Blog Articles

Colorado Business Filing Fees Are Now $1

Colorado Business Filing Fees Are Now $1

What’s the New Colorado Law? The Colorado Business Fee Relief Act, came into effect on July 1, 2022. The law reduces fees for Colorado business filing and lowers the cost of certain business filings to $1. The new law will help small businesses by reducing fees. This will make it easier for Colorado businesses to start up their business without having to worry about the costs associated with filing fees. Supporting Colorado Small Businesses The COVID health emergency in March…

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How to Disclaim an Inheritance

How to Disclaim an Inheritance

Oh God no! I don’t want that. Sometimes, folks inherit things they don’t want. There’s various reasons why someone would want to disclaim their inheritance. For many, it’s more practical to refuse an inheritance than to accept it. Disclaiming an inheritance is when someone gives up their rights to inherit the assets under a will or through intestacy. In Colorado, it’s an easy process to disclaim an inheritance. Remember as a rule, disclaiming an inheritance is irrevocable. All refusals are…

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Piercing the Corporate Veil: Single Member LLCs

Piercing the Corporate Veil: Single Member LLCs

A question often asked is whether or not a single member LLC (SMLLC) will protect the owner from personal liability should something go wrong and the company is sued. In other words, can a Colorado plaintiff easily pierce the corporate veil and go after the personal assets of the business owner? Commonly, known as “piercing the corporate veil“. The answer of course is, it depends. Since Colorado allows LLCs to have only one member. C.R.S. 7-80-204(g) and can be for…

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Do you really need a trust?

Do you really need a trust?

I often craft estate plans without the use of a trust and achieve the exact same outcomes as if one was in place. Trusts in some circumstances are an added expense, unnecessary and over the top. My firm believes putting folks in a trust only if, it’s perfectly appropriate or absolutely needed. Whether a trust is appropriate or necessary depends on you and your families circumstances. Below is a list, à la Jeff Foxworthy, to see if a trust is…

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Moving Your LLC To Colorado

Moving Your LLC To Colorado

Moving to Colorado? If you, a friend, or a family member have recently moved to the Centennial State, and you’re wondering what to do with your LLC, look no further. I have your answer! You can do one of three things: you can register it as a foreign LLC; dissolve it and start anew; or create a new LLC and merge it with the old one. Keep It As A Foreign LLC A foreign LLC is one that’s registered in…

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