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I think the question that I am asked most often in my estate planning practice is how much does it cost to do a will? Or a trust? Or an estate plan? Or a Power of Attorney? Or a Living Will? Or any other number of estate planning documents or preparation. The questions assume that all estate planning is the same, or … [Read more...]
Tenancy in Common vs Joint Tenancy – What’s the Difference and Why Does it Matter for Estate Planning?
Tenancy in Common and Joint Tenancy are different ways of holding real estate property between more than one individual. In my experience, multiple people owning a real estate property together is most common among married couples who have purchased a house together, but that is not always the case. I have seen siblings who own property … [Read more...]
When People Ask What My Life Meant, Tell Them This
I know many estate planning attorneys who will sell their services by telling potential clients that they want to “Leave a Legacy” or “Preserve a Legacy” for their descendants. I understand what these attorneys are saying, but I sometimes question if it is really a “legacy” that is being left in an estate plan. A person’s legacy doesn’t always … [Read more...]
How to Move Into A Care Facility Without Losing Your Mind or Your Money
My oldest daughter just became licensed as a CNA (Certified Nursing Assistant) this summer, as she needed to find a way to get work experience in the medical field, and she wants to become a doctor. She found her first job working as a CNA doing overnight shifts at a memory care facility. She mostly keeps track of the people and guides them back … [Read more...]
Why Death Is No Laughing Matter, But Estate Planning Is!
When I was a child, I watched cartoons on Saturday morning, as I suspect many of us did. My siblings and I would watch cartoons, and if we were lucky, Mom and Dad would not be in the same room when Saturday morning cartoons were over, and we could keep watching TV until our parents intervened. Often we would only get a few minutes into the next … [Read more...]
Is a Living Trust Protected From Creditors in Colorado?
The short answer to this question is: No. I seem to keep trying to write the shortest blog post ever, but somehow the complexities of legal questions don’t seem to allow for that to be the case. A living trust does not offer creditor protection under Colorado law, even if someone thinks they are super clever to get around the law. I have had … [Read more...]
Should I Transfer My House To My Child While I Am Still Alive?
I meet a lot of clients who I meet will tell me they want to “put their child on the house” while they are still alive. Although “putting someone on the house” does not have true legal meaning, I usually understand that they want to make their child or children co-owners of the house. That means that the house will be owned by the child or … [Read more...]
Can i Have An Estate Plan from Out of State?
When I got married, I went to open a joint checking account with my wife. As part of the process, the banker asked for my driver’s license. I handed over the license and the banker asked me if the address was current. I laughed and said, “Nope, that was about 7 addresses ago.” I was in law school at the time, and I had moved just about every … [Read more...]
Why I Need To Know About Your Situation – So We Can Plan Your Estate Properly!
I recently met with a potential client and asked if they had completed the intake worksheet I use to gather information on their life situation, asset picture, and desired beneficiaries of an estate plan. The potential clients informed me that they were not sure they needed to fill out such an intake worksheet. Filling out the intake helps me … [Read more...]
The Benefits of Living Trusts: How They Can Save You Time and Save You Money
I take a lot of calls concerning trusts where people ask me how a trust can save them money. Many of these callers have the mistaken belief that trusts are a magical way to avoid paying taxes and that they can completely eliminate taxes by using a trust. As much as I would like for that to be the case, it simply is not. Taxes do not simply go … [Read more...]
