Posts

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Using Colorado Beneficiary Deeds vs. Colorado Quitclaim Deeds To Avoid Probate: A Comparison

Many people try to avoid Colorado probate because of the perceived expense. To avoid a Colorado probate proceeding upon death, Colorado real and personal property must pass to the heirs by other means. In the case of real estate, Colorado quitclaim deeds (note: not Colorado quit claim deeds, as erroneously written at times) are often used. In most cases, however, the better alternative is a Colorado beneficiary deed.

Life Insurance, Suicide & the Two Year/One Year Rules

Now, I know the title does not sound exciting, but there is much money at stake. How much? Millions, and some of it may belong to you if you understand the two-year rule and the one-year rule regarding life insurance death benefits.

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Recovering Nonprobate Assets to Pay Estate Claims

Many individuals avoid probate by using revocable trusts, payable on death designations and joint tenancy. When they die, their money quickly disappears leaving creditors with unpaid probate claims. However, there are ways to recover nonprobate assets from persons who receive those assets.

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The Colorado Family Purpose Doctrine

The general rule is that liability for a debt rests with the person who incurred the debt. However, like most general rules, there are many exceptions. One of those exceptions is something called the family purpose doctrine.

The family purpose doctrine states that the expenses of the family and the education of the children are chargeable upon the property of both husband and wife, or either of them, and in relation thereto they may be sued jointly or separately. In simple English, this means that both husband and wife are responsible for the grocery bill regardless of who went to the store.

Disposition of Last Remains

Well, times have changed since I first wrote about the disposition of dead bodies. It used to be that an individual could not control what happened to his or her body after death. Well, that has changed. Colorado’s Disposition of Last Remains Act Several years ago, Colorado enacted the Disposition of Last Remains Act. In […]

Is Your 1990’s Tax Planning Will Going To Cost Your Spouse Thousands?

Many tax planning wills and trusts have a little secret hidden deep down inside – the up front expense of long-term estate tax planning. There is a cost to a will or revocable trust that creates irrevocable, tax planning trusts at death. A person should always review that plan and ask himself or herself, is […]

Anatomy of an Estate Plan

What to Expect From an Estate Plan An estate plan is more than a will or a living trust. It is a combination of many documents. Many people are surprised to learn just how many documents are involved. Here is what you should expect to receive in any estate plan: What to Expect from a […]