Category: Colorado Probate Law

Coloradoans with children or modest assets should seriously consider some minimal estate planning, but the increasing number of blended families underscores the need for proper estate planning. Continue reading →

Sometimes the planning of the rich and famous helps us better understand what mere mortals can accomplish through proper planning. Such is the case with the recent planning of Facebook co-founders Mark Zuckerberg and Dustin Moskovitz, and CEO Sheryl Sandberg. The footnotes to Facebook’s recent public stock offering reflect that these executives apparently used a tried-and-true estate planning technique known as a Grantor Retained Annuity Trust (GRAT) to transfer upwards of $200 million free of gift and estate tax. Continue reading →

With Coloradoans living longer due to advances in medicine and changes in lifestyle, odds are that most of us will become disabled for some time before we die and may need long-term care. Unfortunately, too few plan for an event that is more likely to be a probability than a possibility—and the consequences of not planning can be disastrous for all involved. Continue reading →

The Internal Revenue Service has released the official inflation adjustments that will affect 2016 federal reporting for estate taxes, gift taxes, generation-skipping transfer taxes, and estate and trust income taxes. These changes will affect the way Davis Schilken helps you plan as 2015 comes to an end. Continue reading →

Financial Smarts Peak at 50, Here’s How to Protect Your Older Self

A recent study conducted by Texas Tech University concluded that the ability to make smart financial decisions peaks at age 50. This decline was observed in both men and women, making both sexes equally vulnerable to financial fraud as they age. Continue reading →

Financial Firms Roll Out Form Aimed at Stopping Financial Elder Abuse

In Colorado, cases of financial exploitation of the elderly are on the rise. Advisors who work with older clients are looking for ways to head off the abuse before it happens. Enter the “Emergency Contact Authorization Form,” a document in which clients can list a trusted person who should be contacted if an advisor suspects a client is starting to lose their mental capacity or, worse yet, being financially abused or scammed. Continue reading →

Estate Planning for Second Marriages

In first marriages, the couple generally has the same goals when it comes to their estate planning: take care of the surviving spouse for as long as he or she lives, then whatever is left will go to the children. In Colorado, they may own many of their assets jointly and, at the death of the first spouse, more than likely everything will go to the surviving spouse just as they had planned. Continue reading →

Does Your Estate Plan Protect Your Adult Beneficiaries?

If you think you only need to create discretionary lifetime trusts for young beneficiaries, problem beneficiaries, or financially inexperienced beneficiaries, then think again. In this day and age of frivolous lawsuits and high divorce rates, discretionary lifetime trusts should be considered for all of your beneficiaries, minors and adults alike. In Colorado, the experienced Probate and Estate Planning attorneys at Davis Schilken can help protect you and your loved ones in instances like these. Continue reading →

Surprise! You Can’t Easily Disinherit Your Spouse in Colorado

Believe it or not, in Colorado it isn’t easy to disinherit your spouse. But the same is not true for other family members – generally, you can use your estate plan to disinherit your brothers and sisters, your nieces and nephews, or even your very own children and grandchildren. Continue reading →

What Documents Do You Need to Find After a Loved One Dies?

In Colorado, after a loved one dies, you need to gather the important documents that are necessary to settle their final affairs. While the documents required will vary depending on what your loved one owned and owed. Locating documents is only the first of many steps that need to be taken in the administration of a loves one’s estate. The careful review, collection, payment, and distribution of assets is something that the team at Davis Schiken, PC is happy to discuss and assist you and your family with. Below is a list of common documents you will need to find: Continue reading →