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
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
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
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
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
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