The Problem With Beneficiary Deeds About 20 years ago, Colorado began recognizing transfer-on-death deeds for real estate. At the time, I was one of their biggest supporters. Today, I still use beneficiary deeds—but much more cautiously. Here’s why. A beneficiary deed is simply a transfer-on-death deed for real estate. The deed must be properly recorded […]
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. Here is what you should expect to receive in any estate plan: What to Expect from a Will-Based Plan If your plan is a Will-based plan, you should receive […]
Is it just me? Have you noticed an increase in junk email? Beyond junk mail, the ads in my feeds are eerily aligned with my recent searches, TV shows, and even verbal conversations. While AI holds enormous promise for our future, our personal privacy is increasingly at risk. It’s Not Just AI It’s not just […]
Real Estate – When a Joint Tenant Dies Most checklists about what to do when someone dies focus on general estate matters. Very few, however, address the specific steps required when a joint tenant in Colorado real estate passes away. Joint Tenancy vs. Tenancy in Common In Colorado, real estate co-ownership is usually structured as […]
Are you sure you truly own your home? In Colorado, there’s a simple way to find out—by ordering an Ownership & Encumbrance (O&E) report. An O&E report, available from a title insurance company, provides a snapshot of your property’s legal status. It includes the most recent deed in the chain of title, any recorded liens, […]
Avoiding probate is the most popular reason to have a trust second only to privacy concerns. The most common asset held in trust is a home. Buying and keeping that home in your trust can be a challenge. Here are some tips. Buy in the Trust’s Name When you buy your home, make sure the […]
Rumor is, some Los Angeles fire victims are having difficulty with their insurance when the home is held in trust. While I find this hard to believe, naming the trust as an insured or additional insured usually avoids the issue. Why Put Your Home In A Trust A personal residence (a “home”) is often held […]
Should you hold your residential real estate in a trust or an LLC? Trusts may be emerging as the better option. Here is why. Background Regarding LLCs and Colorado Real Estate Over the last 20 years, LLCs became the preferred way to hold Colorado rental real estate because the LLC provided privacy and limited liability […]
Perhaps the most common reason clients create a trust is to protect real estate from probate. How the trust is funded with real estate depends on the specific situation. How to Fund Your Trust with Real Estate Real estate can fund a trust either by being conveyed to the trust or by some version of […]
Mineral interests can become fragmented, difficult to trace, and expensive to transfer. Holding mineral interests in an LLC can solve all three problems. The phrase “mineral interest” is used broadly to describe rights to gas, oil, and other minerals at or below the surface of land. Mineral interests are further divided into royalty interests, working […]