Testators (those putting together estate plans) in Colorado frequently aim to keep things as simple as possible but that approach might leave them without adequate protection. Just having a will, for example, might mean that someone does not have the right support if...
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Estate Planning
3 ways Colorado testators can keep certain assets out of probate
In its simplest form, a Colorado estate plan might only contain a will, which serves to name a guardian for young children and to name beneficiaries for specific assets. When someone with a will dies, that document will likely determine what happens with their...
What does it mean to die intestate?
When an individual passes away without leaving behind a will, the legal term for this scenario is dying intestate. Dying intestate can result in numerous complications regarding how the deceased's assets and property get divided among surviving loved ones. A...
3 kinds of taxes that can reduce the value of a Colorado estate
Individuals planning their estates, adults tasked with probate administration and expectant beneficiaries anticipating an inheritance all have an interest in preserving as much of a testator's wealth as possible. Estate administration costs and personal debts are...
Estate planning components you should consider
All adults need to take the time to create an estate plan, but some are uncertain of where to start. Before you try to get your affairs in order, you need at least a basic understanding of what an estate plan can do and the tools you have available to make them...
What is the effect of claims of undue influence in probate court?
For many families, the reading of someone's will is merely a technicality. The family is already familiar with the wishes of the recently deceased individual. The documents that they leave behind when they die align appropriately with the wishes they had previously...
As the executor of an estate, where do you start?
You’ve been named as the executor of a loved one’s estate, and you’re honored to be trusted with the role – but you aren’t quite sure where you’re supposed to start. With relatives clamoring for your attention and eager to gain access to family heirlooms, priceless...
Dealing with out-of-state property in your Colorado estate plan
One of the primary goals for people when they create their estate plan is preventing their estate from having to go through a lengthy probate process. A number of estate planning tools and strategies can allow your assets to pass fairly seamlessly to loved ones and...
Yes, you should talk to your adult children about your estate
As a parent, you may not be sure if you want to inform your adult children about your estate. On one hand, you may feel like you want to explain your decisions to them. On the other, you may want to keep your plans quiet, because you might not want to have to have...
You may want to put your passwords in your estate plan
Imagine that you passed away today. You know all of your passwords and login information for bank accounts, social media, storage devices, investment portfolios, insurance policies and much more. Or, you at least know where you have written out these passwords so that...