Once you become a parent, you are officially responsible for your child's life. You need to feed them, make sure they receive adequate health care and help them learn about the world. Most parents will enjoy years of involvement with their children, but some parents...
Estate Planning
Just moved? It’s time to reassess your estate plan
When you live in one state and set up your estate plan there, you have to remember that what you’ve done is protected by that state’s laws. If those laws change or you move to a new place, you need to update your estate plan to make sure that you’re protected. After...
My kids don’t want the family business
Starting your own company is often one step to achieving a bigger dream for you and your family. Building a business can be a legacy that you pass down to your children for their future and beyond. When you started, you may have considered that your children might not...
Deciding who should take over the family business
Building a business can be an exciting venture for you and your family. While the company may start as your personal goal, your family can be a significant part of making your idea a success. Some family members are better candidates than others for taking over the...
3 kinds of trusts that help protect your legacy
There are many kinds of trusts that you may want to consider as you begin estate planning, but there are a couple that are more commonly used than others. These include: · Charitable trusts · Life insurance trusts · Irrevocable trusts These trusts...
What impact does a spouse’s elective share have on a last will?
A last will or estate plan is a tool that lets someone control who receives their property when they die. An individual creating a last will can get as creative as they want with how they distribute their property, as long as they abide by state law and have enough...
What’s the fastest way to set up a will?
A will is a legal document that helps you distribute your assets following your death. A will allows you to give direction to those you’ve left behind and state your wishes. Most people need a will. If you’re over the age of 18, then you should already have one. Some...
Dying intestate may result in a distribution of assets you don’t agree with
When you pass away without a will, it’s called dying intestate. When you die in this way, the state laws kick in and determine how your estate is handled. The intestacy succession laws in Colorado may not be what you expect, and they could negatively impact the...
Do your parents have an estate plan and last will in place?
Children tend to trust that their parents have their lives together. Your aging parents are already well into their retirement, so you probably assume that they have long since taken stock of their financial circumstances and made plans for the end of their lives....
Mental illness, addiction may impact your estate planning
Any time you’re dealing with your estate plan, you need to think about your beneficiaries and what you’re leaving behind for them. If you have relatives or children with mental illnesses or addictions, then it’s vital to approach estate planning while discussing those...