Afraid of death? Focus on the paperwork when planning estates

On February 27, 2013

There are many reasons why Coloradoans fail to adequately plan for the end of their lives, chief among them being the topic of death. If you’re skittish when it comes to talking about what will happen when you die, chances are good that you don’t have an estate plan in place. Or perhaps you have a parent with whom you’re afraid to discuss the inevitable. It’s natural to feel reluctant about raising the topic, but it might help if you…
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Revocable living trusts may help families avoid probate court

On February 22, 2013

One of the most important things a person, couple, or family can keep in mind when planning for the administration of an estate is that a veritable plethora of options stand before them. Will, trusts, and other estate plans can take on a number of forms-so many in fact that a unique and best-fitting plan is out there for everyone’s situation. One option that may at times go unconsidered by both Colorado residents and other Americans across the country is…
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Heirs to $1 billion must wait for inheritance until age 21

On February 14, 2013

Doris Duke was a wealthy philanthropist who died leaving a fortune worth around $1 billion. Her heirs are teenage twins, a 15-year-old boy and girl, each of which stands to inherit $500 million. The money was left in a trust, however, and the trustees are evidently so hesitant to administer funds from the account that both twins were suspended from their private school for failing to pay tuition and fees of $24,524. The twins will only gain access to their…
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Trusts can be extremely helpful but require trained professionals

On February 7, 2013

All too many people in Colorado and elsewhere think that they can complete their estate planning on their own. They see the text of a trust agreement on a website, and think that it is OK to copy it and insert their own name and beneficiaries. Taking the initiative to determine what should happen to your property and assets after you die is wise, but the do-it-yourself approach comes with risks. Such online documents may not comply with applicable state…
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