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Category: Estate Planning

Estate Planning

Real Property Transfers and Estate Planning

Real Property Transfers and Estate Planning

Real property transfers and estate planning go hand in hand, as transferring ownership of real estate is often a key part of the estate planning process. Whether you’re looking to transfer property to your children, donate it to a charitable organization, or use it to fund a trust, it’s important to understand the legal and financial considerations involved. Below are the different ways to transfer real property in the state of Colorado. Hopefully these tips will help you create a…

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Single Member LLC Estate Planning

Single Member LLC Estate Planning

Estate planning is important for all businesses. It is particularly important for an owner of a single member LLC. Since there are no partners or co-owners to take over if the owner dies; business operations may slow down or come to a halt. An owner’s family and employees sources of income may come to a halt as well. Moreover, payments have to continue to the business’s creditors, wholesalers, and vendors. Having a succession plan in place, gives family, employees and…

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Reviewing Estate Plans with Parents

Reviewing Estate Plans with Parents

Reviewing your parents estate plans with them is always a prudent thing to do. Keeping an up-to-date estate plan will ensure that your elderly parents’ wishes are carried out in the event of their incapacitation or death. It can also help to avoid potential conflicts and legal issues that may arise in the future. If you want to help your parents update their estate plans, here are some steps you can take: Encourage them to review their current estate documents…

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Moving To Colorado With Your Estate Plan

Moving To Colorado With Your Estate Plan

If you’re moving to Colorado, or have been here awhile but haven an out-of-state estate plan you’ll eventually need to update it. Since, Colorado’s laws most likely differ from your old state, these differences can have a significant impact on your will and other estate plan documents. Some of the more common differences are: Moving To Colorado Is A Major Change You should update your documents every time there are major changes in your life. And since our lives are…

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Having a Joint Account With an Adult Child

Having a Joint Account With an Adult Child

In the United States, over five and a half million people suffer from Alzheimer’s disease. As the population ages, more people are expected to suffer from dementia and other cognitive impairments. A joint bank account can come in handy as a means to avoid some of the problems that can come with managing finances when someone is struggling with cognitive impairment. Shared banking accounts can help simplify money management for an adult child and their loved one who is suffering…

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