Creating an estate plan might not be at the top of your to-do list, but it's a critical step to ensure your assets are distributed according to your wishes and your loved ones are taken care of in the event of your passing. An estate plan is not just for...
Understanding Probate – How to Avoid Probate
Probate can be a lengthy and costly process that follows the passing of a loved one. In Colorado, as in many other states, the probate process involves the court overseeing the distribution of a deceased person's assets. However, there are proactive steps you can take during your lifetime to potentially...
Understanding “Step Up in Basis”
Estate planning involves making important decisions to ensure that your assets are distributed according to your wishes after your passing. One crucial aspect of estate planning is understanding the concept of "step-up in basis" and utilizing tools like revocable living trusts to maximize the benefits for your beneficiaries. This blog...
Demystifying Trusts: Revocable Living Trusts vs. Irrevocable Trusts
Trusts are powerful legal instruments designed to protect and manage assets, ensuring their efficient distribution according to your wishes. When it comes to estate planning, two popular options emerge: revocable living trusts and irrevocable trusts. Understanding the differences between these two types of trusts is essential to make informed decisions...
Funding a Revocable Living Trust – The Basics
When it comes to estate planning, many individuals are familiar with the concept of a revocable living trust. However, there is a crucial step often overlooked – funding the trust. Funding a revocable living trust is like breathing life into it, ensuring that your hard-earned assets are protected, efficiently managed,...
What is a Pourover Will? – The Basics
A pourover will is a legal document that works in conjunction with a revocable living trust to ensure that any assets not already in the trust are transferred into it upon the death of the grantor. In this post we will explore the basics of pourover wills. How a Pourover...
What is a Living Trust? – The Basics
Estate planning can be an intimidating process, but it is an essential aspect of financial planning that everyone should consider. One popular tool for estate planning is a revocable living trust. In this blog post, we will discuss the basics of what a revocable living trust is and how it...
What is a Will? – Common Issues and Limitations
While a last will and testament is a useful legal document that allows you to dictate how your property and assets will be distributed after your death, there are several common problems with relying solely on a will to manage your estate. In this blog post, we'll discuss some of...