Colorado Springs Legal Blog
What can a trust do that a will cannot?
Wills and trusts are components of many estate plans, and each have advantages. For example, a will covers all of the property that is only in your name at your death. A will also allows you to name a guardian for your children and detail your wishes for your funeral....
Taking care of your family later means making a plan now
Estate planning may not be at the top of your list. It’s easier to push those thoughts off until later down the line, but having a plan in place now can make all the difference to your family when they need the answers you can no longer give. The sooner you get...
Do I need both a medical and financial power of attorney?
Planning for the future isn’t always easy. There are many things to consider, and you’re probably not ready to think about them. You want to hold onto the belief that nothing is changing, even when you know how important it is to start planning early. If you are...
What to do when elderly financial abuse hits close to home
Your parents took care of you for a long time, and you want to return the favor by protecting them when they need it. Unfortunately, the nature of elder abuse means that time may already be here. Studies have shown that one in five seniors has been the victim of...
Will a no-contest clause prevent my will from being contested?
Your will is an important document that lays out exactly how you want your assets distributed to those you love and cherish. It takes time, and careful planning—the decisions you make while creating one are not made lightly. You don't want anyone trying to change your...
How do I know if a loved one is being abused in a nursing home?
It isn't always possible to take care of an aging loved one at home, and you may have to put them in a nursing home. These facilities are specifically designed to care for elderly patients around the clock and provide them with a safe environment. Unfortunately,...
Guardianship: when it is needed and how to establish it
Caring for a parent with Alzheimer’s or dementia can be a difficult process. In addition to the emotional work of caring for your parent, Alzheimer’s patients sometimes can be stubborn and refuse care. There may come a point where it becomes unrealistic...
How do you know it’s time to challenge a loved one’s will?
In many families, it is common for older adults to talk openly about their estate plans and last wishes. Although it is of critical importance that everyone has a legally binding last will or estate plan, it is equally important that your family members understand...
When should you challenge the trustee on your trust?
Trusts are a major source of security for both the people who create them and the beneficiaries who rely on them later. Unfortunately, not every trustee ends up being reliable. At some point, you may have to ask the court to remove a trustee that isn't doing his or...
Consider an incentive trust for your heirs
You probably don't want to control every aspect of your heir's future -- but, at the same time, you may have some strong feelings about just handing someone a tremendous amount of wealth with no strings attached. That's where an incentive trust can be valuable....
