A simple reason that many people in Colorado and elsewhere do not follow through with estate planning is that they do not have many assets. They believe that they do not need an estate plan because their families can distribute their few assets as needed without...
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Estate Planning And Probate
Executors, remember to address estate debt during probate
Accruing debt is a typical part of life for most Colorado residents. While it does not necessarily mean that a person is bad with finances, it could mean that a person has unpaid balances at the time of his or her passing. Because this is a likely outcome, the...
Is estate planning early the right course of action?
Many people have a desire to get things right. In many cases, doing the right thing may seem obvious or easy, but in others, it may not be simple to determine whether taking a certain action will be the best course. For example, some people may wonder whether estate...
Should you use a will, trust or both when estate planning?
Many people in Colorado and elsewhere shy away from activities that they perceive as being difficult. For some, creating an estate plan may seem like something that will take too much time and effort to get right, and as a result, they choose not to plan. However,...
4 estate planning tips for parents and stepparents
Having a blended family often means that individuals get the opportunity to love more people. Often, families consisting of stepparents and stepchildren seem as if they are biologically related because they get along so well. As a result, Colorado stepparents often...
Estate planning mistakes put loved ones in a tough spot
Preparing for the future is no easy feat. In fact, it can sometimes be intimidating or even distressing to consider. However, it is important that Colorado residents and those elsewhere remember the importance of estate planning. Certainly, it can be difficult to...
Is estate planning a New Year’s goal? Avoid DIY options
For many Colorado residents, a resolution for the New Year may be to finally get started on an estate plan. This is as good a time as any to start this journey, but it is important to keep in mind that while there are various paths to take, some are better than...
Make sure to include digital accounts when estate planning
Though much of what many Colorado residents do these days occurs online, most people do not really think about their online activities as their lives. Certainly, they have social media accounts they use regularly, participate in online banking, have email accounts and...
Making updates to estate plans can help avoid delays
Over the years, many details in a person’s life can change. As a result, when individuals create their estate plans and time goes by, it is important that those plans are reviewed periodically. In some cases, a life event can trigger the need for an update, such as...
Estate planning misconceptions parents may believe
Doing anything the right way involves having the right information. Unfortunately, numerous people in Colorado and across the country may believe certain details about estate planning that are not entirely true. Though getting started on a plan is definitely a step in...