If you’ve taken the step of getting a financial power of attorney (POA) in place for a parent, you’ve already done something important. A POA allows you to help manage your parent’s finances if they become unable to do so—or even just need a hand as they age. But many adult children walk away from signing the documents and wonder: Now what? Here are some practical steps you can take to make sure the POA is actually usable when the…
Back in 2018, I began telling folks the doubled estate tax exemption under the 2017 Tax Cuts and Jobs Act (TCJA) wasn’t going anywhere. Despite all the hand-wringing over the scheduled 2026 sunset, I remained confident that Congress would find a way to preserve the higher threshold. Now it’s official. Starting January 1, 2026, the federal estate, gift, and generation-skipping transfer (GST) tax exemptions will be permanently set at $15 million per individual. That’s double the previous baseline and a…
Starting July 1, 2025, Colorado is tightening the rules around registered agents in an effort to curb fraudulent business filings. If you own or manage a business entity in Colorado—or act as a registered agent yourself—here’s what’s changing and what you’ll need to do to stay compliant. What’s Changing? The new law, House Bill 24-1137, was passed in 2024 as part of the state’s broader effort to prevent business fraud. It adds new requirements for both individuals and entities serving…
In Colorado, a Medical Power of Attorney (MPOA) grants an agent the authority to make healthcare decisions on behalf of the principal. Unlike a Living Will, which provides specific instructions regarding life-sustaining treatment, an MPOA allows an appointed agent to make decisions in real time based on the principal’s medical condition and available treatments. Under Colorado law, an MPOA agent has the ability to override the instructions outlined in a Living Will. While this flexibility can be beneficial, it also…
A power of appointment adds a layer of adaptability to your estate plan. It allows you to name someone who can later decide how to allocate specific assets, offering both flexibility and responsiveness to changing family dynamics or tax considerations. This can be especially helpful in blended families or when future circumstances are hard to predict.