${site.data.firmName}${SEMFirmNameAlt} | Attorneys At Law
Call Us Today
TF 888-575-9349
L 303-647-5099
view our Practice areas

September 2017 Archives

Advantages of planned giving in an estate plan

One option for Colorado residents who are setting up their estate plan is planned giving. Planned giving refers to setting up a charitable donation during a person's lifetime. A planned gift offers a number of advantages including the ability to set up a family tradition of philanthropic giving.

A will doesn't always leave assets to children

If you are a parent who has been fortunate enough to accumulate wealth and property throughout your life, you probably have wondered how you will pass it on. Talking about money with your kids can seem awkward. They may not be aware of the family's wealth, and you may not want to give them a disincentive to achieve their fullest potential on their own.

Tax consequences for different IRA beneficiary designations

As with most assets, individual retirement accounts are best left to whomever is most deserving or would derive the greatest benefit from the ownership of the asset. People in Colorado who have IRAs often leave them to spouses, children or charities. The tax consequences and other implications of a bequest may be different depending on who gets the asset, and it's important to avoid mistakes with what can be a person's most valuable property upon death.

Important estate plan topics to discuss with family

Many people in Colorado shy away from talking to their family members about estate planning issues like inheritance or powers of attorney. Although all parties might find the subject uncomfortable, clear communication could lead to decisions that prevent hard feelings and reduce burdensome legal paperwork when someone dies.

Options for naming the successor trustees of a living trust

Estate planning requires people in Colorado to consider their goals carefully. In some cases, a living trust, also known as a revocable trust, achieves the desired level of asset protection and distribution, but the document also require trustees to administer its terms. A trust for a married couple might name the spouses as the trustees, but the document must name successor trustees who take over after the original trustees have passed away or otherwise become unable to serve.

Contact Information

Samuel J. Owen, P.C.
350 Indiana Street
Suite 150
Golden, CO 80401

Phone: 303-647-5099
Toll Free: 888-575-9349
Fax: 303-271-0101
Map and Directions

Payment Plans Available

VISA | MasterCard | Discover Network
CBA | Colorado Bar Association | Established in 1897 Denver Bar Association | Since 1891 Nebraska | State Bar Association Naela | National Academy of Elder Law Attorneys, Inc.