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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...
Make estate planning simple with these 3 steps
When you start to get older, you may realize that you need an estate plan. To begin with, your estate plan may be able to be minimal, containing just a will or trust and powers of attorney. You might also opt to have an extensive estate plan that goes into great...
Parents who plan their estates
With newborns on the way, parents need estate planning in order to provide future security for themselves and their children. In Colorado, estate planning ensures that your children have a clear path toward a full life when you’re not around to help them. Planning...
The potential benefits of a revocable trust
If you are an adult living in Colorado, it may be in your best interest to create a revocable living trust. This is because it will allow you to protect important assets from being seized while still retaining control over them. As the document takes effect as soon as...
Tips for protecting your estate if you become incapacitated
If you own property in Colorado, it's generally a good idea to account for it in your estate plan. It isn't uncommon for items held inside your estate to pass to beneficiaries per the terms of a will. However, a won’t take effect until after you pass. Therefore, it...
The benefits of charitable trusts
Instead of leaving everything to their family members, many people in Colorado leave a portion of their estate to their favorite charity. Forming a charitable trust is a great way to support your favorite cause long after you're gone, and it also comes with a set of...
Does cryptocurrency need to go through probate?
Generally speaking, assets that remain in your Colorado estate upon your death are subject to probate. The same may be true for assets that were held outside of an estate but were unable to be distributed to a beneficiary. Therefore, if you owned cryptocurrency at the...
5 life changes when you should update your will
You pride yourself on planning ahead and taking care of important financial matters. You do your best to be ready for the road ahead, so you completed your estate plan years ago, shortly after your last child was born. Yet, life changes and you may want to change your...