Category: Colorado Probate Law

In a previous blog, we discussed the “Bellinger” case and how the court concluded that the debtor’s actions were defensible. To briefly recap the facts, this was the matter in which Mr. Bellinger had made transfers of about $1.7 million to a Cook Islands trust after he knew the primary obligors (on a promissory note that he had personally guaranteed) were defaulting. Continue reading →

A case in the Southern District of Florida involved an individual who had guaranteed to a bank the repayment of about $5 million in debt obligations. The guarantor learned that the primary obligors on the debt were defaulting on the loan. Afterwards, the guarantor created, and transferred about $1.7 million in various securities and cash assets to, a Cook Islands trust. Continue reading →

When establishing a trust in Denver, you need to give serious thought to choosing your successor trustee—the person who will administer your trust once you’re no longer able to do so. Continue reading →

So you’ve done the hard work of establishing an estate plan. However, you still have serious work to do to ensure that the strategy you’ve selected will maximize your peace of mind and protect your legacy. Continue reading →

Bottom Line: If you like jumping right to the punchline, this post serves as an alert that in order to save gift and/or estate taxes to which you may otherwise become subject, making some gifts over the next four months would be highly recommended. For details, please read on….. Continue reading →

The news of the unexpected death of music legend Prince, age 57, shocked the world and touched off stirring tributes from the likes of Bruce Springsteen, Elton John, the Harlem Gospel Choir and the cast of Saturday Night Live. Prince left a profound, indelible mark as an artist – when asked what it was like to be the greatest guitar player alive, for instance, Eric Clapton famously responded: “I don’t know. Ask Prince.” Tragically, though, for all his talent, Prince made a simple error that is creating huge complications for his family. Continue reading →

A resume is a “snapshot” of your experience, skill set, and education which provides prospective employers insight into who you are and how you will perform. Imagine not updating that resume for 5, 10, or even 15 years. Would it accurately reflect who you are? Would it do what you want it to do? Likely not. Estate plans are similar in that they need to be updated on a regular basis to reflect changes in your life – and to do what you want them to do. Continue reading →

The bad news: probated estates in Colorado are subject to a variety of costs from attorneys, personal representatives, appraisers, accountants, courts, and state law. Depending on the probate’s complexity, fees can run into tens of thousands of dollars. Continue reading →

While many wines get better with age, the same cannot be said for some irrevocable trusts.

Maybe you’re the beneficiary of trust created by your great grandfather over seventy years ago and that trust no longer makes sense. Or, maybe you created an irrevocable trust over twenty years ago and it no longer makes sense. Wine connoisseurs may ask: Is there any way to fix an irrevocable trust that has turned from a fine wine into vinegar? You may be surprised to learn that under certain circumstances the answer is yes, by “decanting” the old broken trust into a brand new one. Continue reading →