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September 2014 Archives

Back rent leaves widow out in the cold for spouse's inheritance

While the following story doesn't originate from Denver, Colorado, it does highlight some important aspects of estate planning and life care planning. A woman in New York says that her late husband's rent-controlled apartment contains a sizable inheritance, worth somewhere in the range of $18 million. But the managing company that handles the building changed the locks on the apartment because the late husband apparently owed back rent -- or possibly rent racked up since his death. The article isn't exactly clear on that.

Here are a few estate planning mistakes to avoid

Drawing up your estate plan is a major step, and it requires a lot of thought. You need to be thorough yet deliberate when you write up the numerous documents that make up your ultimate estate plan. Despite this incredibly important life decision, there are many people out there who forget to include certain aspects in their estate plan, or they make outright mistakes that cost their family when the estate plan is executed.

Are advance medical directives set in stone?

There are many things that must be considered when planning a final estate including all financial aspects, property distribution and documenting final wishes. One thing that should not be ignored is documenting end-of-life wishes for medical care. Setting advance medical directives may prove to be valuable for Colorado residents who would like to establish final wishes for what kind of medical care is to be given and what, if any, life-saving efforts are to be taken in the event of incapacity.

Guardianship and conservatorship can help Colorado families

The words guardianship and conservatorship can have some very negative connotations to some people in Colorado. Both are generally thought of as giving up control over personal choice and independence. While no one wants to give up those things in their life, even fewer people really want to take those things away from their loved one. Instead of viewing a guardianship or conservatorship in a negative light, understanding their true purpose may help those in need of these services see the value each can provide.

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