The state has a duty to those who are too vulnerable to protect themselves. State authorities can intervene on behalf of those incapable of ensuring their own safety. For example, there are agencies dedicated to the protection of children who face abuse and misconduct from parents or other caregivers. The state also has systems in place to protect older adults from abuse. Elder adults are vulnerable to misconduct due to health challenges and other factors. Their interpersonal relationships and personal assets might make them a target of abusive or unethical individuals. How does Colorado work ..read more

It can be a very difficult experience to watch parents age. Changes in their physical appearance and abilities can be hard to process for those who always looked up to their parents. Witnessing cognitive decline can be outright painful. The adult children of aging parents may eventually begin to worry that their parents cannot adequately take care of themselves anymore. They may want to intervene to offer support, but it can be difficult to know how much intervention is appropriate. When parents cannot safely manage their own affairs, their adult children might take the matter to court and see ..read more

Those who have achieved some degree of personal success typically want to convert that success into financial security. Planning carefully for the future involves making good use of acquired resources and identifying likely future expenses. People make moves to protect their assets and to access certain types of benefits. For those nearing retirement age, the possibility of becoming dependent on others for care is a major concern. Older adults sometimes move into nursing home facilities or hire home health care workers who come to their homes regularly to provide them with practical support. T ..read more

One of the most important things adults can do to care for their family members is to ensure they have their affairs in order. Creating an estate plan is a critical step to take in order to achieve this aim. As part of an estate plan, it’s possible to set up trusts. These are either revocable or irrevocable, depending on whether they can be changed by the person who creates the trust, who’s known as the grantor. While an irrevocable trust can’t be changed, it comes with a few benefits that may make it worth setting one up. Protection from creditors Once assets are placed into an irrevocable tr ..read more

A primary goal of estate planning is to have documents in place that protect an individual or their family members in the event of an emergency or tragedy. Many estate plans include powers of attorney. These crucial documents allow someone that a person trusts to handle their bills, make their medical decisions or manage their business. The reason that people draft powers of attorney is to protect themselves from the possibility of guardianship and the devastation that could follow an incapacitation. People could fall behind on their bills or end up facing eviction from their homes if they do ..read more

There are numerous estate planning tactics that may work for people in a variety of different circumstances. For those with significant personal resources, their main concerns when estate planning may include a desire to have a positive impact on their chosen beneficiaries and concern about their resources going toward estate taxes. Those who have millions of dollars in personal property when they die could end up losing part of their estates to the federal government due to estate tax obligations. In some cases, the personal representative of someone’s estate may need to pay 40% of the estate ..read more

Many people think estate planning is something you do in secret, allowing for a grand reveal when you die. Yet, it is much better if you tell certain people about your plans now. Here are some of the people you need to converse with: Those you wish to give a particular responsibility You need to name an executor to carry out the plan you create. You should also name a power of attorney to carry out your legal and financial transactions if you become unable to. Consider a health care power of attorney to communicate your treatment wishes to the doctors if you cannot. And, if you have minor chil ..read more

Long-term care planning is an essential aspect of estate planning for residents of Colorado. As individuals age or face health challenges, the need for long-term care services becomes increasingly important. A comprehensive long-term care plan helps to ensure that individuals receive the care they need while protecting their financial assets and the well-being of their loved ones. Understanding long-term care options In Colorado, long-term care can be provided in various settings. It includes in-home care, assisted living facilities, nursing homes and specialized care units like those for Alzh ..read more

As your parents age, addressing and initiating conversations about their future well-being becomes imperative. One such crucial topic often swept under the rug is end-of-life planning. End-of-life planning involves decisions about healthcare, financial matters and the distribution of one’s assets. Unfortunately, many individuals procrastinate addressing these issues until it’s too late. Encouraging your parents to embark on end-of-life planning can ensure that their wishes are documented and respected, preventing potential family disputes and legal complications down the line. Initiating the c ..read more

Estate planning is something that’s commonly associated with elderly individuals. Nonetheless, estate planning can benefit anyone who is over the age of 18. That being said, an estate plan is only useful if it is completely up to date. Outdated estate plans may not reflect your true wishes and your loved ones could be left out. When should you update your estate plan? When your finances have changed People tend to go through different stages of careers. Perhaps you have had a promotion since you last looked at your estate plan. As a result, you have more assets and they are not yet accounted f ..read more