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Beyond the will: Unveiling the power of trusts in your estate plan
When it comes to estate planning, a will is often seen as the cornerstone. But what if there's more to securing your legacy than simply dictating who gets what after you're gone? Enter trusts: versatile legal tools that offer a level of control, flexibility and...
What is a probate asset?
After someone dies, their property may pass to other people. It is common for adults to create estate plans designating specific beneficiaries to inherit their assets. Even if they do not plan ahead, certain family members become their heirs and can inherit their...
Important things to know about wills in Colorado
Creating a will is a crucial step when estate planning. It helps to ensure that your assets are distributed according to your wishes after your death. For residents of Colorado, there are specific considerations and legal requirements to be aware of. In Colorado, a...
What do you need to know about special needs trusts?
Anyone who’s creating an estate plan generally needs to consider how to hand down their assets in a way that benefits their loved ones. For some, an estate plan includes a will, as well as trusts. A trust is a legal entity that holds assets and then passes them down...
What constitutes undue influence on a Colorado will?
A Colorado will is a document that outlines what should happen to someone's property after they die. Wills can include provisions for memorial services or the care of dependent family members. For many testators in Colorado, a will might be the only document they have...
How a pet trust can help ensure the well-being of your animals
Too often, people don’t include their pets in their estate plan because a relative or friend has promised they’ll take them in if they outlive their person. Others just assume a family member will take them. Anyone who works in an animal shelter or rescue organization...
How can people know if it’s time to update their estate plans?
A comprehensive estate plan can help to protect someone’s interests if they experience sudden medical challenges. It can also provide support for vulnerable family members. Those who invest in the creation of wills, trusts, powers of attorney designations and other...
What is a probate petition, and who can file one?
Probate petitions are a crucial aspect of navigating the legal waters after the passing of a loved one. A probate petition is a legal document filed with the court to initiate the probate process. Probate is the legal process of administering the estate of a deceased...
What are irrevocable and revocable trusts?
Trusts are critical instruments in estate planning that serve distinct purposes and offer different benefits. Understanding the two primary types of trusts is crucial for effective estate management and ensuring that assets are distributed according to one's wishes....
Who should manage a supplemental needs trust in Colorado?
Those who have family members with special needs have to think carefully about decisions that others may take for granted. For example, estate planning is often a very simple process for many adults in Colorado. They create an inventory of their resources and personal...