4 Reasons to Resolve to Develop an Estate Plan in 2016

On December 31, 2015

The New Year is a time for resolutions. For many people, this can mean prioritizing certain personal and financial changes for the New Year. While those resolutions can be great goals for 2016, here’s why it’s also time to include estate planning as a focus for the coming year. Why to Focus on Estate Planning in the New Year Some of the main reasons why having an effective estate plan in place is so important include that it can: Protect…
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How to Open Colorado Probate with a Will

On December 23, 2015

Following the passing of a loved one, informal or formal probate may be required to validate a will and pass the estate of a decedent onto his heirs. While informal probate may be an option when estates have minimal assets, for larger estates – or for situations when a will is being contested, formal probate may be necessary. Before Getting Started: Important Information about Colorado Probate Before filing paperwork to kickoff probate in Colorado, here are some important facts that…
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Survivors’ Checklist: 6 Immediate Steps to Take after a Death

On December 15, 2015

The death of a loved one can turn your world upside down. While grief can be overwhelming, if one person is ready to take action to prepare the estate for settlement, the following process of transferring the estate to the heirs can be resolved more efficiently. What to Do following a Death Take care of any immediate household needs – If the decedent had minor children or pets, make plans to have them cared for. For other house-related needs, like…
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4 Essential Guidelines for New Trustees: How to Get Started as a Trustee

On December 10, 2015

Serving as a trustee can be a rewarding experience. For those who have never been a trustee before, however, there can be a lot to do, as the role of trustee comes with various responsibilities. And understanding what these obligations are is critical to minimizing liability in this role – and to successfully overseeing and administering a trust. To help you get started, here are some guidelines to keep in mind as you take on your new trustee responsibilities: Your…
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How Does Portability Affect Estate Taxes?

On December 5, 2015

Since 2011 in the U.S., married couples have been able to take advantage of portability for federal estate tax purposes, allowing them to share certain unused exemptions and save on their overall estate tax obligations. Although portability is not an option for state-level estate taxes in Colorado (as of Dec. 2015), understanding how and when it can apply to federal estate tax obligations can be incredibly important to limiting future tax bills and preserving an estate for survivors. What is…
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