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Welcome to Colorado Estate Planning Lawyers.com
Did You Know?
A "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.
In Colorado if you die without a will, your family could be in for more than they bargained for. You sons and daughters could be left fighting over their share of your estate. If you are located in another region of the country contact one of our estate planning attorneys nationwide. Don’t make them go through that hassle; contact our Colorado Estate Planning Lawyer to help get your affairs in order.
[1] Gross estate is shown at the value used to determine estate tax liability. The value could be determined as of the decedent's date of death or 6 months thereafter (i.e., alternate valuation method).[2] Includes U.S. territories, U.S. citizens domiciled abroad, and a small number of returns for whom State of residence was unknown.[All figures are estimates based on samples--money amounts are in thousands of dollars] in Colorado
Gross estate tax purposes
1,249
Gross estate tax Amount
4,070,112
Total allowable deductions Number
1,249
Total allowable deductions Amount
2,630,576
State death tax credit Number
758
State death tax credit Amount
80,386
Net estate tax Number
742
Net estate tax Amount
276,209
Source: Internal Revenue Service, Statistics of Income Division, Unpublished Data, April 2003.
Our Colorado Estate Planning Attorneys can help you decide how best to transfer property, and how to resolve other personal matters including tax planning. Estate-planning lawyers can also help you with the most important part of the estate planning process: Making a will.
If you don’t have a will, the state of Colorado will control who gets your property by default. While most states have their own unique laws descent and property distribution, most states give your children priority when it comes to doling our your possessions.
State laws are modeled after what the legislature thinks most people will want to do, but whatever the laws say might not be in line with your wishes. An estate-planning lawyer can help you draft a will that explains your wishes in great detail.
Our Colorado Estate Planning Attorneys can also help you set up a trust. A trust holds your property until your death and then disperses the property according to your wishes. Trusts can can be created by your will, or the can be revocable or irrevocable.
Most parents use trusts to better prepare for their children’s needs at the time of their death.
Issues and topics related to Colorado Estate Planning include:
Pensions and the Future of Savings
Audio, RM, 44 Kbps, 8:46, 11/17/2004
Pension plans were once considered a good bet for a comfortable retirement -- but these days it can all seem like a gamble. Major companies are defaulting on their pensions, and it's not clear who's going to pick up the tab. We discuss the future of pensions. Source: National Public Radio
Colorado External Sites
FTC: The Administrative Company, et al.
Other estate planning options must be considered.” ... 1961 Stout Street, Suite 1523 Denver, Colorado 80294 303-844-2272. (FTC File No. 932 3019) ...
Newsroom
Latest news about Financial & Estate Planning in Colorado and nationwide:
The First Step In Estate Planning
Inventory everything you own and assign a value to each asset. Here's a list to get you started. You may need to delete some categories or add othe... Read more >
Making A Will
The simplest way to ensure that your funds, property and personal effects will be distributed after your death according to your wishes is to prepa... Read more >
Definition:
A person's permanent legal residence. While a person may have more than one residence, he or she can have only one domicile. Typically, the domicile is the same place you use for purposes of voter registration.
Incapacity / Incompetent
Definition:
Legally unable to manage one's own affairs due to mental disability. This may be temporary or permanent.
Family Limited Partnership
Definition:
A legal partnership agreement between members of a family for the management and control of property for the benefit of family members. Sometimes used to minimize transfer taxes.
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Did You Know?
Estate Tax Returns Filed in 2001: Gross
FTC: The Administrative Company, et al.