A will is an important document to secure a testator’s legacy. However, complications may arise when an estate plan only has a will, such as probate, challenges and estate taxes. A trust can be made to protect an inheritance. A trust is an arrangement with a grantor...
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Estate Planning
Naming the right guardian is a key parental responsibility
Becoming a parent means taking on a broad assortment of responsibilities. Parents have the daunting task of keeping a newborn alive. They also have to consistently meet the basic needs of their children. Parents have a legal obligation to provide shelter, nutrition...
Understanding ancillary probate
Ancillary probate is a secondary probate process that occurs when someone owns property in more than one state at the time of their passing. While primary probate is conducted in the state where the deceased resided, ancillary probate may be required for assets...
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...
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 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...
Critical estate planning components
Many people know about the general importance of having an estate plan, yet many (understandably) don't understand the diverse elements that can potentially help an individual to construct one. When approached in a comprehensive fashion, an estate plan can serve as an...