A disinheritance can cause unexpected issues

On July 26, 2013

Colorado residents may want to consider one woman’s disinheritance story the next time they review their estate plans. The woman admitted that she and her father had always had a contentious relationship. However, she said they had long since reconnected and moved past their issues when he passed away in 2009. Considering the positive state of their relationship at his death, she was surprised and saddened that she had been left out of his $1 million estate. It turned out…
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The Medicaid Trap

On July 25, 2013

You see advertising like “Avoid the Medicaid Trap”, “Protect your home and savings from Medicaid and nursing home bills”, “Protect your kids inheritance from Medicaid using our trust package” from many attorney’s promising to show you ways to keep everything from going to Long Term Care Medicaid. While there are certain assets that can be excluded from Medicaid you need to keep in mind what Medicaid is for. It is designed for low income people over the age of 65…
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Living Trusts 101

On July 19, 2013

Colorado individuals who are contemplating an estate plan may consider using trusts as part of the plan. Living trusts provide a variety of benefits to the person making them, allowing them to determine who gets the person’s property upon his or her death. Knowing about living trusts can help individuals in Colorado establish them and use them effectively in their estate administration. Revocable trusts allow the person who makes them to change them as his or her circumstances or preferences…
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Trust Mills and Puppy Mills: Best to avoid both

On July 17, 2013

We know what a Puppy Mill is but what is a Trust Mill? We have heard many horror stories about puppies being bread in horrid conditions and churned out as fast as the breeder can push the mother. This leads to dogs that are problematic down the road because of health problems and other issues. In the same way trust mills don’t take the time to produce a quality product that you or your family will be happy with. Speaking…
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Do not put off estate planning

On July 10, 2013

Even though surveys say that the majority of Americans believe that estate planning is essential, the reality is that most people fail to plan. Unfortunately, this strategy leaves many estates up to chance. Dying intestate, or without a will, creates a tremendous amount of uncertainty. Instead of loved ones receiving the decedent’s money and heirlooms, the state gets to decide the distribution of assets, which might be against the wishes of the one who has passed. A financial planner can…
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Considerations for estate planning

On July 8, 2013

Organizing all the necessary information is one of the keys to successful estate planning in Colorado and across the nation. Most people know they will need to include their will, power of attorney, safe-deposit boxes, checking and savings accounts, tax returns and deeds and titles. However, not-so-obvious information might include a letter of instructions, including burial information, contact information for an attorney, passwords, automatic withdrawal information and social media account information. In one scenario where a person didn’t plan well,…
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Waiting on an Estate Planning won’t cost You

On July 5, 2013

It becomes difficult to hear that Mom or Dad died but didn’t have┬átime to do Estate Planning yet. Each time the loved one who has passed didn’t have to spend anything to put together a Will or Trust so they saved money. Now their spouse, kids or grandkids are paying the price. In a recent online forum a gentleman who had lived with his mother and was her primary caregiver was facing spending money he didn’t have to keep his…
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