Probate FAQs: Answers about How to Start Colorado Probate

On July 31, 2016

Probate, the process of validating a will, can be as complicated as it may lengthy and costly. For those who have taken on the role of personal representative or executor (of a decedent’s will), understanding just how to kick off the probate process in Colorado can be central to: Efficiently administering the will Protecting the interests of the beneficiaries Not wasting time – or the resources of the estate. Shedding more light on the Colorado probate process, the following provides…
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4 Little-Known Facts about Colorado Probate

On July 27, 2016

Probate is known for being an involved, complex and, at times, costly process. There are, however, a number of aspects about Colorado probate that are less widely understood – and that are, nevertheless, still important to understand, especially for personal representatives and beneficiaries going through the process. The following presents some of these lesser-known (but still important) facts about the Colorado probate process. When you are ready for answers, advice and information about your best options for initiating and resolving…
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When Should I Start Estate Planning?

On July 24, 2016

The sooner you start the estate planning process, the better. This is because a comprehensive, current estate plan can go a long way to protecting you and your family, as well as preserving your legacy and estate. Clarifying this answer, below, we have revealed some of the most common (and costly) complications that can arise when people put off estate planning. Dangers of Putting off Estate Planning Some of the biggest dangers and problems that can arise if you delay…
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Colorado Intestacy Laws & Children: What Kids Are Entitled to When There’s No Will

On July 19, 2016

When someone passes away without leaving a valid will behind, Colorado intestacy laws will come into play when it’s time to determine which surviving loved ones will inherit the assets of the decedent’s estate. Revealing more about Colorado intestacy laws, the following points out some important facts about how these laws provide from surviving children. Please note, however, that the information below is purposefully general. When you are ready for answers and information specific to your circumstances, simply contact a…
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Trusts & Taxes: FAQs about Tax Obligations for Trusts & Trustees

On July 15, 2016

Taxation for trusts can be complicated, as there are special rules in place for filing and paying for trust-related taxes (as opposed to personal or business taxes). Understanding the obligations and requirements for the taxes related to trusts is important to properly managing and administering trusts – and to avoiding future complications, like problems with the IRS or allegations of breaching your fiduciary duties. Revealing more about these tax obligations, the following presents some important answers to frequently asked questions…
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Can My Will Help My Loved Ones Avoid Probate?

On July 11, 2016

It depends. That’s the short answer because whether (or not) a will can help your loved ones avoid probate in the future will depend on a number of different factors, only some of which include: Whether you execute a valid will Whether your will is up-to-date upon your passing (i.e. whether your will covers or includes plans for all of your property) The scope and nature of your estate. To unpack this answer a bit more, the following explains how…
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Can I Include My Pet(s) in My Estate Plan?

On July 6, 2016

Pets can be wonderful companions and may even be considered to be members of the family for some people. Although pets are technically considered to be ‘property’ in the realm of estate planning, there are a number of ways that you can protect and ensure future care of your pets in your estate plan. How to Include Your Pets in Your Estate Plan & What to Consider When Doing So When it comes to including your pet(s) in your estate…
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Do I Really Need an Estate Plan?

On July 1, 2016

Yes, you need an estate plan if you are serious about preserving your legacy, as well as protecting yourself and your loved ones in the future. Here’s why… What Your Estate Plan Can Do: Top Reasons to Develop an Estate Plan Some of the primary reasons why developing an estate plan is so important include that this plan can: Protect you if or when serious health complications arise – Estate plans are not only focused on what happens after death….
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