There are many reasons to consider creating a trust-based estate plan. If you think this might be right for you, it is important to understand the different types of trusts you can choose from.
A living trust is one of the most popular trusts to include in an estate plan. It is created when you are alive, as opposed to a testamentary trust, which is formed upon your death.
Most children want their parents to stay married, but this is not always possible. When parents decide to end their marriage, they often worry about telling their kids because of the affect this news could have on their children.
There probably is not any good way to give a child upsetting news. However, some ways are better than others.
Distrust is a common emotion among many divorcing spouses. Certain people might see distrust as an overreaction. However, some distrust may be reasonable.
Sometimes during the divorce process, one spouse attempts to hide assets in an effort to prevent them from being fairly divided. Hiding assets is illegal and immoral, but some spouses believe they can get away with it anyway. This is especially common when only one spouse manages the family’s finances. Fortunately, there are ways to uncover these hidden assets.
If your spouse recently asked for divorce, his or her feelings may have come as a shock. You may not have anticipated the need for divorce and not imagined the divorce process in your future. It can certainly take some time to get used to that idea. However, it can also be beneficial to act early.
If you and your spouse are going to get a divorce, it may be helpful to begin preparing for that process sooner rather than later. If your spouse has been thinking about divorce for some time, it is possible he or she has already begun preparing for this process behind the scenes. If you wait too long to get yourself organized, you might find your access to certain documents and information has become limited, which could put you at a disadvantage.
Determining a parenting time arrangement and delegating parental responsibilities can be some of the most contentious issues that parents must resolve during divorce. Both you and your child’s other parent may be used to seeing your child every day. This can make the idea of splitting your child’s time feel like a loss.
However, when setting a parenting time arrangement and parental responsibilities, it is important to put your child’s welfare and desires before your own. Parents are often the people who know best what their child needs to thrive, so working with the other parent can be an effective way to hash out the details in a way that will be favorable to your child. Unfortunately, parents do not always agree on what would be best for their child.
Ending a marriage is no easy task. Divorce can be emotionally challenging, and you may feel like ripping off the band-aid is the best strategy. How quickly you complete ultimately depends on how complicated the marriage is as far as property, children, and more.
You know there are requirements to qualify for a Colorado divorce and these establish a minimum length for the completion of the process. One of those factors that can extend the process is the legal separation.
Too many people believe estate planning is only for the wealthy – in fact, a recent survey shows only four out of 10 American adults have a will or trust in place. However, everyone can benefit from planning for how their property and other assets are taken care of after they die.
Without a legal plan in place, estates worth at least $50,000 must go before a probate court here in Colorado where a judge will decide who gets what and how much. Estate planning also gives family members or a trusted agent the ability to carry out your wishes if you are unable to do so while you are still alive.
You’ve worked extremely hard, may have caught some lucky breaks and cashed in on some opportunistic situations to be financially secure. The last thing you want, is to have your estate suffer through high taxes and heirs that don’t know how to manage their inheritance.
The three-estate planning focuses for those with a high-net-worth and estate that needs protecting should be to minimize their estate taxes, safeguarding their inheritance and avoiding the expensive probate process.
Divorce is a significant life decision. It’s often difficult to ask your spouse for divorce, especially if you have children. Many people say that they’ll divorce once the kids grow up or move off to college. This may not always be the best decision for you or your children.
While divorce can be hard on children, studies show that children whose parents share custody fare no worse or better than children with one parent who has sole custody.
Among the many benefits of having a plan for anything is reducing the likelihood for surprises. The same is true when it comes to establishing a parenting plan because it establishes clear expectations for you, your co-parent, and children.
Even the most amicable of divorced co-parents can find tension in trying to manage custody on the fly. In fact, it’s good to be on good terms with your co-parent because it can lead to a more favorable agreement for both sides.
Arrange a consultation with our lawyers to discuss your specific situation. Call 720-541-5873 or fill out our contact form.
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13978 W. Bowles Ave. Suite 200
Littleton,
CO
80127
Phone:
720-541-5873
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Craig,
CO
81625
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CO
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Grand Junction,
Colorado
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Aspen,
CO
81611
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