We are often asked about the best way to avoid the problems associated with probate in transferring property to the beneficiaries of wills. The short video below offers some insights on the issues and how best to ensure a smooth transfer of assets.
Ownership & Encumbrance Reports. We’re glad to share this tip for an easy way to be sure that the title is correctly stated on property title transfers.
Passing ownership of property and other assets from one generation to another requires planning. This is especially true in long held assets where the tax base for the asset is passed to the beneficiary and can result in substantial capital gains tax coming along as well. We’re prepared a short overview of how this can […]
Jack’s mother and stepfather were married 25 years ago. Jack’s stepfather moved into Jack’s mother’s house when Jack was a teenager. Three years later the house was sold to purchase a new home. The new home was titled in the couple’s name as joint tenants with right of survivorship. Along with the house, Jack’s mother […]
Coloradoans are getting Margarita Fever. A trip to the Mexican sun coast. Warmth, salt air and a whiff of humidity. A yearning for a piece of Mexican paradise warms the body while a little tequila whispers soulfully that it is the right thing to do. Why A Fideicomiso? Foreigners cannot directly own Mexican real property […]
There is a lot of conversation at the Colorado State level surrounding taxation of vacation rentals. As of right now, three bills may be presented. First, HB22-1117 has been presented as an opportunity for county governments to introduce lodging taxes at a county level. These taxes would be dedicated to tourism marketing and workforce housing. […]
I would not have believed it if I didn’t hear it with my own ear. The Colorado General Assembly considered taxing residential property as commercial if that residential property was held in an LLC or other entity. This would result in about a 400% increase in property tax. For now, the proposal did not make […]
Hold on to your hats because this is a tough subject. If your estate plan involves irrevocable trusts, understanding how long-term capital gains are taxed inside the trust is important. In general, federal income taxation is segregated into three broad categories: income, short-term capital gain, and long-term capital gain. An example of income would be […]
We hope that you’ll find these tips and insights helpful for your life planning. We are here to assist you. We appreciate your feedback and inquiries.
Worried About A Child’s Inheritance in a Divorce? Think Inheritance Trust. In 2019 the U.S. marriage rate for women was 16.3 per 1,000 women 15 years or older. The divorce rate was 7.6. For those wondering why women and not men, according to the U.S. Census bureau, women are a better and more accurate source […]