Resources
Using a Trust to Avoid Probate
Trusts can be used to accomplish scores of different objectives. One very common reason many people create a trust is to simplify the administration process that occurs when people die by “avoiding probate.”
Everyone Needs a Living Will
The term “living will” has entered that national consciousness in part due to high profile court battles to the determine the end of life medical treatment provided to patients. On one side of the legal battle are family members insisting that the patient would have wanted every conceivable effort made to prolong his or her life. Other family members demand that the patient would have wanted artificial life sustaining procedures withdrawn and allowed a dignified death. The one person who could settle the matter is incapable of doing so because of a comatose or brain dead condition.
Majority of Americans Do Not Have a Will
According the legal resource center, LexisNexis, approximately 55% of American adults do not have a will or other estate plan in place. A recent survey conducted by Harris Poll puts the number even higher at 64% of American adults lacking a will.
Options for Transferring Interest of Long Deceased Property Owners
A property interest owned by someone who has been dead for many years is a problem that won’t go away on its own. If the owner died years ago, but the property was never transferred out of their name, it will be difficult, if not impossible, to sell, lease or otherwise transfer the interest until it is in the name of the living person entitled to ownership.
Why Everyone Should Have a Power of Attorney
Powers of attorney can vary widely in their scope and function. As a part of a minimal estate plan, everyone should name a financial power of attorney and a medical power of attorney.
Options for Business Entities in Colorado
Some of the most important considerations when starting a business include: Who will own the business and what is their liability? Who will manage the business? How will the business entity be taxed? Colorado offers many different options. The following is a brief overview of some of the more widely used options.