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Category: Estate Planning

Estate Planning

Why Everyone Needs a Will, Regardless of Assets or Beneficiaries

Why Everyone Needs a Will, Regardless of Assets or Beneficiaries

When it comes to estate planning, many people believe having a will is only necessary if they possess significant assets or property. The truth is however, creating a will holds importance regardless of the size of your estate. Even if you have no substantial assets, or have designated beneficiaries for your existing assets, having a will in place offers several crucial benefits. Below are reasons why everyone needs a will. Expressing Your Wishes A will serves as a legal document…

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Passing the Torch: A Guide to Choosing an Executor in Colorado

Passing the Torch: A Guide to Choosing an Executor in Colorado

Choosing An Executor: Responsibilities and Process Estate planning is an important process that involves making decisions about your assets, your family, and your legacy. One of the most critical decisions you’ll make in estate planning is choosing an executor. An executor is the person responsible for managing your estate after you pass away. Who Should You Choose as Your Executor? Selecting someone to be your executor is a decision that should be made with great care. Here are some factors…

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Estate Planning for Blended Families

Estate Planning for Blended Families

Blended families bring unique challenges when it comes to estate planning. Parents have to navigate complexity of managing assets and ensuring the well-being of children. It can be overwhelming to with all the various options available. By understanding and putting into place some common estate planning strategies, blended families can ensure that their assets are protected and distributed according to their wishes. Not every strategy may be necessary for your particular circumstances. But having a good understanding of the options…

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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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