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Latest Blog Post/Relevant News Updates

Capital Gains and Gifting: Where Are We Now and Where Are We Going?

Gifting – where are we now and where are we headed
With the current high federal estate tax exemption, the focus has been on how to strategically and effectively reduce capital gains tax liability. Although these strategies may eventually need to change given new proposals by the Biden administration, there are several important rules regarding capital gains taxes that currently apply to gifts made during a client’s life or at death that will be explained here.

Steps to Freeze Credit after a Death

If you are reading this, you have suffered a loss and have our condolences at LeonardLaw. After the death of a family member, credit and identity theft is likely not top of mind. However, this is a growing problem and it’s important to provide a death notice to credit...

The Importance of the Estate Planning Checkup

After arranging your accounts and property with an attorney, it is easy to assume that you have checked estate planning off of your list forever. The reality is not so simple. Not only do tax laws frequently change, but so does your life. The smallest change could...

How to Own Your Real Estate

Real estate encompasses not only one’s primary residence but also other real estate such as a vacation home or a rental property. The ideal form of ownership varies depending on the type of real estate you own. Below, we take a look at the different types of real...

Thirteen Estate Planning Terms You Need to Know

Estate planning—it is an incredibly important tool, not just for the uber wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing...

New Retirement Law (The SECURE Act) and Special Needs Planning

In January 2020, a new law went into effect, known as the Setting Every Community Up for Retirement Enhancement (SECURE) Act, that fundamentally changes the distribution and taxation requirements for beneficiaries of retirement accounts. Families with special needs...

Covid Assistance Resource List

https://leonardlawplanning.com/wp-content/uploads/2020/04/Covid-19-Assistance-Basic-Needs-Resource-List.odt

Small Business Loans

The Coronavirus AID, Relief, and Economic Security (CARES) Act was signed into law Friday, March 27. Part of the $2.2 trillion package includes forgivable loans for small businesses. Click here – for information on loan eligibility prepared by the US Chamber of...

Tax Income Deadlines

Colorado Gov. Jared Polis extended the income tax payment deadlines for all Colorado taxpayers until July 15, 2020. Interest from the due date of the payment until July 15, 2020 is waived.  This is in-line with the federal tax payment deadlines and policies.  This...

Final Cares Act

More to report. The Senate has reached unanimous consent on a much-needed Stimulus Package. The House is set to take up the bill today. Some highlights of the final Cares Act: Stimulus Checks $1,200 per adult ($2,400 for a married couple). $500 for each dependent...

Reminders Regarding Funding

Confirm/Correct Beneficiary Designations I know this is a crazy and scary time, so for those of you with Wills and Trusts, now is the time to confirm that your beneficiary designations are consistent with your estate plan. Trust Funding For those of you with trusts,...

Divorce

How does divorce effect a current will or trust and powers of attorney? In the State of Colorado, a final divorce decree automatically revokes the designation of the ex-spouse as a beneficiary or fiduciary in a will, trust, life insurance policy, retirement account,...

Common Estate Planning Myths

Estate planning can be a very difficult process. While it’s not brain surgery, making the decision to move forward with the planning requires us to face the fact that we will not live forever. This thought can stop many people right in their tracks. Others talk...

““Frieda made the process of estate planning feel personal, while still maintaining a professional environment. She is extremely knowledgeable. She answered all of my questions and raised points I had not considered, without making me feel overwhelmed. I can’t recommend her highly enough.””
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