Estate planning should be done early

On September 24, 2013

Estate planning is often associated with retirement, but getting affairs in order earlier in life can ensure that an individual is prepared for life’s uncertainties. Regardless of how much a person is worth, they should begin the process of estate planning as soon as possible. Especially for those with young children, setting a financial plan in place can ensure that the kids are taken care of. Even for people who have little or no assets, a plan is critical since…
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Estate planning: crucial for everyone

On September 18, 2013

Colorado residents might be interested to hear that estate planning is not something that is only for the elderly or the wealthy. On the contrary, everyone needs to plan for what will happen to their estates, no matter what his or her age or financial status. Estate planning basically helps people make sure that their estates will be handled in the manner that they wish them to be if they ever become unable to do so themselves. One important part…
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Certain documents should accompany every estate plan

On September 13, 2013

Planning for one’s death is never pleasant; however, as many Colorado residents may already know, it is often a fact of life. This is especially true when there are numerous assets that must be given away as part of one’s estate. An authority on the subject in a recent piece provided some guidance on which documents should be included in every estate plan. The first major document that is recommended for inclusion is a will or living trust. Depending on…
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Why does Probate have such a bad reputation?

On September 12, 2013

Over the centuries probate has become increasingly complicated as dying has become more complex and people have tried (and sometime succeeded) in cheating rightful heirs. Over time as asset ownership and life in general has become more complex, the probate process also became more complex. It did not help that the legal profession got quite accustomed to significant revenue from it. At one time all states required in-person Court hearings, sophisticated legal forms and the like, which all but guaranteed…
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Make sure beneficiary designations are current

On September 5, 2013

Beneficiary designations play a big role in determining the disposition of assets upon a Denver resident’s death. Typically, these beneficiaries are named in the paperwork of financial assets such as investment accounts, IRAs and insurance policies. If there is a conflict between who is named in a will and who is named as a beneficiary in financial account paperwork, generally the financial asset paperwork takes precedent over the will. There are two types of beneficiaries. The first is called the…
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Leaving Home: Will Medicaid Still Exempt My Senior Parent’s Home? – AgingCare.com

On September 4, 2013

Under the current Medicaid laws, even after you enter a nursing home, your personal residence will not be counted as part of your assets, in determining if you are eligible for Medicaid coverage of your nursing home costs. However, if you are single and if your equity interest in your home exceeds $500,000, then your house will be counted, almost certainly causing you to be disqualified from Medicaid coverage. If you are married and your spouse continues to reside in…
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