Wills ensure assets go to the right people

On March 26, 2013

According to research from ICM and Foresters Friendly Society, an alarming number of Americans do not have wills. According to the data, 61 percent of the nation does not have a will, meaning that when they die, they won’t control over how their assets are divided. While many individuals tend to avoid estate planning because they do not want to think about their own death, failing to have a will can cause numerous problems for their heirs. When an individual…
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Sequestration could potentially impact estate planning strategies

On March 21, 2013

Although Congress recently made a very favorable estate and gift tax exemption “permanent,” it is hard to say with certainty what changes will come into effect for residents of Colorado and other states as a result of the recent government sequestration. Under sequestration, there is a possibility that many of the following estate planning techniques will be impacted as the government seeks avenues to increase revenue. The benefits of a grantor trust include the donor paying the tax on the…
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Battle for James Brown’s estate continues 6 years after his death

On March 8, 2013

As we frequently discuss in this Colorado Estate Planning Law Blog, it is important not only to craft a clear and deliberate estate plan, but also to keep these plans up-to-date. Doing so helps ensure that one’s final wishes will be followed with little room for dispute. However, in some cases, even when people create sound estate plans, disagreements and challenges still arise, leading to probate battles. Such is the case with the multimiliion-dollar estate of James Brown. The Godfather…
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