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Tag: Probate

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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Probating a Small Estate In Colorado

Probating a Small Estate In Colorado

Probating a small estate in Colorado is a straightforward process. Technically, it’s not even probate, since there’s no filing or appearing in court. The official process is known as Collection of Personal Property By Affidavit Pursuant To ยง 15-12-1201, C.R.S. And although it’s not an easy thing to say; the state of Colorado has made it an easy thing to do. If you are tasked with probating a small estate for a friend, family member, or loved one, then read…

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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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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…

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To Trust or Not To Trust

To Trust or Not To 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 Trust Is Not A Will Replacement If you have a…

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