The loss of a spouse is a devastating life event in its own right, but the loss can be compounded when there is confusion about a surviving spouse’s rights to the deceased spouse’s estate. Colorado has taken measures to protect the financial well-being of a surviving spouse, regardless of whether or not the decedent left a valid last will and testament. Continue reading →

When people are asked why estate planning is important, they frequently say it’s because estate planning allows them to pass on the wealth they’ve worked hard for to those they love most. This is a perfectly reasonable answer, but not all the things we value and pass on are tangible. Many people would say that the most important things they have to leave their family are their love and deeply-held values. For those people, preparing an ethical will is something worthy of consideration. Continue reading →

People set up trusts in order to protect assets and conserve them for beneficiaries. This protection is achieved by appointing a trustee to manage, invest, and distribute trust property. In an ideal world, the trustee acts wisely and in the beneficiaries’ best interests, and the beneficiaries are grateful for the trustee’s services and make only reasonable requests for distributions from the trust. Continue reading →

Less than a generation ago, when a person passed away, his or her important financial and personal information was typically found in one of a few places: a home or office desk drawer or safe, or a safe deposit box at the bank. Continue reading →

Elder law is a legal specialty focused on helping seniors and their caregivers make the best choices for their finances, care, and estate planning. As the eldest members of the Baby Boom begin to retire, and even the youngest have blown out fifty candles, the ranks of seniors in Colorado will continue to grow. It is important that older Coloradans, and their caregivers, have legal guidance that takes into account their particular needs. Continue reading →

It’s not uncommon for a Colorado resident to die, leaving behind heirs, but no estate to speak of. But what happens in the opposite circumstance—when a Colorado resident dies with assets, but no heirs to whom they can be distributed? The answer is found in Colorado Statutes section 15-12-914. Continue reading →

A trust is a means to set aside money or other assets for the benefit of one or more beneficiaries. The trust is managed by a trustee according to the terms of the trust document and state law. Trusts can reduce the tax burden on the creator of the trust and on beneficiaries, and are often used to avoid probate. Nearly all such trusts end at some point, with the assets in the trust distributed to beneficiaries. Continue reading →

If you’re an adult in your twenties or thirties, chances are that the idea of estate planning hasn’t even been a blip on your radar screen. But estate planning isn’t just for people with families, or businesses, or significant assets—though if you have any of those things, an estate plan is a must. Estate planning is for anyone who wants to exercise control over his or her future. Here are some things young adults, especially young professionals, need to consider. Continue reading →

If you are a Colorado resident who wants to minimize the trouble and expense of transferring your assets when you die, you have probably considered establishing a living trust. A living trust is a document that places your assets in a trust for your benefit during your lifetime and provides for the transfer of those assets after your death. During your life, for as long as you are able, you can be the trustee and remain in full control of your assets. During disability or after death, the control is transferred to a successor trustee. Continue reading →

When people think of estate planning, they often think about providing for children and grandchildren. Does that mean that childless Colorado individuals and couples don’t need an estate plan? Hardly. People without children need an estate plan as much as anyone else, but their needs are different in nature. Continue reading →