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Notary Terms and Definitions

Notary Terms and Definitions

Before finalizing your estate plan, you should become familiar with some of the notary terms that are associated with the act of signing your documents. What is a Notary? “Notary” or “Notary Public” means any individual appointed and commissioned to perform notarial acts [C.R.S. 12-55-102(3)] Because the definition in the Colorado Revised Statutes is so brief, the following information has been included to further describe what a Notary is. Various definitions/synonyms for “notary public” can be drawn from other states’…

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7 Estate Planning Documents for Couples with Minor Children

7 Estate Planning Documents for Couples with Minor Children

Estate planning for couples with minor is extremely important since these families have the most to lose. The focus of the estate plan for these couples should be on the care and custody of the minor children should both parents die. Below is a list of documents that should be included in the estate plan for these families with a brief explanation of each.  I’ve grouped the documents into two groups; incapacity planning and legacy planning.Note: The estate plan outlined below…

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5 Things You May Not Have Known About Your Colorado Living Will

5 Things You May Not Have Known About Your Colorado Living Will

Living Wills were have had  legal status in Colorado since 1985.  It gives the patient the right to accept or refuse medical treatment. A living will along with a health care power of attorney should always be included an estate plan. 1)   A living will is not a will at all. It’s an advanced medical directive, which is something entirely different. The term “living will” is commonly confused with the terms “wills” and “living trusts”. It gives a doctor instructions…

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Avoid Personal Liability as an LLC Owner

Avoid Personal Liability as an LLC Owner

A Limited Liability Company (LLC) is a legal business entity that not only provides favorable tax consequences for some individuals; it also protects owners or members from personal liability. The legal term for this protection is the “corporate veil”. This corporate veil creates investment incentives. An investor is more likely to spend time and money based on the assurances that she will not be held personally liable to the business’ creditors. However, many times a plaintiff suing an LLC or…

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Colorado Medical Power of Attorney

Colorado Medical Power of Attorney

A Colorado medical power of attorney is a legal document that gives an individual, the power to make healthcare decisions on your behalf. This document along with, the financial power of attorney are two important instruments every estate plan should include. Similar to the financial power of attorney, a healthcare power of attorney creates a principal and agency relationship. You are the principal, and the person you designate is your health care agent. Plan For Incapacity First Most people when…

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