you realize that: You must be an “interested party” in order... --- - Published: 2014-08-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/8-different-types-of-trusts-an-overview-pt-3/ - Categories: Probate, Estate, & Trust Administration, Trust Administration, Trusts Here is the conclusion to our three-part blog 8 Different Types of Trusts: An Overview. Additional Types of Trusts that Can Benefit You & Your Family When you are ready to talk about estate planning, our Denver trusts lawyers can help you determine which types of trusts may be the best choices for you and your family. 6. Special Needs Trusts With these types of trusts, people can provide specific financial protection for their loved ones with special needs (including both physical and mental impairments) for years to come. Special needs trusts are particularly beneficial when people want to: Financially support their loved ones with special needs Avoid doing anything that would impact their loved ones’ eligibility for/access to government benefits (like, for instance, federal disability benefits). By setting up special needs trusts, people can ensure that their loved ones have the financial support they may need to pay for things like in-home care, special equipment, living expenses, recreational activities, etc. (none of which may be covered by the very limited government benefits a person may receive). One of the key elements of special needs trusts (which can be set up by trustmakers prior to passing or can be set up by people with special needs after they have received some inheritance) is that the individual with special needs is NOT named as the trustee of the trust (i. e. , that the person with special needs does not control the assets and business of the trust). 7. Spendthrift Trusts... --- - Published: 2014-08-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/8-different-types-of-trusts-an-overview-pt-1/ - Categories: Trust Administration, Trusts 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 choices) for them will depend on various factors, some of which include: Whether a person wants the power to alter the trust in the future The beneficiaries a person will want for the trust Any special rules or instructions the individual may want in place for the trust Whether the individual developing the trust wants to take advantage of certain tax breaks. Given that there are various types of trusts available, in this three-part blog, we will take a closer look at some of the most common types of trusts and explain the benefits of each. Keep in mind that the discussion herein has been provided as a general overview and that you can easily obtain more specific info and professional legal advice regarding trusts by contacting the Denver trust attorneys at Colorado Estate Matters, Ltd. A Look at Some of the Most Common Types of Trusts 1. Revocable Trusts Also referred to as living trusts, these types of trusts essentially permits the trustmakers (i. e. , the individuals who are developing the trusts) to be able to make changes to the stipulations of the trusts at any point in the future. For example, while... --- - Published: 2014-07-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/faqs-about-executors-and-wills-pt-2/ - Categories: Estate Planning, Probate, Estate, & Trust Administration, Wills Below are some more answers to frequently asked questions about the role of executors when it comes to the administration of wills. Whether you have been named as an executor or you need help drafting a will, you can count on the Denver wills attorneys at Colorado Estate Matters, Ltd. Q: Who can be the executor of a will? A: Pretty much anyone – ranging from a relative to a legal professional – can be named as the executor of a will. In general, however, people tend to specifically name at least one of the following individuals to be the executors of wills: A spouse A child A sibling The estate planning lawyer who assisted in the drafting of the will. Here, it is important to note that, if relationships change (like, for instance, if a person ends up going through a divorce), it will be critical that the individual updates his/her. This will ensure that an appropriate person is named as the executor of the will (and to avoid situations such as an ex taking over executor duties, especially if the divorce left the former spouses on less than good terms). Q: What qualities should an executor have? A: While nearly anyone can be named as an executor to a will, the most important qualities to look for when you (or a loved one) is choosing an executor are: Trustworthiness and honesty The ability to communicate The ability to work well with others The ability to stay organized and... --- - Published: 2014-07-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/6-mistakes-to-avoid-when-developing-a-power-of-attorney-pt-3/ - Categories: Estate Planning, Powers of Attorney Here is the conclusion to our three-part blog 6 Mistakes to Avoid When Developing a Power of Attorney. Power of Attorney Mistake 5 – Not Creating Any Power of Attorney When you are ready to develop a power of attorney that meets your needs and wishes, contact the Denver estate planning attorneys at Colorado Estate Matters, Ltd. This power of attorney mistake is commonly made when people put off essential estate planning or when they are unaware that they should be taking these steps to plan for their future. Not having a power of attorney in place can leave your finances and medical care in a state of disarray if you become incapacitated in any way in the future. For instance, if you are injured in an accident, your loved ones may be left scrambling to figure out whether you want to be left on life support, how to handle your financial matters, etc. What this ultimately means is that not having a power of attorney in place could burden your loved ones with significant emotional and financial stresses in the future. Power of Attorney Mistake 6 – Not Creating Separate Powers of Attorney for Medical and Financial Matters Depending on the details of a person’s situation and his own needs, it may be best for an individual to create two different powers of attorney – a durable financial power of attorney and a durable medical power of attorney. In fact, in these cases, developing two separate powers of attorney... --- - Published: 2014-07-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/6-mistakes-to-avoid-when-developing-a-power-of-attorney-pt-1/ - Categories: Estate Planning, Powers of Attorney Powers of attorney are essential components of any comprehensive estate plan, as they provide specific plans for what should be done in the event that person becomes incapacitated in the future. While powers of attorney can be tailored to a person’s specific needs and wishes, they can range from being very limited in their powers to being extremely detailed and empowering. Not updating a power of attorney is a common mistake people make. When you are ready to develop a power of attorney, contact Colorado Estate Matters, Ltd. It’s important, however, to point out that the process of developing a power of attorney can be just as critical as having this authority in place. In fact, if people do not take the time to develop a proper power of attorney that appropriately covers their wishes and needs, they could end up creating more challenges for themselves or their loved ones in the future. In this three-part blog, we will discuss some of the most common mistakes that are made when people are developing powers of attorney. If you have some specific questions about creating a power of attorney for yourself and/or are ready to move forward with this critical estate planning step, do not hesitate to contact the Denver estate planning lawyers at Colorado Estate Matters, Ltd. Power of Attorney Mistake 1 – Not Updating a Power of Attorney Simply having a power of attorney does not necessarily mean that this is the end of the estate planning process. Because... --- - Published: 2014-04-25 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/estate-planning-documents-that-many-can-use/ - Categories: Estate Planning, Powers of Attorney, Wills Colorado individuals may exercise more control over their assets and other arrangements when they take a proactive step by establishing an estate plan. This often consists of several documents that work together to provide greater control over the person’s estate, finances and health. Estate planning commonly starts with a last will and testament. This document allows a person to make important decisions regarding the disposition of their property. It also allows individuals to make provisions about what they prefer to happen to their children and pets. Without this document in place, the state of Colorado makes these important decisions through laws of intestacy. Because wills become public record through the probate process, confidential information should not be included in them, such as passwords for bank accounts. As important as a will is, it does not always take precedence over other documents. For example, a beneficiary designation form for a life insurance policy overrides any different instructions that are included in a will. These forms should be kept in conjunction with other estate planning documents. Estate planning is also about being proactive for medical crises. If a person becomes incapacitated, a living will can provide directives regarding health care. Additionally, a health care power of attorney could provide another person with the legal right to make decisions regarding the health care treatment and information for another individual. These documents can be as broad or narrow as the person wants them to be. Individuals who want more control over their finances in... --- - Published: 2014-04-10 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/leaving-the-colorado-family-fortune-well-attended/ - Categories: 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 when faced with the responsibility of sudden high net worth. Wastefulness may occur, turning once cherished heirs into lazy, listless individuals. Worse, there could be creditors or ex-spouses waiting to take advantage of beneficiaries by positioning themselves to get their share regardless of how unfair it may seem. Managing the distribution of assets under the careful crafting of a trust protects both the family and the assets. Various clauses included in the construction of a protection trust allow it to function in a prescribed manner. A discretionary clause may call for implementing a trustee who is able to make trustworthy decisions regarding how payments are made. A family trust has a standard means of creditor protection if an estate planner uses a spendthrift clause, although it is not absolute. Milestone or stepping stone trusts institute a gradual payment plan that allows a young beneficiary the opportunity to mature over time. The goal is to encourage a useful, productive life while preserving incentives. These are just a few of the conditions used when crafting protective trusts, and while it may not be possible to think of every contingency, it is clear to see there are methods... --- - Published: 2014-03-24 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/estate-planning-critical-for-passing-assets-to-loved-ones/ - Categories: Estate Planning, Trusts, Wills Residents of Colorado can arrange for the distribution of their assets after death by taking a few critical estate planning steps. Estate planning is the process of determining how each asset will be distributed after one’s death and to whom those assets will be distributed. Experts say the planning process is extremely important, especially if an individual has specific estate planning goals. Estate planning is important for anyone with substantial assets or with dependents. However, it is especially important for those who are living together but not married. These individuals may want to pass on their assets to their partner in much the same way a married couple would. However, in the absence of a will or testamentary trust state intestacy laws would govern their distribution, which would likely not be in the manner that the decedent intended. A valid will or trust can help them make sure that their assets are passed on in accordance with their wishes. Estate planning is also important for those who have been married multiple times and have children from previous marriages. Without an estate plan in place, their assets may flow directly to their current spouse, cutting their children out of the loop. A will could be used to direct assets to the appropriate loved ones. If the children are minors, a trust may be appropriate to make sure any assets they received are carefully managed until they attain legal age. For many individuals, a basic will may be sufficient. However, unique situations... --- - Published: 2014-03-13 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/important-aspects-of-estate-planning-to-keep-in-mind/ - Categories: Estate Planning, Trusts, Wills Colorado residents who are contemplating an estate plan may be interested in an article on CNBC that examines some key points of the process. Addressing these issues may help ease any burden on the family after the passing of a loved one. Having a will can make the process of dealing with an estate much easier for the family of the deceased. Additionally, the existence of a valid will means that the state does not make any of the decisions regarding how the estate is apportioned. Some important issues should be covered in any estate planning scheme. First, the will should address who will be the guardian of any minor children should the parents pass away. This can help to avoid fighting over custody, however well-intentioned, between relatives who wish to care for the children. Also important in estate planning is the creation of trusts. A trust is an estate planning vehicle that places assets in the hands of a trustee for the benefit of another. There are two main types, revocable and irrevocable. The main difference between them is that a person may still be able to make changes and updates to a revocable trust, whereas irrevocable trusts cannot be changed and have some tax and other advantages. Another crucial consideration to make is whether to have a heath care proxy. This entrusts another person to make health care decisions in case of incapacity. Failure to properly address these and other estate planning concerns can lead to family disputes,... --- - Published: 2014-02-28 - Modified: 2024-09-11 - URL: https://www.coloradoestatematters.com/blog/common-mistakes-made-in-wills/ - Categories: 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 are made when people write their wills. First, the wording may not be clear. If it is not, the will could end up being interpreted incorrectly in probate court. For instance, the document could accidentally disinherit children from a previous marriage or contain vague language about family, which could lead to assets being divided between too many people. Another common mistake by people dealing with end-of-life decisions is failing to update their wills. Major life changes should always prompt a review of the will and an amendment if needed. This includes divorce, births, adoptions and marriages. One should review other documents that are related to a will as well, such as beneficiaries or payable on death documents. Often people will get married and create a new will, but they will forget to change their life insurance or retirement documents. Keeping the original will in a safe place that at least one family member knows about is important. Sometimes the will is kept in a safe deposit box, and a will search is conducted. In this case, it is turned over to a county probate court. A will may be one of the most important documents... --- - Published: 2014-02-13 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/planning-tips-from-paul-walkers-estate/ - Categories: 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 divided nearly evenly between liquid assets, potential future earnings and real estate. His daughter, Meadow, was named as the sole beneficiary of all his assets. While the details of the trust are private, probate information, including the amount and beneficiary, are public. While common thought would lean toward naming a child’s mother as the overseer of the trust, Walker instead named his mother as the trustee. If there is a problem with a trustee, a second person could also be named. There are conflicting reports about whether Meadow was living with Walker’s mother when he died. Walker demonstrated the benefits of a trust and included a will under the umbrella of a trust, which is a good idea for most people. A trust helps avoid a lengthy probate process. In addition, Meadow will probably receive the money over time, although the details are not certain. In this case, Walker funneled all of his assets through his will into his trust. However, a will is public information. Walker organized his finances when he was only 28 and did not put off this important financial matter. However, he did not update his trust for a dozen years,... --- - Published: 2014-01-31 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/estate-planning-concern-over-tax-penalties-eased-by-portability/ - Categories: 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 permanent option for taxpayers in the American Taxpayer Relief Act of 2012. Portability was hailed as a rule designed specifically to help the estate administration needs of the 99 percent of Americans who don’t have hundreds of millions of dollars or more. The concept allows surviving spouses to carry over their most recently deceased husband’s or wife’s estate tax exemption and add it to theirs. Its unsexy moniker is the deceased spousal unused exclusion amount. Most professionals refer to it as the DSUE amount. What this means is that couples can move $5. 34 million each without any tax penalty for a total of $10. 68 million when both accounts are considered. The amount that is to be tax-free will be adjusted every year for inflation. Thus, the $5. 34 million portable today will be $8. 95 million by 2034. Portability sounded a big change in estate planning because spouses no longer have to use a bypass trust or retitle any assets in order to take advantage of some valuable financial instruments. Also, the change doesn’t affect the unlimited marital deduction, which means one spouse can give the other an uncapped amount with no taxes... --- - Published: 2014-01-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/veterans-benefits-can-help-with-long-term-care-costs/ - Categories: Elder Law Many veterans are eligible for VA pensions to help pay for assisted living, nursing homes, and home care. There are different levels of pensions but Aid and Attendance and Housebound cover long-term care. However, many do not understand what is available and how to apply. The facility does not have to be a VA facility nor does it have to be VA certified. The veteran can also choose any home care provider. Requirements: The veteran must have served at least 90 days, and at least 1 of those days must have been during a wartime as established by Congress. The veteran must be at least 65 years of age or if younger than 65, completely disabled. The disability must be non-service connected. To be eligible for Aid & Attendance, the veteran or their surviving spouse must require help with activities of daily living (ADL) at home, in a nursing home, or assisted living. For Housebound benefits, the veteran must have a disability rating of 100% which prevents them from leaving their home. A veteran’s countable income must be less than the pension amount for which he or she is eligible. He or she will receive the difference between the pension amount and their countable income. Medical related expenses should be deducted from the income. These medical expenses include cost of skilled nursing, assisted living, home health care, and Medicare or other insurance premiums. For purposes of Aid and Assistance qualification, “assets: include bank accounts, stocks, bonds, mutual funds, and other... --- - Published: 2014-01-07 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/leaving-money-to-disabled-individuals/ - Categories: 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 Supplemental Social Security Income and Medicaid benefits at risk. Those benefits are based on income and assets. If they are left money in a will, they can apply for benefits again once their property is diminished, but this can be a time-consuming and trying process. For people receiving these types of benefits, trusts are usually advisable. A trust can ensure that someone is able to take advantage of assets left to them without the property being directly in their name. There are certain trusts that can be set up to comply with SSI and Medicaid, and they must follow specific guidelines. Some of the requirements are that a trust must be set up with a sole beneficiary and it cannot be changed, and the trust must have a trustee that is not the settlor. Additionally, funds can not be used for basic life needs, such as food. Trusts can do a variety of things that wills cannot, but they must be set up correctly to work as intended. If a trust is not set up appropriately or does not meet legal standards, it could end up being invalidated or the cause of costly and time... --- - Published: 2014-01-02 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/2014-goals-and-estate-planning/ - Categories: Estate Planning, Firm News 2014 is here and many people are setting their goals, resolutions and to do lists for the year. For some the standard things are topping their list: weight loss, better job, and more time with the family are a few of the ones we hear the most. Perhaps you should consider a goal that will benefit your loved ones the most. Getting your Estate Planning done is something that you don’t see the fruits of. The people you love and trust the most will be the ones who benefit the most. Each month we get between 20 and 30 calls from people who have lost a loved one or are having to deal with capacity issues of a loved one. Sometimes there are documents in place and we can help administer things relatively easily. Other times there is nothing and we have to scramble to do things through the court system and help work out issues amongst the various family members. A recent caller had been dealing with aging parents and one was declining faster than the other. By the time we got called for help the one parent no longer had capacity to execute the documents they needed and the other parent was heading down the same road. The only option left to them was the most expensive and time consuming one. Many people incorrectly think that they can wait until they need the documents to get them. It helps to think of Estate Planning documents as insurance. While... --- - Published: 2013-12-19 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/keeping-estate-planning-current/ - Categories: Asset Protection, Estate Planning, Wills Wills are not the only estate planning documents used in Colorado that provide for a transfer of assets after the death of the owner. Many types of accounts include beneficiary designations that will govern the disposition of the property in those accounts, even where contrary provisions are made in the will. This would include bank accounts, insurance policies and retirement plans. A change in family or financial circumstances often results in a corresponding change to a person’s wishes regarding the ultimate disposition of property. Estate planning concerns can be somewhat alleviated by making sure that these beneficiary designations are kept current and reflect those changes. One obvious change would be divorce or remarriage. Although some states have laws that eliminate former spouses as beneficiaries, not all do. If a change of jobs has occurred and a retirement plan has been rolled over into a new plan, beneficiaries must be named for the new plan. Another scenario in which a beneficiary must be changed is if a primary beneficiary dies and there has been no secondary beneficiary name. The merging of financial institutions such as mutual funds, brokerages, or banks will sometimes cause older accounts beneficiaries to be discarded. Another reason to want a change would be the birth of a child or grandchild or the disability of a beneficiary. Beneficiary designations that are outdated can often be at conflict with the wishes of the decedent and can harm an otherwise sound estate plan. They can also create unnecessary delays in... --- - Published: 2013-12-11 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/updating-estate-planning-documents-after-a-divorce/ - Categories: Estate Planning, Wills Once a divorce is final, both parties are likely to want to move along and think about things other than the endless paperwork that was involved in the process. However, it is important to take the time to deal with estate planning concerns that may result from a newly single status. One of the first things that may need to be considered is an existing will. In many states a divorce makes any will null and void, which does avoid the problem of an ex-spouse unintentionally inheriting but also leaves the newly divorced person intestate. In the absence of a new will, state law will determine where the estate goes, with results that could be different from what the deceased actually wanted. It can also be important to remove the ex-spouse as a beneficiary on brokerage accounts, life insurance policies, retirement plans and annuities. These type of designations will generally supersede what is specified in a will, so an ex-spouse can still inherit these assets if the beneficiary designations aren’t changed. The U. S. Supreme Court ruled recently in favor of an ex-wife who benefited from a life insurance policy her ex-husband had never changed. The couple had been divorced for ten years, and he had been remarried for six. While Virginia law said beneficiary designations are void at the time of divorce, it was a federal life insurance policy and thus federal law preempted the state statute. It is not often easy to work through financial issues during and... --- - Published: 2013-11-27 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/the-estate-planning-puzzle/ - Categories: Estate Planning, Firm News Think of your Estate Planning like a puzzle. Some of us have 100 piece puzzles and others have the 5,000 piece puzzle. Many people come to our seminars and office focused on either tax savings or probate avoidance. Both can be important pieces of the Estate Planning puzzle but for a large majority of clients the human dimension is the driving factor. How much easier is a puzzle once you have all the edge pieces in place? Getting a vision of what the final plan is going to look like helps you build it correctly. You know your family better than anyone. If your gut says this may become a problem later or this kid is going to be an issue, then trust your instincts and plan for it. I am still amazed at how many families have problems once the parent who held everything together passes. There are power struggles over the biggest and littlest things and the remaining parent, who still needs to grieve, gets stuck in the middle. Take the time and lighten the burden from your loved ones. Your attorney needs to be able to talk you through the thought process and play devil’s advocate with you to make sure you think about all the human issues your situation. Unexpected events do happen. If any of us knew when our last day would be, or the exact time we may become mentally disabled, then we could just get everything into place the week before. Since we... --- - Published: 2013-11-07 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/jackson-estate-sued/ - Categories: 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 Jackson’s solo albums, “Thriller,” “Bad” and “Off the Wall. ” The statement also asserts that Jones has been appropriately compensated for all of his efforts. Jones is seeking at least $10 million from the Jackson estate and Sony Music Entertainment. His lawsuit alleges that songs were re-edited in order to deny him the royalties and fees to which he was entitled. He alleges that “Billie Jean,” “Don’t Stop ‘Til You Get Enough” and “Thriller” were some of the songs that were re-edited to deprive him of compensation. Other music for which he seeks compensation is that which is included in the movie “This Is It,” as well as music that is part of two different Cirque du Soleil shows. Additionally, Jones asserts that he should have received a producer’s credit on the music that was part of the film. He is asking for an accounting of the profits that the estate has received to help him to determine the amount that he is owed. While much of the controversy surrounding the administration of Jackson’s estate is not likely to affect the estates of others, many aspects related to probate administration can be contentious. A lawyer... --- - Published: 2013-10-23 - Modified: 2024-06-24 - URL: https://www.coloradoestatematters.com/blog/middle-age-financial-mistakes-that-keep-seniors-from-aging-well/ - Categories: Estate Planning In Colorado and throughout the nation, those in their 50s feel younger and more vibrant than they did a few generations ago. This false sense of security causes many in their 50s to make financial decisions that could negatively impact them as they age. Those in their 50s should make attitudinal changes to ensure a better life in their 80s and beyond. These changes begin with estate planning, and it is vital to work with a team you can trust. Our Denver estate planning attorneys offer years of experience, education, and a personal touch. We are dedicated to helping you plan your estate in a way that makes you comfortable and fits your needs. Financial checklist for 50 year olds When deciding the right financial goals for 50-year-olds, our team likes to start with a checklist of actions to understand where the client is and where they are heading in life. Those with excellent health and strong financial holdings will have a different path from those needing substantial medical care or many obligations. Our estate lawyers are prepared to guide you without judgment, searching for the best solution no matter your situation. Schedule a meeting with a professional to make a financial inventory Taking an honest look at what you have and what you expect in the future can be uncomfortable, but it’s the most important step. According to a survey by AARP, 20% of Americans over 50 do not have any retirement savings. Over 60% of the respondents worry... --- - Published: 2013-10-11 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/spendthrift-trusts-and-asset-protection/ - Categories: 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 beneficiary. The trustee is an independent third party, and distributions of the trust are restricted. One benefit of spendthrift trusts is that claims against the trustor will not reach the trust’s assets, as the trustee is deemed the trust’s legal owner. When people want to set up this type of trust for their parents, they should consider how much money they will need each month, how they will fund their lifestyle, what liabilities they face and what type of insurance they have. As an example, a couple who is retired with a paid off home, who eats out four times a month and travels once every six months probably needs about $90,000 annually to sustain their lifestyle. If they travel more, eat out more or give family members extra money, they will increase their financial needs to about $150,000 yearly. If they have combined Social Security income of $50,000 annually, they would need an additional $100,000 each year in order to maintain their lifestyle. The couple would need about $2. 2 million invested wisely in order to earn $100,000 annually in interest if they received a conservative annual 4. 5 percent return on their investment.... --- - Published: 2013-09-24 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/estate-planning-should-be-done-early/ - Categories: Asset Protection, Estate Planning, Powers of Attorney, Wills Estate planning is often associated with retirement, but getting affairs in order earlier in life can ensure that an individual is prepared for life’s uncertainties. Regardless of how much a person is worth, they should begin the process of estate planning as soon as possible. Especially for those with young children, setting a financial plan in place can ensure that the kids are taken care of. Even for people who have little or no assets, a plan is critical since every dollar is important. Before planning an estate, a person should discuss their wishes with their loved ones to make sure that everyone is clear on how assets should be divided and the reasons why. It’s also important to have life insurance, a will, a living will and a durable power of attorney in place to protect the family in the event of a premature death. For young people especially, life insurance is crucial since they likely have not yet had time to accumulate wealth. After life insurance has been secured, a will should be drafted to spell out exactly how assets are to be distributed. It should outline what each beneficiary is to receive, who is to be responsible for managing financial affairs and who should take care of any minor children in the event of a parent’s death. A power of attorney should also be established in the event of a condition that leaves the individual unable to make medical and financial decisions for themselves. Individuals should consult... --- - Published: 2013-09-13 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/certain-documents-should-accompany-every-estate-plan/ - Categories: Asset Protection, Estate Planning, Estate Taxes, Medical Directives, Powers of Attorney, Trusts, Wills Planning for one’s death is never pleasant; however, as many Colorado residents may already know, it is often a fact of life. This is especially true when there are numerous assets that must be given away as part of one’s estate. An authority on the subject in a recent piece provided some guidance on which documents should be included in every estate plan. The first major document that is recommended for inclusion is a will or living trust. Depending on the person’s individual financial situation, either could be appropriate. A will does not deal with issues of taxation, but a trust does. A trust is a better option, generally, for those who may be hit with estate tax or have some other special situation. The important thing is that there is a document to direct dispensation of assets; the alternative is leaving the estate to be divided by a state law scheme. Other documents recommended by experts include those that dictate what should be done should a person become incapacitated. An advanced medical directive, otherwise known as a living will, is helpful should a person no longer have the ability to make medical decisions. This document will avoid burdening family members with choices such as whether or not to remove life support. A durable power of attorney is also important as it allows another person to write checks and handle financial matters in the event of incapacity. Having all of the proper estate planning documents is extremely important in order... --- - Published: 2013-09-05 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/make-sure-beneficiary-designations-are-current/ - Categories: 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 in financial account paperwork, generally the financial asset paperwork takes precedent over the will. There are two types of beneficiaries. The first is called the primary beneficiary. This person, generally a spouse, becomes owner of the assets immediately upon death. The second type is called the secondary beneficiary. This person becomes the beneficiary should the primary die before the original owner of the asset. One of the big issues with beneficiaries is that once they are set up, they are seldom updated. For example, an investment account that was set up decades ago may have beneficiary designations that are no longer desired or appropriate. Life events of marriage, divorce, birth and death drive the need to periodically update the beneficiaries named in financial asset paperwork. When no beneficiaries are named, the assets could become part of an estate and result in costly probate expenses, taxes and delays in distributions. Whenever there is a major life event in a person’s family, it is a good idea to review the beneficiary designations that were established. An attorney may be able to address estate planning concerns and establish a regular schedule of beneficiary review. This may help ensure... --- - Published: 2013-08-28 - Modified: 2024-06-24 - URL: https://www.coloradoestatematters.com/blog/approaching-aging-parents-about-financial-matters/ - Categories: Elder Law, Estate Planning Navigating financial discussions with your aging parents doesn't have to be daunting. At Colorado Estate Matters, we're here to guide you through these sensitive conversations with compassion and expertise. Let's make this journey smoother for you and your family. Call (303) 713-9147 to schedule a free consultation with a Denver elder law attorney and discover the best ways to support your parents' financial needs as they age. How to talk to aging parents about finances Some families may find it difficult to discuss subjects like finances and end-of-life care. One suggestion is to use other people’s experiences. An event happening to someone close to the family could facilitate the start of a conversation between aging parents and their adult children. Often, personal events serve as triggers for individuals to start considering what they might do in similar situations. Another suggestion involves adult children getting their own financial house in order. Again, things become personal when they involve loved ones, and aging parents may be more receptive to discussing financial matters if they see their children preparing their paperwork. When parents open up, they should be talked to as peers rather than people incapable of handling their business. While family dynamics can complicate matters, a smart approach should make these conversations less difficult. After bringing up the topic, those with aging parents may want to seek out the assistance of an attorney. An attorney can help parents and children prepare necessary financial documentation, healthcare directives, and wills. They can also listen... --- - Published: 2013-08-23 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/include-provisions-for-aging-in-estate-planning/ - Categories: Asset Protection, Estate Planning, Medical Directives, Powers of Attorney, Wills People in Colorado who are engaged in their estate planning might want to include provisions denoting how they want their estates handled if they become unable to make financial decisions themselves in their living wills. Because more and more Americans are living longer, it is more important than ever now for people to plan for who will be in charge of their estates if they can not do it themselves. There are some barriers that families may face in approaching the topic of estate planning. First of all, the owner of the estate might be reluctant to have a conversation about possibly needing help making financial decisions. He or she might be embarrassed or defensive about having to ask family members for help. In other cases, the estate owner might be in denial that he or she needs help even if he or she is exhibiting all the signs of being unable to make financial decisions alone. Then, there might be cases of sibling rivalry that makes it difficult for the family to denote who would have power of attorney if the need arose. When family members become mentally unable to make sound financial decisions themselves, their loved ones should find out as much information about the condition causing the problem as possible. After that, they should help them come up with estate plans by conducting an inventory of assets, consolidating accounts to manage transactions better, and designating power of attorney. Once that is done, family members should divide up... --- - Published: 2013-08-15 - Modified: 2024-03-18 - URL: https://www.coloradoestatematters.com/blog/fastidiousness-is-key-to-writing-a-will-in-colorado/ - Categories: 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 after his or her death. In order to streamline the process, one Colorado financial advisor recommends preparing certain information prior to working with a lawyer to draft a will. Creating a comprehensive catalogue of possessions, assets, and debts is the first step toward formulating a will. This catalogue may help to determine whether the estate is worth enough to cover existing debts and to outline which portion of the estate each beneficiary should receive. In addition to listing beneficiaries, testators should also name their primary and secondary executors (assuming that these friends or family members have agreed to be executors). After a testator’s death, an executor takes control over fulfilling the will, including arrangements for minor children. Therefore, it is important for a testator to specify instructions for his or her children’s care, such as preferred guardians, so the state does not determine their living situations after the testator’s death. Executors should also know the location of the finalized will. Working with an advisor to draft a will can ensure that it is completed correctly and thoroughly so it can be enforced by a lawyer knowledgeable in probate administration after the testator dies. Even Colorado... --- --- ## Faqs - Published: 2024-05-14 - Modified: 2024-05-14 - URL: https://www.coloradoestatematters.com/faqs/what-are-the-essentil-documents-for-estate-planning/ - Faqs: Estate Planning In Colorado, a comprehensive estate plan encompasses more than just drafting a will; it involves creating documents tailored to protect you, your assets, and your family's future. Let's explore these essential documents, offering not only peace of mind but also a solid foundation for your estate plan. Ready to get started on a comprehensive estate plan that covers all your and your family’s needs? Contact our Denver estate planning attorney today. What documents should I include in my estate plan? 1. Will A cornerstone of any estate plan, your will specifies how you wish your assets to be distributed after your death. It's your voice when you can no longer make your wishes known. This document allows you to designate an executor or a guardian for minor children and make specific bequests to loved ones. In Colorado, the will must adhere to the state's legal requirements to be valid. 2. Living Will A living will, or advance healthcare directive, addresses your preferences for medical treatment in serious health situations where you cannot communicate your decisions. Colorado law respects these directives, ensuring that your wishes regarding life-sustaining treatment are honored. 3. Healthcare Power of Attorney This document appoints a trusted person to make healthcare decisions if you're incapacitated. It's a crucial component that complements your living will, covering broader healthcare decisions not specified in the living will. Colorado's guidelines ensure your agent can act in your best interests. 4. Financial Power of Attorney A financial power of attorney grants someone you... --- - Published: 2024-02-21 - Modified: 2025-04-15 - URL: https://www.coloradoestatematters.com/faqs/what-is-a-probate-bond/ - Faqs: Probate Probate bonds are legal protection afforded to the estate's beneficiaries, heirs, and creditors, offering financial security from a breach of fiduciary or trusted duties by the estate's administrator, executor, guardian, or conservator. You can learn how these may apply to your situation by speaking with an experienced Denver probate lawyer at Colorado Estate Matters, who can answer the question of what is a probate bond and provide you with the confidence that an estate or the estate is appropriately administered and protected. We offer representation for personal representatives, beneficiaries, or the estate of a loved one. Colorado Estate Matters can assist with any concerns during probate and provide court representation if necessary. What is a situation when a probate bond would be used? A probate bond ensures the fiduciary or trustee of a will or estate will conduct business according to Colorado law and the conditions of the will or trust. A probate bond also protects a fiduciary (§15-1-103(2)) against accusations of mismanagement. Probate bonds may also be referenced as executor bonds. The estate’s fiduciary will apply for the bond with a surety company and undergo a credit check before approval. A surety company may reject an application of a fiduciary or request more collateral before issuing a probate bond to someone with a poor credit rating. Consider this example: Jane is named the fiduciary of her sister’s estate valued at around $1 million. Jane enjoys online shopping, incurring excessive credit card debt while failing to meet her minimal credit... --- - Published: 2024-02-07 - Modified: 2025-04-01 - URL: https://www.coloradoestatematters.com/faqs/what-happens-to-your-online-accounts-when-you-die/ - Faqs: Estate Planning These days, every move we make has a digital component. Our bank accounts and bills are online. We put our memories on photo-sharing websites and even share our thoughts with hundreds of people on Instagram or Facebook. Knowing how to set yourself up for success with your estate planning can set you in the long run. We need an account to engage in these activities, and each account has an ID and password. We are told this information should not be stored online or written down where it is easily found. These cryptic combos of uppercase letters, numbers, and symbols may be our best-kept secrets. But what happens when we die or become incapacitated? A fiduciary, trustee, or executor may need to access those accounts, but how? How to designate a successor for your online assets Draft a Power of Attorney (POA) to name someone you trust to manage your online assets if you’re incapacitated or to access online accounts after death. Your POA designee may be able to access your social media, online store, online banking, stock trading (including cryptocurrency), or gambling accounts. In addition to the durable POA, your representative may need a digital asset authorization and consent form to access and manage certain accounts. Simply giving your password to your will executor or a trusted friend may not be enough to permit them to manage your online assets legally. Whatever that individual does must comply with the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA). This... --- - Published: 2024-01-24 - Modified: 2024-05-15 - URL: https://www.coloradoestatematters.com/faqs/assets-and-medicaid-planning/ - Faqs: Elder Law When planning to receive Medicaid benefits, it’s critical to have a Medicaid asset protection plan in place to ensure you’ll receive high-quality care while protecting the savings you’ve worked hard to collect. A Denver elder law attorney can help you with proactive Medicaid estate and asset protection planning. At Colorado Estate Matters, we can guide you through the complex process of protecting your assets while transitioning to Medicaid. Why do I need Medicaid asset protection planning? Before Medicaid covers your long-term care costs, you must exhaust a large portion of your assets. You must have income and assets under a certain threshold to receive long-term care. Your income limit is determined by the care you need. However, it is usually around only $2,000 for an individual. Not all assets are counted toward your limit. A non-countable asset is your personal belongings, one vehicle, and your primary residence. However, your primary residence is not exempt from the Medicaid Estate Recovery Program (MERP), which receives reimbursement for care from whatever is left in your estate, such as your home. The requirement to exhaust most of your assets often leaves you with little to no savings for your beneficiaries. As such, you need help from an elder law and Medicaid asset protection planning attorney to help you proactively plan for the future. What steps should I take to ensure a smooth transition to Medicaid? If you’re planning to transition to Medicaid, there are steps you can take to help you arrange and manage... --- - Published: 2024-01-10 - Modified: 2024-05-15 - URL: https://www.coloradoestatematters.com/faqs/what-are-the-steps-in-the-probate-process/ - Faqs: Probate When a person passes away, their personal representative is held responsible for administering their probate estate. To open and administer the decedent’s estate, they must go through the probate process. This process can be daunting without help from a Denver probate lawyer from Colorado Estate Matters. How does probate work in Colorado? The purpose of probate is to establish a complete record of all a decedent’s assets and debts. Generally, a personal representative, or executor, is tasked with the duty of settling and distributing a decedent’s estate. Through the probate process, they have several primary duties, including gathering the decedent’s assets, reviewing claims filed by their creditors, and paying their debts and final expenses. Once these actions are finished, the personal representative can begin distributing the remaining assets to the decedent’s heirs or beneficiaries. What are the probate actions in Colorado? There are three main probate processes in Colorado. These processes have the same goals, but the way each works is different. The main probate actions in the state are: Small estate process: This includes estates that have less than $80,000 in personal property and no real property. Informal estate process: This includes estates that are uncontested and typically include a valid will or, in cases where the decedent dies without a will, no contests are expected. Formal estate process: This includes estates involving wills that are contested, unclear, or invalid. It may also apply to situations involving difficulties identifying heirs or disputes with property titles. What are the steps... --- ---