In the past, collecting delinquent homeowner association assessments did not require much brainpower, effort or planning. That has changed. Strapped homeowners, behind on the mortgage and owing more than the house is worth are choosing not to pay homeowner association assessments.
So, you have never heard of an NFA Trust? A little history lesson may help you understand why NFA trusts exist and who creates NFA Trusts to hold Title II firearms.
Most Colorado residential developments have covenants that establish the obligations of the homeowners. Disputes arise over just what a homeowner can and cannot do on his real property. When those disputes arise, the courts must interpret the covenant in dispute.
At least once a year we get a frantic call from a parent with a slightly out of control minor or adult child. The question from the parent is, “Can the child get at the money in the custodial account”? The answer is usually a simple yes or no, but it underscores a more important question. How should parents make cash gifts to children? The answer is pretty easy. Use an irrevocable trust and not a 2503(c) or minors trust.
We are often asked whether a Colorado NFA Trust can be used in another state. Or, if the trust creator (Settlor) moves over the course of their life, can they keep the same trust or would they have to establish new a new NFA Trust in the new state and pay the $200 transfer fee per item? The short answer is yes, the person can usually keep their trust.
Another common question is how easy is it to change trustees of a Colorado NFA Trust.
We are often asked whether multiple people can legally possess a Title II weapon when held in a Colorado NFA Trust. The short answer is yes, by making those people trustees of the trust.
Most if not all Colorado residential developments have a homeowner association and recorded documents establishing the rules for and obligations of the homeowners. Understanding those documents help homeowners avoid fines, lawsuits and unhappy neighbors. Yet, most homeowners have never read the governing documents.
Most if not all Colorado residential developments these days have a homeowner association and recorded documents that establish the rules for and obligations of the homeowners. Understanding those documents help homeowners avoid fines, lawsuits and unhappy neighbors. Yet, most homeowners have never read the governing documents.
[Misconception #12] Our office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series…