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Myth: If I Pass Away Without a Will, the State Will Get My Assets

Myth: If I Pass Away Without a Will, the State Will Get My Assets

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...
Estate Planning Mistakes: Improper Ownership of Assets

Estate Planning Mistakes: Improper Ownership of Assets

by Kelly Law Firm | May 12, 2022 | Blog, Estate Planning

End-of-life planning can expose oversights surrounding ownership of assets. Owning property jointly with your spouse can create creditor protections and efficiencies when the property is transferred upon the first spouse’s death. Additionally, while it may seem...
Estate Planning Mistake: Not Updating Plans Over Time

Estate Planning Mistake: Not Updating Plans Over Time

by Kelly Law Firm | May 12, 2022 | Blog, Estate Planning

Like most plans, estate planning isn’t a “set it and forget it” matter. Simply having a plan isn’t enough! To avoid an estate planning mistake your plans need to be updated after major life events – such as marriage, buying a home, having...
Estate Planning Mistake: Not Planning for Disability and Long-Term Care

Estate Planning Mistake: Not Planning for Disability and Long-Term Care

by Kelly Law Firm | May 1, 2022 | Blog, Estate Planning

Seventy percent (70%) of people age 65 will need to plan for disability and long-term care before the end of their life. A private room in a nursing home costs more than $100,000 a year! And a home health aide costs more than $50,000 a year. You can use Genworth to...
Myth: Estate Planning is Just for the Wealthy

Myth: Estate Planning is Just for the Wealthy

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...
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Recent Posts

  • Probate in Colorado – How Does it Work?
  • Myth: If I Pass Away Without a Will, the State Will Get My Assets
  • Powers of Attorney are More Important Than You May Think
  • Estate Planning Mistakes: Improper Ownership of Assets
  • Estate Planning Mistake: Not Updating Plans Over Time

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