Estate planning strategies greatly vary depending on many factors. These include family structure, health needs, and the amount of assets. Because of this, high net worth families have unique needs and strategies they must utilize in the estate planning process. For example, most of the intentions of high net worth…
In today’s world, an estate plan must be more than just crafting a will. With technology at everyone’s fingertips, if an individual dies without disseminating their online accounts and passwords, most of the information within these accounts may be lost forever. While estate planning attorneys may have different recommendations for…
Estate planning is a complex and complicated endeavor for many individuals. While the estate planning industry is constantly evolving, this process may be even more difficult for high-net-worth individuals. These individuals may have more considerations to take into account when planning their estate, including minimizing estate taxes, protecting their funds…
Married couples often wonder if there are specific ways to protect their assets that apply specifically to them. One of these lesser-known estate planning options is the creation of a spousal lifetime access trust (SLAT), which is utilized to transfer assets outside of the estate. Using a SLAT can protect…
Many people are passionate about collecting. Whether stamps, coins, or baseball cards, these collections hold both sentimental, and sometimes, monetary value too. Despite this, individuals may be unaware of how to incorporate these valuables into their estate plan—who will receive these prized belongings once they pass away and how to…
It’s that time of year again: As the snow moves in, another year is on its way out. Although you may find yourself busy with holiday gatherings and the multitude of outdoor activities that Colorado has to offer each winter, it is also an important time to check in on…
Recent surveys show that fewer than half of all U.S. adults have a will, let alone a complete estate plan. While those in the minority may rest easier at night, they may still forget an important piece of effective estate planning. Put simply; it is not enough to draft a…
It’s that time of year again: As the snow moves in, another year is on its way out. Although you may find yourself busy with holiday gatherings and the multitude of outdoor activities that Colorado has to offer each winter, it is also an important time to check in on…
Over the past several months, the U.S. Congress has been considering tax legislation that could drastically change the face of estate planning. Versions of the Build Back Better bill have included provisions to trigger capital gains tax on a regular basis for assets held in trusts, upon death, and when…
Digital assets have necessitated major changes to estate-planning techniques. Once just a small pocket of the market, the now trillion-dollar-plus crypto market has yielded significant wealth for many individuals and families. For these families, the need to safely secure, transfer, and gift this new type of asset is critically important.…