Estate planning might not be the most thrilling topic to ponder, but it’s an essential part of ensuring your assets are distributed according to your wishes after you’re gone. The two most common tools for this purpose are wills and trusts. Understanding the benefits of each can help you make...
Empowering Heirs: Colorado Revised Statute 15-12-912 and Changing Gifting Instructions
In the realm of estate planning and inheritance, the Colorado Revised Statute 15-12-912 stands as a powerful tool for heirs seeking to adapt their loved one's final wishes to changing circumstances. This statute grants heirs the ability to alter a decedent's gifting instructions through a written agreement, ensuring flexibility in...
Estate Plan Basics – Fundamental Components of an Estate Plan
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...
Navigating Will Challenges – Undue Influence
The loss of a loved one is undoubtedly a challenging time, and dealing with the distribution of their estate can further complicate matters. In some cases, concerns may arise regarding the validity of a will due to allegations of undue influence. Undue influence refers to situations where an individual exerts...
Navigating Will Challenges – Testamentary Capacity
The passing of a loved one is a time of emotional upheaval, and the last thing on our minds is often the validity of their will. However, it is crucial to understand the significance of testamentary capacity and when to challenge a will when it appears to lack it, especially...
What is a Personal Property Memorandum? – The Basics
Estate planning is a crucial step in securing the future and ensuring the smooth transfer of assets to loved ones after our passing. While we often focus on major assets like real estate, investments, and financial accounts, it's equally important to address the distribution of our tangible personal belongings. To...
Why is Estate Planning Important? – Celebrity Deaths
Estate planning is an important part of life that everyone should consider. It's not just about having a will, but also about protecting your assets, providing for your family, and ensuring that your wishes are carried out after you're gone. Celebrities are no exception to this rule, and in this...
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 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...
What is Probate? – The Basics
Probate is a legal process that occurs after a person passes away, in which their assets are distributed to their heirs or beneficiaries. In Colorado, the probate process is regulated by the Colorado Probate Code. When a person passes away in Colorado, their estate may need to go through probate...