New LLC Starting an LLC can be a daunting process, and getting off on the right foot is important. Moreover, in the event you get sued or audited, the court will look to see if the LLC is conducting itself as its own separate entity rather than an alter ego of you personally. If the court does find the LLC is an alter ego of yourself, then you will be held personally liable for instead of the start-up LLC. Similarly,…
In Colorado, a home or real property can transfer from one owner to another by the use of a beneficiary deed. Upon the death of the grantor, the transfer of property passes outside of probate. As with creating a trust or joint tenancy, the use of a beneficiary deed is considered another probate avoidance strategy. Below of some things you should know about beneficiary deeds when considering one in your estate plan: It must be recorded before the death of…
Getting off on the right foot is crucial with everything in life. Starting a business is no exception. As you’re beginning the process, or if you’ve already begun, please keep these four things in mind. 1) Choose the Right Entity If you’re a sole proprietor, in a partnership, an LLC, or a corporation; it’s important to understand the nature of each business type and choose the right one for your business. Each one is distinctly different, and they each have different formation and…
Colorado’s Digital Privacy Law On September 1, 2018, the Colorado Protections for Consumer Data Privacy law, went into effect. The Privacy Law is part of the Colorado Consumer Protection Act (“CCPA”), and will help protect personal data. It you’re a business owner who collects the following Personal Identifiable Information (PII), you’ll need to adapt your processes and procedures to not only protect their customers but yourself. Use the list below to help you decide whether or not the new law…
An estate plan isn’t just for parents. If you’re over the age of 18 you’ll still need one. Family and friends will need to make decisions for you if you’re in the hospital and can’t communicate. They will want to know what to do with your stuff in case you die. Here’s a list of some basic documents you’ll need for your estate plan, regardless if you have children or not. Incapacity Documents A well drafted estate plan always includes…