Having money, as they say, is a good problem. Most people, when asked why it’s important to them to have money, answer in terms of not just what it can do for them, but for their loved ones. Money allows us to provide for our families, travel and have other experiences with them, and provide our children with education and opportunities. Continue reading
Year: 2015
How to Deal With Grieving for Lost Loved Ones
As a probate and estate planning law firm, we necessarily deal with many families who have recently lost a loved one. We do our best to make things easier and less stressful for them by helping them handle the details of administering their loved one’s estate. Though we deal with the business aspects of a loss, we never forget that at the heart of things is a real person who was loved, and the very real grief of the people who are left behind. Continue reading
Planning for Same-Sex Marriages in Colorado
Marriage for gay couples has been legal in Colorado for some time. With the recent Supreme Court decision making same-sex marriage legal across the land, what does that mean for estate planning for same-sex couples? Now, like any other couple, couples in the LGBT community should incorporate planning for the future into the beginning of their married lives together. Continue reading
Why is Estate Planning Important?
If you asked one hundred people what estate planning is, chances are the majority of them would say something like, “making a will,” or “deciding how to leave your money to people when you’re gone.” These things aren’t wrong, as far as they go, but they’re only part of a much bigger picture. Continue reading
Planning for Blended Families in Colorado
Life is a book with many chapters, and sometimes, those chapters involve the end of one marriage and the beginning of another. New beginnings and the blended families they create can be wonderful, but they also can be complicated, and carry the potential for disputes. This is especially true when it comes to estate planning. Continue reading
When Is Probate Required in Colorado?
Like many other states, Colorado’s probate administration process often requires the personal representatives to administer the estate with court oversight and involvement. For that reason, it’s often desirable to bypass the probate system altogether if possible. Continue reading
What Is a Family Trust?
A “family trust” sounds like something for wealthy families, and it’s true that many people with significant assets do have a family trust. But you may know these trusts better as living trusts, and they can benefit families of all types, regardless of their level of income or assets. Continue reading
Do I Need Family Business Succession Planning?
Most people who start family-owned businesses do so with the future of their family in mind, with visions of providing a legacy and income stream for their children, grandchildren, and beyond. Yet research indicates that only thirty percent of family-owned businesses survive the transition from the founders to the second generation of owners; the survival rate decreases with each succeeding generation. A lifetime of hard work can dissipate in a moment without careful planning. Continue reading
3 Powers to Consider Giving to a Trust Protector
Today many estate plans contain irrevocable trusts that will continue for the benefit of a spouse’s lifetime and then for the benefit of several generations. Since these trusts are designed to span multiple decades, it is important that they include a trust protector who will have the ability to adjust the trust provisions as circumstances, beneficiaries, and governing laws change. Continue reading
How to Make a Family Meeting a Successful Part of the Estate Planning Process
You’ve made the hard decisions, your documents are signed, your trust is funded, a business succession plan is in place. Congratulations, you’ve finished your estate planning. But have you, really? Have you explained your planning to your family? Will they understand how your plan will work and what they may need to do if you become ill or when you die? Will they wonder why you made certain decisions? Continue reading