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Most people I meet are not rich. Instead, they are normal, hard-working people who have spent a lifetime working to pay off a house, build up some savings, and take care of their family along the way. Some people have been able to save a little more than others along the way, while some have not been able to save much at all, but they got their … [Read more...]
Can I Leave Money to My Church When I Die?
The simple answer to this question is: Yes, you can. However, not all gifts to a church, or any charity for that matter, are the same. You can choose to give money to a charity as an outright gift, or as a gift inside of of your estate planning documents like a trust. You can choose to leave money to a charity, or leave property in kind to a … [Read more...]
Estate Planning For Pregnancy? What You Should Know In Colorado
When my first child was born, that was the first time I began to think about what would happen to my family if I were to pass away. I didn’t have a lot of assets at that point. I lived in an apartment with furniture purchased mostly from garage sales, and I had a car worth about $500, so it wasn’t like I was too worried about money. I happened … [Read more...]
How Do I Leave My Car to My Family After I Die?
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...]
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 … [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...]
How to Effectively Talk To Your Kids About Your Estate Plan
I know that talking to your kids about your estate plan is probably not high on your priority list. In my experience kids frequently don’t want to discuss the possibility of their parents dying, and certainly don’t want to dwell on the subject. I had a client just the other day who brought her daughter with her, and the daughter broke down crying … [Read more...]
Simplifying Your Estate Plan Doesn’t Mean Estate Planning is Simple
I recently had a client apologize to me for laughing at and questioning my legal fee for a certain document. This struck me as quite odd. I had simply explained how a certain document could accomplish her goal, and let her know how much it would cost to create the document to accomplish what she wanted. Perhaps because I had explained a somewhat … [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...]
The Danger of Unmet Expectations in Estate Planning
A couple of years ago, I heard someone talking about relationships. The speaker asked what the number one cause of divorce was. Answers like, “money,” or “lack of communication,” or “infidelity” all came up, but none was correct. Instead, the speaker replied that the number one cause of divorce was “unmet expectations.” The speaker went on to … [Read more...]
