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 […]
Colorado Prenuptial Agreement A Colorado prenuptial agreement allows couples to agree in advance about how property is to be split upon divorce. Without a Colorado prenuptial agreement, the Colorado courts decide how property will be divided upon divorce. Colorado is a separate property state. In a separate property state, property is typically “owned” by the […]
I have been drafting estate plans for about twenty years. For about twenty years, I have successfully avoided making trusts the beneficiary of retirement accounts, save for a few occasions. However, recent federal court cases stripping the asset protection benefits of inherited Individual Retirement Accounts (IRAs) have put an end to that streak. Protecting retirement accounts from a beneficiary’s creditors requires a stand-alone retirement account trust.
Short answer: It’s about the money. Little longer answer: The estate planning questionnaire tells your estate planning attorney what type of plan may be best for you and can save many hours in attorney time upon your death.
Along with other temporary estate and gift tax changes in 2011 and 2012, Congress made a deceased spouse’s unused estate tax exemption portable. At first glance, this sounds like a good thing. However, most married couples would be better off just pretending that this so-called benefit doesn’t exist. Here is why.
At least once a year we get a frantic call from a parent with a slightly out of control minor or adult child. The question from the parent is, “Can the child get at the money in the custodial account”? The answer is usually a simple yes or no, but it underscores a more important question. How should parents make cash gifts to children? The answer is pretty easy. Use an irrevocable trust and not a 2503(c) or minors trust.
[Misconception #12] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…
[Misconception #11] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…
[Misconception #10] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…
[Misconception #9] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…