Boulder Estate Planning Legal Blog

In an effort to provide Americans with access to retirement savings, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act. The SECURE Act created profound retirement and tax reforms resulting in myriad implications for American workers. The changes should prompt individuals to reevaluate their Colorado estate plan documents to ensure a happy…

Estate plans allow individuals to contemplate their final wishes regarding their healthcare, finances, and disposition of their remains. A Colorado estate planning attorney can assist individuals in determining the best way to document their final wishes to ensure that their family correctly effectuates their desires. Although last will and testament documents may include funeral and…

Funeral arrangements are something that are extremely personal and poignant. While a family will often have to go through the emotionally tolling process of planning a funeral, the individual can minimize the burden by putting their wishes in their estate plan. This cannot entirely alleviate the work the family must do after the death, but…

Over the past year, many changes have occurred due to the COVID-19 pandemic. While people are realizing those things that are most important to them, it has also invoked reminders to prepare for the future. For many, this should include updating an estate plan, which can provide peace of mind for them and their family.…

Over time, the federal laws surrounding estate and gift taxes have been altered—often with the change in administration. This past month, Senator Bernie Sanders introduced his estate and gift tax reform legislation to lower the estate tax exemption to $3,500,000. For Coloradans with an estate plan in place, this may affect them. While this bill…

After creating a Colorado estate plan that contains a trust, there is one final step: choosing the trustee to oversee the trust after the creator of the estate has passed away. The trustee manages the assets in the trust and distributes the assets according to the creator’s wishes. A lot of people have misconceptions about…

While creating a trust is critical for many people and their loved ones, it may seem complicated at first. There are also important decisions that must be made throughout the process that will impact the beneficiaries and the assets within a Colorado estate plan. One such choice is who to designate as the successor trustee…

While many people put off thinking about death, recent policy initiatives have made this not the case for many. With a dramatic increase of states considering right-to-die initiatives—that make it possible for terminally ill patients to use medicine to end their lives—strong opinions over the topic are rampant. Colorado passed The End-of-Life Options Act (the…

Those who are in the midst of divorce proceedings or planning a divorce should consult a Colorado estate planning attorney to discuss any implications of the life change. Probate courts do not consider the circumstances surrounding a couple’s separation, and consider the couple married, until a judge signs a final divorce decree. As such, individuals…

The federal gift and tax application exclusion amount, or exemption, was raised from $5.49 million per individual to $11.58 million per individual last year. This means that a married couple can transfer about $23 million without having to pay a gift tax or estate tax. However, the federal gift and estate tax exemption is set…