Also known as “Declaration as to medical or surgical treatment” in Colorado, a living will is an estate planning tool that carries the advance directives of an adult’s future medical and end-of-life care. Although most people assume living wills are only useful for...
Estate Planning
Estate planning after remarriage: Balancing blended families
Remarriage is often a happy new chapter, but it can also make estate planning more complicated. If you have children from a previous marriage and a new spouse, you may worry about how to provide for everyone. Without a clear plan, your family could face confusion,...
Tips to avoid four of the most common estate planning mistakes
Nothing is more frustrating that finally taking the time to get a job done only to find out you did it wrong. The time and effort spent seem like a waste and the mistake may have left you with an even bigger mess to deal with. This can happen for those who are not...
Is a handwritten will enough for your estate plan?
The good old pen and paper always seem reliable, especially when you want to keep important details to yourself. You might even have a handwritten will already written, tucked away somewhere. But is it legally valid in Colorado? What is a handwritten (holographic)...
The hidden risks of DIY estate planning
You’ve worked hard to build a life you’re proud of. Naturally, you want to protect what you’ve earned and make things easier for your loved ones. If you live in Loveland or the surrounding area, you might have considered handling your estate planning by yourself....
For some beneficiaries, an inheritance can do more harm than good
Testators establishing estate plans often enjoy contemplating how an inheritance may benefit their loved ones. They might picture their grandchildren paying off their student loans or using their inheritance as a down payment for a home, for example. Many people...
Tactics for protecting a business when estate planning
Many people begin estate planning because they want to protect their loved ones. For others, concern about their resources could inspire them to create or adjust an estate plan. Those who have started, purchased or inherited a business or professional practice may...
The importance of adding powers of attorney to your estate plan
When creating an estate plan, most people focus on wills and trusts, assuming these are the only documents needed to secure their wishes. However, adding powers of attorney (POA) to your estate plan may be just as important, as they can offer protection for your...
When can estate taxes impact the value of an estate?
There are many financial details that people may need to consider when planning their estates. For example, those who have beneficiaries with special needs may need to take steps to help them maintain certain state benefits. A lump-sum inheritance could make an...
How intestate succession laws may fail those left behind
Some people justify their estate planning procrastination by pointing to intestate succession laws. There are state statutes that determine how the probate courts distribute property when an individual dies without a will. In theory, intestate succession laws help...