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An irrevocable life insurance trust (ILIT) is a financial agreement that cannot be modified or rescinded after it is created. The trust is funded by your life insurance policy, and there are numerous benefits when using this option for your estate planning in...
You have spent your whole life accruing wealth and putting together a portfolio of assets that you want your family to be able to benefit from after you are gone. You love all of your children equally, and you want your wealth to make their lives better. However, that...
Many parents in Colorado have the misconception that they have to divide up their estate evenly among their children. In reality, there's no law that states you have to divide your estate into equal portions. You don't even have to leave your assets to your children....
If you own digital currency, have a social media account or bank online, you have digital assets. Colorado law generally allows you to include them in a will, trust or other estate plan documents. Let's take a look at some best practices for including these items in...
Yes! Too many people feel that a comprehensive estate plan is something to be drafted once and then left locked up in a file somewhere safe. In fact, your estate plan should be examined and revised every few years. Certainly, the plan should be modified after any...
After creating their estate plan, most people just want to put their documents out of sight and out of mind. Unfortunately, this isn't a wise move. There are countless reasons you will need to review and update your estate plan over the years. When it comes to estate...
Many people mistakenly believe that an estate plan is just for distributing property. There are a variety of reasons why someone might want to create an estate plan. Documenting wishes for property distribution can be one of those reasons, but as a new parent, that...
You might not have a will because you assume you don’t need one. If this is the case, you are not alone. Many people believe that they are too young to create a will or that they have plenty of time to create a will later. However, almost everyone can benefit from...
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...
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...
