Girlfriend of late Rolex CEO sues estate

On October 31, 2013

Colorado residents may have heard about the girlfriend of a late Rolex CEO who has filed a lawsuit against the man’s estate. The 54-year-old woman is claiming that the attorney in charge of administrating the estate has locked her out of a condo that was given to her by her late boyfriend. The man died from stomach cancer at the age of 62. According to the woman, two weeks before his death, the man gave her the Olympic Tower condo,…
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Middle-age financial mistakes that keep seniors from aging well

On October 23, 2013

In Colorado and throughout the nation, those in their 50s feel younger and more vibrant than they did a few generations ago. According to Forbes Magazine, this false sense of security causes many in their 50s to make some financial decisions that could negatively impact them as they age. Forbes acknowledges that those in their 50s have reached a point in life that feels celebratory. The kids have left the nest, and retirement is within view. Life is good. While…
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Estate planning isn’t just for the rich or the old in Colorado

On October 17, 2013

There are a few misconceptions about preparing one’s finances to be ready for surviving family members once one passes on. Some people think estate planning is only for the old and rich. Others think it’s scary or bad luck to plan an estate. There are others still who think estate planning is such an easy process and that it can be done without any professional guidance at all. According to financial experts, all of these beliefs are wrongheaded and could…
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Spendthrift trusts and asset protection

On October 11, 2013

While trusts are commonly regarded in Colorado and elsewhere as estate planning tools, they can also be useful as a way for people to protect their assets while they are still living. An asset protection trust, also known as a spendthrift trust, places assets into a living trust under which the trustor is also the beneficiary. The trustee is an independent third party, and distributions of the trust are restricted. One benefit of spendthrift trusts is that claims against the…
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Well-to-do families in Littleton may want to wind down trusts

On October 2, 2013

In 2012, changes in rules regarding federal estate taxes sent Littleton families who were well-to-do rushing to save their heirs from outrageous estate taxes. It turned out that by the middle of 2013, however, their estate planning worries were unfounded. This meant that many might want to wind down the trust they had just set up the year before, and that could be just as expensive and complicated as setting a trust up in the first place. The exemption threshold…
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