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As part of my work as an estate planning attorney, I meet a lot of people who have recently had a spouse pass away. I find that most of these people are not at their best when that has happened. Oftentimes, they had been married for several decades, so the loss of a spouse is quite devastating. I understand that is the case, so the first thing I … [Read more...]
Lessons From a Coffee Mug: You Can’t Fix Stupid in Estate Planning
My website designer / web marketing guru / all things concerning my internet presence person has a coffee mug that says “I’m a Lawyer. I can’t fix stupid, but I can fix what stupid does.” I do think the coffee mug may be a bit overzealous and overly optimistic in that saying. I understand that there are many areas of law where this saying might … [Read more...]
What Is a Beneficiary’s Deed & Why Might You Want One
I talk with a lot of people who want to avoid probate, so they ask me about their options to avoid probate and want to know what is available. One of the options that comes up is a beneficiary’s deed. A beneficiary’s deed may also be called a “transfer on death deed,” but in Colorado the proper term is a beneficiary’s deed. Not all states allow … [Read more...]
When I Had to Defend the Estate Plans I Wrote – The Rare Cases
In my last blog post, I talked about not going to court if you don’t have to go. With careful planning, estate planning can help you avoid going to court and court proceedings. Your estate plan can be carried out with a minimum of court supervision, or free from court supervision under most circumstances. However, sometimes things happen that … [Read more...]
Don’t Go to Court if You Don’t Have To
Most people I know, including my attorney friends, don’t want to go to court. They all tend to think: “The less people end up in court, the better.” I will focus on avoiding court as it relates to estate planning in this blog. When I first meet with people, many of them tell me that they want to set up a will so that their estate does not go … [Read more...]
Is it better to have a will or a trust? Not Everything You Heard Is True
I cannot tell you the number of times I have had people as if it is better to have a will or a trust. I probably stopped counting when the 10,000th person asked me, and I have moved well beyond that number at this point. The simple, yet unsatisfying answer to the question of whether it is better to have a will or a trust is that it depends on … [Read more...]
Don’t Forget Someone! What Happens if All Children are Not Named in an Estate Plan?
In January, I heard the news that NBA legend Kobe Bryant was killed in a helicopter crash. I was shocked at the news, as was most everyone else that I knew. My cousin’s husband, who played in the NBA for a while, spoke about playing against Kobe Bryant with reverence, as Kobe Bryant was certainly an excellent basketball player. Something like … [Read more...]
Why Would You Want a Trust? Three Big Reasons You Want One
I am often asked what is the difference between a will and a trust. I suppose I get this question a lot because a will and a trust both seem to do the same thing - distribute assets at a person’s death. While that is a similarity between the two documents, each document accomplishes the distribution in a different way. A will … [Read more...]
Back to Basics: How to Achieve the Basic Requirement for Your Will
There are several basic elements to a will. These are the elements required to make a will valid and have the will distribute your property at your death. I have not included an exact number for the basic requirements, because doing so would seem like just a checklist, and I want this blog to be more than that. This blog will focus on the … [Read more...]
What You Need to Know About the SECURE Act
On December 20, 2019, the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) changed the rules concerning retirement accounts. The SECURE Act became effective January 1, 2020. The Act is the most impactful legislation affecting retirement accounts in decades. The SECURE Act has several positive changes: It increases the … [Read more...]
