Hold on to your hats because this is a tough subject. If your estate plan involves irrevocable trusts, understanding how long-term capital gains are taxed inside the trust is important. In general, federal income taxation is segregated into three broad categories: income, short-term capital gain, and long-term capital gain. An example of income would be […]
Most contracts never get reviewed by a lawyer before they are signed. Here are few contract clauses that catch my eye – and they should catch your eye, as well. Whether the clause is a favorable or unfavorable addition to the contract depends on each, individual situation.
In this troubled economy, many Coloradoans are finding themselves out of a job. Finding a new job can become even more difficult if the former employee signed a valid, noncompete agreement.
Contract Disputes, Arbitration, and Arbitration Clauses While arbitration clauses are often a good idea, sometimes an arbitration clause can work against recovery on the contract. Before including an arbitration clause in a contract, think about who will most likely be a plaintiff, who will most likely be a defendant and the amount of damages. Arbitration […]
Home buyer’s remorse used to mean having some misgivings about the house purchase price paid and the monthly mortgage payments. Today, it can mean a lawsuit against the home seller. Sometimes, those lawsuits can be for hundreds of thousands of dollars. In most cases, insurance does not cover the loss or even the defense. For […]
In Colorado, a life insurance company cannot use suicide to avoid payment of a death benefit if the suicide occurs more than one year after the life insurance policy is in force.
When damage occurs in condominiums or townhomes, one of the main questions is whose insurance is left holding the bag. Does the homeowner’s insurance pay? Or does the Homeowners Association’s? An Association’s responsibilities are laid out in their Covenants, Conditions, and Restrictions (“CC&Rs” or “Declaration”). However, when it comes to allocating insurance responsibilities between homeowners […]
Short term rentals are defined generally as a rental that lasts for less than 30 consecutive days. Airbnb and VRBO are just a few of the many companies who are trying to profit off homeowners renting empty rooms or empty homes to vacationers. While that may seem like an appealing way to make money for […]
As we approach the Fourth of July, you and many of your neighbors are probably planning to fly the American flag. However, if you live in a community governed by a homeowners association, this benign act of patriotism may be against the rules. In fact, a quick Google search reveals pages full of news articles […]
Have you used Facebook to break the law? Probably. Your slippery descent into the criminal underworld starts so innocently. Post a funny video. Share a good song. Upload a comic found on another site. These are all everyday Facebook activities. They may also be copyright law violations. Most people have a hazy understanding of what […]