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I have several clients who restore old cars, usually classic cars, and then either keep them, or sell them to other collectors. They often want to leave the car to their family and ask me, “How do I leave my car to my family after I die?” These really are some neat cars, so I understand wanting to keep the cars in the family. I have seen some … [Read more...]
Why It’s Vital To Have A Living Trust In Colorado
There are many reasons why a living trust is a good idea. You may want to keep your assets out of probate. You may want to provide for your minor children. You may have property in multiple states. You may be a blended family. You may be taking advice from a television personality or financial person on television who tells you to have a … [Read more...]
Revocable Trusts vs. Special Needs Trusts Compared Side by Side
At the risk of stating the obvious, not all trusts are the same. A revocable trust is a very common type of trust for people to create, and the popularity of a revocable trust likely comes from its most common use - to avoid probate. A revocable trust can do a lot of things, but it may not be the correct type of trust for what you need. If you … [Read more...]
Three Important Questions You Should Consider Before Meeting With An Estate Planning Attorney
I often sit down to meet with people who want me to do absolutely everything for them, and they are somewhat shocked that I do not tell them everything to do with their estate plan. Sometimes I have to explain that I cannot decide who should get their assets, as I do not know their family situation, nor do I know who they think deserves assets, or … [Read more...]
Colorado Residents: Benefits Of Working With A Local Estate Planning Attorney
As I drive around the Denver Metro Area, I see the bumper stickers that say “Native” on them. I have also seen variations that say “Not Native, But I Got Here As Quick As I Can,” or “Almost Native.” I fall into the “Not a Native, But I Got Here As Quick As I Can” category. I was born in Portland, Oregon, and I lived there with my family for … [Read more...]
Something is Better than Nothing: Get your Estate Plan Set Up Now…You Can Adjust Later, If You Need
I completed an estate plan for a client on December 30, 2021. This particular client had first contacted me over two years ago. When we first spoke, the client had a lot of questions on how to proceed. I answered the questions to the best of my ability, and then the client wanted to talk to their insurance agent, CPA, investment advisor, … [Read more...]
What is the Difference Between a Living Trust and a Revocable Trust?
When I was 19 years old, I left the United States and went to live in Russia for two years as a missionary for my church. Over the course of my two years of service as a missionary, I learned to speak Russian. I used to think I was fluent in Russian, but my definition of fluent has changed over time. There are a lot of topics and words that I … [Read more...]
Didn’t You Get The Memo? Leaving Specific Gifts for Specific People in Your Estate Plan
It’s December, and many of us are thinking about giving gifts. I have started asking my children what they want as gifts for Christmas presents, and they are thinking about it. Even harder than that, I am trying to figure out what to ask for as a Christmas present for myself. I tend to purchase what I need or want as the need comes up, so when … [Read more...]
What is the difference between doing your Estate Plan Online and using an Estate Planning Attorney?
In the time that I have been working as an estate planning attorney, I have seen a lot of online options to set up an estate plan appear. Some of these websites are free, some are services you pay for, but all of them seem to have the same thing in common: Online services are mostly self-help services that help you create your own will or other … [Read more...]
Do I Need An Estate Plan, Will, Or Trust?
I refer to myself as an estate planning attorney, and I prepare estate plans. Oftentimes I will be asked what that means, and I explain that I help people prepare their will, trust, financial power of attorney, medical power of attorney, living will, or other documents related to the end of life. People either understand my further explanation, … [Read more...]
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