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 […]
Colorado Prenuptial Agreement A Colorado prenuptial agreement allows couples to agree in advance about how property is to be split upon divorce. Without a Colorado prenuptial agreement, the Colorado courts decide how property will be divided. Colorado is a separate property state. In a separate property state, property is typically “owned” by the person who […]
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 […]
Nothing is more confusing to an estate planning client than the Marital Trust. To understand the Marital Trust requires stepping back in time. History of the Unlimited Marital Deduction In 1976, my grandfather passed away suddenly. I can still see my grandmother’s tears and look of anguish as we approached the farmhouse door. Then […]
In 1916, the U.S. enacted a tax on estates. And also in 1916, the U.S. established the first exemption from estate tax for estates below $40,000. It has been a wild ride ever since. In 1993, the exemption from estate tax was $600,000. In 2002 the exemption was $1,000,000. In 2024 the exemption is $13,610,000. […]
I went looking for 2022 celebrity deaths ending up mired in the probate courts. I only found one. Anne Heche. Shortly after her breakup with Ellen DeGeneres in 2000, Anne Heche started seeing Coleman Laffoon. Coleman and Heche married in September 2001, had a child named Homer Laffoon, separated in 2006, and divorced around 2007. […]
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.
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 […]