It’s really never too early to make sure that an already stressful time in your client’s lives isn’t any more stressful than it needs to be. Erica will discuss Colorado law and procedures for advance directives (Living Wills, 5 Wishes, Colorado’s MOST form). Do you need a notary, witnesses, and other specific requirements under Colorado law. She will also share important information regarding Colorado’s organ and tissue donor program, and discuss lessons learned over the years about pre-planning and paying for cremation/burial and Colorado’s last remains declarations statute.
Estate Tax Portability is a permanent provision in the tax code which provides that, if the first spouse to die does not use all of their estate tax exemption ($11,700,000 for 2021), the second spouse to die can use the unused exemption of the first to die in addition to their own exemption amount. While this provision can be useful in certain situations, there are inherent risks in relying on Portability as a planning strategy.
- What happens if you don’t plan?
- Do you need a Will or a Trust?
- How do you distribute your estate to the people you choose?
- How do you appoint the person you want to make medical or financial decisions for you in the event of incapacity or death?
Find answers to these questions while learning about the process, benefits, and reasons behind estate planning at this FREE educational seminar presented by the attorneys at Ambler & Keenan, LLC.
Many clients have questions about how to avoid probate, which save families significant costs if it is done appropriately. Beneficiary designations and joint tenancy can be used to avoid probate in some circumstances, but there can also be significant tax consequences and additional costs if not handled correctly. We will cover an in depth review of how these tools should be used for your clients.
The rich and famous may (or may not) own more than everyday citizens, but that doesn’t mean they’re immune from the pitfalls of poor estate planning – or disregarding estate planning needs altogether. Far from it! This session will explore errors and omissions made in the estates of several well-known celebrities and public figures, and lessons that the everyday family can take away from such tragedies.
Beth Mitchell will discuss how Charitable Remainder Trusts can be used as part of a client’s estate plan to defer gain on the sale of appreciated property, provide future benefits to a charity, and give income tax savings from charitable contribution deductions.
Sometimes a poorly drafted estate planning document is worse than no document at all. Erica Johnson will show you real examples of clauses from wills, trusts and powers of attorney that were poorly drafted. Often documents downloaded from the internet or created from a software program have conflicts and/or errors that the untrained eye won’t even see. Erica will discuss the real life implications of having poorly drafted estate planning documents both during incapacity and when someone passes away.
This new statute gives us the ability to modify trusts which have become irrevocable. This gives life insurance agents and certified financial planners additional flexibility when they are assisting their client who have irrevocable trusts.