1658 Cole Blvd., Building 6, Suite 200, Lakewood, CO 80401
4582 S. Ulster St., Suite 103, Denver, CO 80237
Call Us: (303) 670-9855
Email: info@dslawcolorado.com
Financial Smarts Peak at 50, Here’s How to Protect Your Older Self
A recent study conducted by Texas Tech University concluded that the ability to make smart financial decisions peaks at age 50. This decline was observed in both men and women, making both sexes equally vulnerable to financial fraud as they age. Continue reading
Financial Firms Roll Out Form Aimed at Stopping Financial Elder Abuse
In Colorado, cases of financial exploitation of the elderly are on the rise. Advisors who work with older clients are looking for ways to head off the abuse before it happens. Enter the “Emergency Contact Authorization Form,” a document in which clients can list a trusted person who should be contacted if an advisor suspects a client is starting to lose their mental capacity or, worse yet, being financially abused or scammed. Continue reading
Estate Planning for Second Marriages
In first marriages, the couple generally has the same goals when it comes to their estate planning: take care of the surviving spouse for as long as he or she lives, then whatever is left will go to the children. In Colorado, they may own many of their assets jointly and, at the death of the first spouse, more than likely everything will go to the surviving spouse just as they had planned. Continue reading
Does Your Estate Plan Protect Your Adult Beneficiaries?
If you think you only need to create discretionary lifetime trusts for young beneficiaries, problem beneficiaries, or financially inexperienced beneficiaries, then think again. In this day and age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minors and adults alike. In Colorado, the experienced Probate and Estate Planning attorneys at Davis Schilken can help protect you and your loved ones in instances like these. Continue reading
Are you a Fiduciary?
A person named to administer either a Trust, an Estate, or both is known as a Fiduciary. The term Personal Representative is used for the individual tasked with administering the decedent’s will, or if the decedent did not leave a will, the individual appointed under intestacy law. The term Trustee is used for the individual tasked with administering the decedent’s Trust (Revocable Living Trust in most cases). Continue reading
Surprise! You Can’t Easily Disinherit Your Spouse in Colorado
Believe it or not, in Colorado it isn’t easy to disinherit your spouse. But the same is not true for other family members – generally, you can use your estate plan to disinherit your brothers and sisters, your nieces and nephews, or even your very own children and grandchildren. Continue reading
What Documents Do You Need to Find After a Loved One Dies?
In Colorado, after a loved one dies, you need to gather the important documents that are necessary to settle their final affairs. While the documents required will vary depending on what your loved one owned and owed. Locating documents is only the first of many steps that need to be taken in the administration of a loves one’s estate. The careful review, collection, payment, and distribution of assets is something that the team at Davis Schiken, PC is happy to discuss and assist you and your family with. Below is a list of common documents you will need to find: Continue reading
Paying for College . . . and Accomplishing Estate Planning Too
With higher education costs outpacing inflation by 5-6% per year, and the average cost of a four-year public school in Colorado at nearly $20,000 per year (double that for private schools) it’s no surprise that many parents and grandparents are deeply concerned about how they will pay for higher education. Many of these clients are similarly concerned about estate planning. Continue reading
Dispelling the Top 3 Estate Planning Myths for Coloradoans
Like any other complex subject, estate planning has its share of myths and misconceptions. Understanding the top three estate planning myths will help you to create and maintain a plan that will work the way you expect it to work when it’s needed in Colorado. Continue reading
Recently the IRS issued the final rules governing the “portability election” as it relates to the federal estate tax exemption. Married Colorado couples need to understand how these final rules may affect their existing estate plans, while recent widows and widowers need to understand how these finals rules may affect their deceased spouse’s estate.
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