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
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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Estate planning for married couples in Colorado can be tricky when one spouse is significantly wealthier than the other and each spouse wants different beneficiaries to ultimately inherit their estate. One solution to this problem is the Lifetime QTIP (Qualified Terminal Interest Property) Trust. Continue reading
Planning For Your Parents in Your Estate Plan
If you are part of the baby boomer generation in Colorado (born between 1946 and 1964), you may also find that you are a member of the sandwich generation, with responsibilities to both your parents (now or in the future) and your children. This should change the way you think about estate planning–instead of the traditional approach of how to leave assets to your children and future generations, you may also need to include providing for the previous generation (your parents). Continue reading
Comprehensive estate planning in Colorado is about more than your legacy after death, avoiding probate, and saving on taxes. At Davis Schilken, PC, we believe that it must also be about having a plan in place to manage your affairs if you become incapacitated. Continue reading
3 Powers to Consider Giving to a Trust Protector in Colorado (Estate Planning)
Many of the estate plans Davis Schilken prepares for clients 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.
While it’s not unusual for an original last will and testament to be misplaced, it is when your daughter happens to be the Register of Wills for Baltimore City.
What is a Register of Wills? Continue reading
One way to avoid probate of real estate after the owner dies is to hold the title to the property in joint names with rights of survivorship with children or other beneficiaries. This may be accomplished by adding the names of the children and certain legal terms to a new deed for the property and then recording it in the applicable public land records.
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While approximately 10,000 cases are appealed to the U.S. Supreme Court each year, only 75 to 80 make it to oral argument. Of those cases, only a handful grab the media’s attention. Below is a summary of three landmark decisions handed down in 2015 that could affect how you are taxed, pay for healthcare, and plan your estate. Continue reading