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 […]
A “pocket deed” is a nondelivered real estate deed executed by the current owner during their life where the current owner (the “grantor”) instructs the deed to be delivered to the beneficiary (the “grantee”) upon the current owner’s death or some other condition. The usual intent is to retain property ownership until death and to […]
Certain questions come up in almost every Colorado estate planning consultation. Below are a few clarifications based upon mistaken beliefs we see. These are general rules. There are exceptions to the general rules. A power of attorney terminates at death. It is a violation of Colorado law for an agent to use a power of […]
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.
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. […]
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 […]
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 […]
COVID-19 lawsuits are filling the courthouses. This comes after a long line of other lawsuits over home sales, the ADA, employment law, car accidents, unpaid bills, and let’s not forget divorce. To protect adult children from losing generations of wealth, parents are leaving their inheritance to their children, in trust, with the adult child in […]
Home buyer’s remorse used to mean having some misgivings about the house purchase price paid and the monthly mortgage payments. Today, it can mean a lawsuit against the home seller. Sometimes, those lawsuits can be for hundreds of thousands of dollars. In most cases, insurance does not cover the loss or even the defense. For […]