Estate planning can seem like an immense task for many people. There are many decisions to make and many options to consider. That’s why, for some Colorado residents, once they get their estate plan drafted and signed, they may not think about it again. However, most...
Happy New Year! 2023 has arrived – have you made your New Year’s resolutions yet? Maybe you are planning on finally joining a gym, training for a marathon (but just a 5k to start), or maybe your plan is to just stay healthy this year. Whatever your resolutions may...
People in Colorado may want to have a will and know that they should have one before they die. However, for several different reasons sometimes it does not happen. People generally do not like to think about passing away and wills force people to do that. While it is...
Being prepared for every eventuality is imperative for Colorado residents with a business, a family and concerns about the future. This is when it is useful to think about estate planning. Most will equate this with a will or a trust, but there are other aspects that...
Question – “I’ve been designated as an individuals’ power of attorney. Do I need a guardianship or conservatorship from the Court?” To answer this question, let’s first define a few terms: Power of Attorney – is a document that is signed, witnessed and notarized by a competent individual, selecting another individual (referred to as an “agent”), with the authority to…
Each year, thousands of homeowners obtain a reverse mortgage for their home to reap the benefits of their equity. But how does this impact your ability to leave your home to your children when you pass away? If you have a Home Equity Conversion Mortgage (HECM), i.e. a reverse mortgage, your children will have to repay either the full loan…
A power of attorney is a written document that allows one person, often called the “principal,” to direct someone else, often called the “agent,” to act or make decisions on the principal’s behalf. The power of attorney can limit the agent’s power to specific actions, such as purchasing a car. In the alternative, it can give an agent extensive power,…
Did you know that Colorado law allows anyone owning a car registered in the state to name a beneficiary to receive that car without having to go through probate? This can make estate planning for small-to-modest estates even easier. The vehicle owner must complete Department of Revenue Form DR 2009 and keep it with their estate planning documents. Then, upon…
Preparing a will can seem complicated, but understanding terms and phrases, makes the process easier. For example, you may have heard of a no-contest clause in a Will. A no-contest clause generally states that a person will be disinherited (i.e. not receive an inheritance from an estate) if they challenge the contents of a person’s Will. A no-contest clause may…
Happy New Year! 2022 has arrived – have you made your New Years’ resolutions yet? Maybe you are planning on finally joining a gym, training for a marathon (but just a 5k to start), or maybe your plan is to just stay healthy this year. Whatever your resolutions may be, at the top of that list should be planning for…