Guest post by Mike Lies of Gold Compass Real Estate
Planning for the future is a necessary step for seniors. It avoids family fights, legal fees and government possession. Estate planning can be a difficult process as there are some uncomfortable decisions that have to be made such as how assets will be distributed and to whom as well as funeral arrangements and medical wishes. The typical estate planning documents include a will and testament to specify gifts for family members, power of attorney, trusts, and health care directive.
Here are some tips for seniors when it comes to estate planning:
Probate is the legal process of what happens to someone’s property (their estate) after they die. The term also refers to the administration of that estate – the things that have to be done after a death so that ownership of all of the decedent’s property can be transferred to those who are entitled to it.
Probate proceedings are not always required (although there will always be some necessary paperwork). Sometimes ownership of assets passes automatically to pre-determined individuals. Continue reading “What is a Small Estate?”
Every year, a major focus of mine is to devote dozens of hours to pro bono work, giving back to the community and helping anyone who wants it to access legal assistance. One way I do this work is through volunteering at a variety of free legal clinics around Jefferson County each month. The clinics typically allow visitors to attend on a first come, first served basis and to receive 15 minutes of free legal advice on their divorce or family law issue. Please share this information with family and friends who could benefit.
We would like to thank all our clients who have helped us grow in the past four-plus years from a sole attorney renting one office to a team, including bookkeeper Elizabeth, associate attorney Kameryn, legal assistants Andrea, Linda, Cate and Angelique, editor Jacquelyn, contract attorneys Julie and Tamara, contract paralegal Jessica, accountant Suzie, videographers Chris and Steef, web managers Susan and Gary, and coach Gary.
Over these years, our clients have taught us what they want and how to act.
Maintenance is Colorado’s word for alimony. It is an important way to help someone get back on his or her feet. On the other hand, sometimes a person has stars in their eyes about a big maintenance number, not realizing the downsides. I have seen many a client who paid another firm top dollar to go to court and obtain a maintenance award, only to walk away with very little in his or her pocket. Continue reading “12 Reasons Maintenance is Not What You Think”