by Kelly Law Firm | Jan 16, 2023 | Blog, Estate Planning, Myth, Trusts
There are a lot of misconceptions about Trusts. I need to have millions of dollars to need a Trust. – False I need to own multiple properties to need a Trust. – False Having a Trust makes things way more complicated. – False Do You Need a Trust?...
by Kelly Law Firm | Oct 11, 2022 | Blog, Estate Planning, Inheritance Laws, Myth
Just like other types of planning, estate planning and beneficiary designation is never a “once and done” proposition. Your life, preferences, and goals evolve over time and may be impacted by outside influences – such as the financial markets, tax...
by Kelly Law Firm | Aug 24, 2022 | Blog, Estate Planning, Inheritance Laws, Myth, Probate
In-State Resident and Probate Do you live outside of Colorado but are named as Personal Representative for a Colorado resident? No problem! Colorado does not require an in-state resident status. However, probate laws may differ from state to state and could end up...
by Kelly Law Firm | Jun 20, 2022 | Blog, Estate Planning, Myth
Truth: If you pass away without a Will, each state will apply its “laws of intestacy” to determine who will get what. Essentially, it is an Estate Plan that the State has created for you. In Colorado, if you pass away without a will, the order of...
by Kelly Law Firm | Apr 27, 2022 | Blog, Estate Planning, Myth
“I don’t have enough assets to need an Estate Plan.” This estate planning myth comes from the focus of so many attorneys and financial advisers on estate tax, which may not be an issue unless your estate surpasses $12.06 million, a problem many of us...
by Kelly Law Firm | Mar 18, 2022 | Blog, Estate Planning, Myth
Truth: While template estate planning documents you download from the internet or handwrite may cover most common situations, you may have a complicated issue that warrants legal advice that you’re not even aware of. Sometimes an internet or handwritten plan is...
