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Tag: wills

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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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…

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Can I sell my house to my child to avoid Medicaid?

Can I sell my house to my child to avoid Medicaid?

Nursing home care is expensive. On average about $8000 a month in the Denver area. Medicaid will help you pay for it; but first your must “spend down” enough of your assets to qualify for Medicaid. You likely won’t have to sell your home if you enter residential care. Medicaid however, will make a claim against your estate during probate to recover the funds it used on your behalf. This process is known as estate recovery. And it may result…

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Don’t Be Afraid of Estate Planning…

Don’t Be Afraid of Estate Planning…

All work and no estate plan makes Jack a dull boy. All work and no estate plan makes Jack a dull boy. I know estate planning ranks right up there with having a root canal. But, I do my best to make going through the haunted hotel of estate planning as painless as possible. The most difficult part for many is starting. And getting started is as simple as scheduling an initial consultation. During our consultation, I’ll ask you what…

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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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