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Category: Wills

Disinherited Spouse And The Elective Share

Disinherited Spouse And The Elective Share

In Colorado, you can not disinherit a spouse. A surviving spouse omitted or disinherited from a will still has property rights in the estate. Sometimes omitting a spouse is intentional, sometimes negligent. Colorado law entitles a spouse to receive an elective share of the estate or to take against the will. Depending on the length of the marriage, the surviving spouse’s share is between 5% and 50% of the augmented estate. A spouse is defined as someone who is a…

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Joint Wills – Just Say No.

Joint Wills – Just Say No.

Once in a while a married couple will ask me about joint wills. A joint will is a single document signed by two people, usually leaving all of their assets to each other. When the surviving spouse dies the assets are then left to the children. Seems simple, and the easiest way draft an estate plan. This strategy it’s almost always a never a good idea. Problems with Joint Wills Since joint wills are binding contracts between two people, it…

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Electronic Wills In Colorado

Electronic Wills In Colorado

Since January 2021, electronic wills or e-wills are valid in Colorado. The Colorado Uniform Electronic Wills Act allows for remote signing and witnessing of wills. Ordinarily, a person signs their will in front of a notary and two witnesses. This routinely happens at the attorney’s office, or sometimes at the signer’s home. During the pandemic however, this became increasingly challenging because of social distancing, limits on gatherings, as well as office closings. It just so happened, prior to COVID-19 a…

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A Letter of Last Instructions: A Will’s Best Friend

A Letter of Last Instructions: A Will’s Best Friend

Don’t overlook this important piece of your estate planning. The letter of last instructions gives your personal representative, as well as your family, details they’ll need to settle financial matters, and resolve your final wishes. Although, it’s not legally binding, it’s an invaluable resource to your loved ones. It provides final wishes not covered in your will, as well as contact information, they’ll need to close accounts and settle your matters. What To Write Often, a letter of last instructions…

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5 Reasons Why DIY Estate Planning Isn’t Worth It

5 Reasons Why DIY Estate Planning Isn’t Worth It

Whenever someone famous dies without a will, people talk about getting  their will done and which type of service to use.  Currently, Americans have many choices, which include; website services; legal subscription services; purchasing software; purchasing hard copies at a bookstore or ordering online. My advice however, is rather than Doing It Yourself (DIY) work with an estate planning attorney to get your estate plan in place. Everyone needs an estate plan and it’s something everyone should do.  The majority…

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