Mineral interests can become fragmented, difficult to trace, and expensive to transfer. Holding mineral interests in an LLC can solve all three problems. The phrase “mineral interest” is used broadly to describe rights to gas, oil, and other minerals at or below the surface of land. Mineral interests are further divided into royalty interests, working […]
A “pocket deed” is a nondelivered real estate deed executed by the current owner during their life where the current owner (the “grantor”) instructs the deed to be delivered to the beneficiary (the “grantee”) upon the current owner’s death or some other condition. The usual intent is to retain property ownership until death and to […]
Certain questions come up in almost every Colorado estate planning consultation. Below are a few clarifications based upon mistaken beliefs we see. These are general rules. There are exceptions to the general rules. A power of attorney terminates at death. It is a violation of Colorado law for an agent to use a power of […]
I went looking for 2022 celebrity deaths ending up mired in the probate courts. I only found one. Anne Heche. Shortly after her breakup with Ellen DeGeneres in 2000, Anne Heche started seeing Coleman Laffoon. Coleman and Heche married in September 2001, had a child named Homer Laffoon, separated in 2006, and divorced around 2007. […]
Colorado Eviscerates Non-Competition & Trade Secret Agreements Non-competition agreements have arguably been overused to the benefit of employers. HB22-1317 drastically changed Colorado’s law governing these agreements. The changes went into effect on August 9, 2022 and apply to agreements entered into or renewed after August 9, 2022. These changes affect Colorado employers and any business […]
The Colorado General Assembly passed HB22-1137 increasing HOA Board requirements before filing lawsuits and limiting interest on delinquent accounts. We have mixed emotions about this law. On one hand, we have seen some heavy-handed HOA boards and lawyers taking advantage of the previous law. On the other hand, the pendulum has swung far the other […]
We are often asked about the best way to avoid the problems associated with probate in transferring property to the beneficiaries of wills. The short video below offers some insights on the issues and how best to ensure a smooth transfer of assets.
Ownership & Encumbrance Reports. We’re glad to share this tip for an easy way to be sure that the title is correctly stated on property title transfers.
Passing ownership of property and other assets from one generation to another requires planning. This is especially true in long held assets where the tax base for the asset is passed to the beneficiary and can result in substantial capital gains tax coming along as well. We’re prepared a short overview of how this can […]
Jack’s mother and stepfather were married 25 years ago. Jack’s stepfather moved into Jack’s mother’s house when Jack was a teenager. Three years later the house was sold to purchase a new home. The new home was titled in the couple’s name as joint tenants with right of survivorship. Along with the house, Jack’s mother […]