Irrevocable Trusts are an invaluable tool, but only appropriate in limited circumstances. For more information, see https://www.kiplinger.com/retirement/estate-planning/601127/the-only-3-reasons-you-should-have-an-irrevocable-trust
After the death of a person who created a revocable living trust, the trust is referred to as “irrevocable”, meaning that the trust terms cannot be changed. This held true until the adoption of the Colorado Uniform Trust Code (CUTC) effective January 2019. Since...
A power of attorney (POA) is an important element of planning for your elderly parent’s future. It allows another person to take care of your parent’s affairs, ensuring bills get paid and medical decisions can be made in the unfortunate circumstance that your elderly...
This article contains a high-level overview of the House Committee Proposal for the Build Back Better bill that impacts the use of Irrevocable Life Insurance Trusts, other Grantor Trusts, and Family Limited Partnerships. Please see my earlier blog on the impact of...
If you are single and your estate exceeds $6,030,000 or you are a married couple and your combined estate exceeds $12,000,000 this affects you. This article contains a high-level overview of the House Committee Proposal that impacts the estate and gift tax exemption. ...
As of this writing, Democrats in Congress are negotiating the so-called Build Back Better bill. Utilizing their bare majority, Senate Democrats hope to pass the legislation via the reconciliation process, relying solely on the votes of the fifty Democratic senators....
