The Novel Coronavirus (COVID-19) outbreak has altered many areas of everyday life. The most obvious changes involve business closures and supply shortages. However, perhaps less obvious, is the affect this novel virus could have on the status of your estate plan. While your everyday life may seem precarious at the moment, taking extra precautions can … Continue reading
Most people, not just the super wealthy, have assets that they would like to protect in the present moment. If you are one of them, then you should take advantage of the asset protection laws in Colorado. In many cases, asset protection strategies can help you protect your assets better than drafting a will. Yet, … Continue reading
Most people, not just the super wealthy, have assets that they would like to protect in the present moment. If you are one of them, then you should take advantage of the asset protection laws in Colorado. In many cases, asset protection strategies can help you protect your assets better than drafting a will. Yet, … Continue reading
The majority of people spend their entire lives accumulating assets and property. They do so with the intention of leaving these assets and property behind to their loved ones. Unfortunately, without a solid estate plan, your assets may not go to your selected beneficiaries as you intended. Even worse, a simple lawsuit could threaten your … Continue reading
Being appointed guardian of a loved one is a serious responsibility. As guardian, you are in charge of your loved one’s well-being and you have a duty to act in his or her best interest. If an adult becomes mentally incapacitated and is incapable of making responsible decisions, the court will appoint a substitute decision … Continue reading
The Social Security Administration has announced a 1.6 percent increase in benefits in 2020, nearly half of last year’s change. The small rise has advocates questioning whether the government is using the proper method to calculate the cost of living for older Americans and those with disabilities. Cost-of-living increases are tied to the consumer price … Continue reading
Inheriting property from your parents is either a blessing or a burden — or a little bit of both. Figuring out what to do with the property can be overwhelming, so it is good to carefully think through all of your choices. There are three main options when you inherit property: move in, sell, or … Continue reading
As the population ages, the need for caregivers is growing, but the Trump administration’s immigration policies, whatever you may think of them, could have a negative impact on a caregiving industry that is already facing workforce shortages. The Supreme Court is currently considering President Trump’s decision to end the program that protected young undocumented immigrants … Continue reading
Married couples have a special way to jointly own property in some states that has advantages over regular joint ownership. If you are married and own property jointly, you should make sure you have the right form of ownership. Joint tenants must have equal ownership interests in the property. If one of the joint tenants … Continue reading
The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2020 income as a result of buying long-term care insurance. Premiums for “qualified” long-term care insurance policies (see explanation below) are tax deductible to the extent that they, along with other unreimbursed medical expenses (including Medicare premiums), exceed 10 percent of the … Continue reading
