What response would you expect to get if you called your doctor’s office and asked, “How much do you charge for an amoxicillin prescription?” Probably an incredulous: “Uh, we need to see you before we can prescribe medication.” Maybe you push your luck. “It’s just a simple sore throat.” Certain response: “Unless the...
There are times when prioritizing speed and cost in a purchasing decision makes sense. I like to go to a really high-end steakhouse every now and then, and linger over a three-hour dinner, served slowly and prepared with great care. But not when I’m on a cross-country road trip. When...
Part Three of our series on Personal Representatives and Trustees concludes with some common questions. (Part 1 -- "Serving as Personal Representative or Trustee, A Step-by-Step Guide" -- is available here; Part 2 -- "Personal Representative? Trustee? What are these titles and who should get them" -- is available here). 1....
In Part One of this series we explored the basic terms related to fiduciary duties, and now we are ready to step deeper into what the role of Personal Representative or Trustee entails. What do these people actually do? 1. Read the Estate Plan The deceased has named their Agent in one...
Most people consider it an honor to be named the Personal Representative or Trustee of a person’s estate. That’s true: it means someone considers you responsible, trustworthy, organized, and clear-headed, as these are all critical traits in a fiduciary. However, it’s more than an honor. It’s also a great responsibility. Naming...
One of the most versatile estate planning tools is a Revocable Living Trust. It’s often the best option if you are interested in avoiding the public, costly, and time-consuming process of probate, or wish to protect your assets beyond the next generation. They are especially recommended for people with blended...
We hear of people all the time who decide to circumvent court interference by listing a trusted adult as the designated beneficiary of a life insurance policy. If you have minor children, they can’t receive money or assets of any kind until they reach the age of 18. Sometimes people...
Here's a surprisingly common scenario: A couple decides to draw up a will. They split their estate evenly between their three kids, and name the husband's youngest brother as Personal Representative. Then, after both have passed away, it's discovered that the designated beneficiary forms on their bank accounts and retirement...
Let's make something perfectly clear: having a Will is very important! Dying intestate, or, dying without a Will, can cause heartache and headache for your loved ones. However, even a properly executed and professionally prepared Will won't do everything. Read on to see what we mean. A Will Won't Avoid Probate What’s...
Over the next few months, I will be participating in a speaker series in which several Denver area professionals will be providing information on various topics of interest to our clients. Our first event will be next Wednesday, February 21st at 3 pm at Metro Brokers at Marina Square (8101...