Browsed by
Category: Estate Planning

Estate Planning

Powers of Attorney and Helping Care for Elderly Parents

Powers of Attorney and Helping Care for Elderly Parents

Introduction: What is a Power of Attorney? (POA) Powers of attorney are documents giving someone you trust the right to make decisions for you if you become incapacitated. Incapacitated means your can’t communicate or understand. POA stands for “power of attorney.” The person making the power of attorney is the principal. The person given authority is the agent. A power of attorney agent is someone who has the legal responsibility to act on your behalf. Regarding health care; an agent…

Read More Read More

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…

Read More Read More

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…

Read More Read More

The Tale of the Unfunded Trust

The Tale of the Unfunded Trust

About fifty percent of the trusts that come across my desk are unfunded. Funding a trust simply means placing assets in a trust. Either by creating accounts to hold assets or by making the trust the owner of assets through titling Funding Trusts is essential to having a trust. Actually, I believe it’s the most important part of having since a trust. Since, an unfunded trust is not a trust at all, but rather a stack of papers. Here’s a…

Read More Read More

To Living Trust or Not To Living Trust

To Living Trust or Not To Living Trust

Under the appropriate circumstances, a revocable living trust is the perfect estate planning document. Sometimes, however they can be overkill or underused. Whether a trust is the right document for you depends much upon your assets and family circumstances. Also much depends on whether you as the maker and trustee are willing and able to do so. Here’s some things to consider before using one in your estate plan. A Living Trust Is Not A Will Replacement If you have…

Read More Read More

(303)900-2529 || paul@pmillerlawoffice.com || Disclaimer
Click Here To Schedule A Consultation