Category: Colorado Special Needs Planning

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 →

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 →

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 →