Annual Gift Tax Exclusion
Annual exclusion is the amount of property the IRS allows an individual to give to another during a calendar year before a gift tax is assessed and/or a gift tax return must be filed.
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Ancillary Probate
Ancillary Probate is a probate proceeding opened in a state other than the state where the decedent is domiciled at the time of death, or where the primary probate occurs.
Affidavit of Survivorship
An Affidavit of Survivorship is a sworn, written statement establishing the identity of the survivor in a joint tenancy or other property ownership relationship.
Affidavit of Domicile
An Affidavit of Domicile is a sworn, written statement establishing the city, county, and state of residence.
Affidavit
An Affidavit is a sworn, written statement executed under oath in the presence of a witness or witnesses.
Adult
In Colorado, individuals over the age of 18 are legally considered adults.
A/B Trust
The A/B Trust is a type of Revocable Living Trust often used by married couples, wherein two trusts (i.e., trust A, also known as the “marital deduction trust”, and trust B, also known as the “credit shelter trust”) are created upon the death of the first spouse. By distributing the couple’s estate into two trusts when the first spouse dies, each spouse can, in theory, pass the maximum amount of property allowed to avoid federal estate taxes.
Celebrity Estate Planning Disasters
Don’t have a will? Well, don’t feel bad. You’re in good company. Many celebrities have died without an estate plan. Here are just a few with interesting twists. Prince Rogers Nelson (Prince) Prince died on April 21, 2016 and apparently had no will. While the value of Prince’s estate is the subject of speculation, it […]
Common Estate Planning Mistakes
Estate planning mistakes can be expensive and happen to even the most thorough of people. This is a list of common estate planning mistakes we have either seen or gathered from sources. Not having an estate plan. What would be a list of planning mistakes if we did not start with the most obvious and […]
The Best Argument for a Revocable Trust – My Mother
Do you really need a revocable trust estate plan? We have no hard and fast rule on this subject because there are additional upfront costs and then continuing costs of a revocable trust plan. The continuing costs revolve around making sure certain assets are in the revocable trust or made payable to the revocable trust […]