Millennials in Colorado are finally in for a big payoff. It is perhaps convenient to forget, but this generation survived the Great Recession of 2008, are struggling with heavy student loan debt and then face immense criticism for their resulting inability to purchase a home as quickly as their predecessors. However, their big day is finally coming. According to a CNBC article, the greatest wealth transfer in history is about to take place. It will pass $68 trillion on from baby boomers to Generations X, Y and Z.
It is not unusual for a parent in Colorado to remarry after the initial marriage ends. However, when parents remarry, it adds a new party to the list of beneficiaries. This may negatively affect surviving children in the event of their parents’ death. In fact, one attorney writing for Forbes noted that 50% of the cases of inheritance disputes at his firm involved stepmothers.
No matter what age you are, it is important to think about your wishes related to health care and medical treatments. In Colorado, state law allows you to refuse or consent to medical treatments. However, some injuries and sicknesses may make it difficult or impossible for you to communicate your medical preferences to your doctor and/or family members. A medical directive gives your caregivers and medical staff clear directions relating to your care.