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October 2017 Archives

Estate plans are for more than just the rich

Colorado residents might not think that they need a will if they don't have much money or a lot of assets. What they and others may not understand is that a will is designed to help survivors settle an estate regardless of its size. As a general rule, anyone who owns anything has an estate that will need to be settled after passing on.

Hugh Hefner's estate plan

Many people remember Hugh Hefner for his Playboy enterprise and his fondness for pinups. However, it should also be noted that he had an excellent business sense when it came to planning his estate. Careful estate planning is important for anyone, even for Colorado residents who do not own a global enterprise or have an estate as large as Hefner's.

Making the decision to sign a POA document

Many Colorado citizens may consider whether signing a power of attorney document is in their best interests, particularly as they age and accumulate wealth. A financial power of attorney grants an "agent" the authority to make financial decisions for the "principal". The principal can decide what types of financial decisions the agent is authorized to make on his or her behalf.

Being an executor

Many people living in Colorado will one day be asked to be the executor of an estate. While most people consider this an honor, it is also a huge responsibility. An executor is responsible for the total management of an estate, beginning with finding a will, notifying pertinent individuals, agencies and businesses of the death, and then ensuring that the deceased's wishes are carried out.

Contact Information

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

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