“There is no time like the present” is an oft-used phrase that applies to estate planning. Starting the process of drafting a will or establishing a trust is not exclusive to the older generation. The sooner you start, the more peace of mind you will have for taking...
Miller trusts and Medicaid planning
A comprehensive approach to estate planning often includes Medicaid planning. When planning for a time when one needs long-term health care, Medicaid planning can help pave the road to coverage. However, what happens if a person is disqualified because their income is...
Include these 3 components in a simple estate plan
You may not feel old enough to need a Colorado estate plan, but failing to have one may lead to a loss of control over your affairs, finances, and health care. That said, a solid estate plan does not need to take considerable time or money to create. A simple estate...
Considering art collections in estate planning
Art collectors are in a unique category. Unlike other collections, art collections can be both sentimental and valuable investments. Because art collections can involve special care and conservation, they should be handled with special considerations when undergoing...
2 types of guardianships in Colorado
As your parents get older, medical issues may arise that you are not ready for. You may see a decline in mental health or physical ability. Although it may not be something you want to think about, you may not have much time left with them. Do you want to help them...
Why is it critical to consider Medicaid when estate planning?
One of the aims of estate planning is to ensure you have enough assets to see you through your retirement and a decent amount to pass onto your children when you die. Yet, there is one situation where having too much can bad thing. If you fall ill in later life, have...
How should you carry out an estate plan review?
An estate plan is a crucial component of your end of life stages. Its creation is just as important as its maintenance. In fact, while many people may feel tempted to create their plan and simply leave it at that, updating and reviewing it is critical. So how should...
Intestate succession in Colorado
Most people in Colorado likely do not look forward to engaging in the estate planning process. Even still, many also assume that all local residents who pass on leave behind a will dictating the dispersal of their assets. Yet that is not the case. Indeed, according to...
3 estate planning steps to take as a new parent
Part of the joy of adding a new baby to the family is thinking about everything you intend to share with your child in the future. However, as difficult as it may be, you also have to think about and plan for a future in which you are not present in your child's life....
Planning for estate taxes
As Colorado residents get deeper into the estate planning process, they begin to notice those opportunities to minimize expenses that might face their estate upon their death. These include creating plans to settle liabilities and avoid the probate process. Many,...
