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Probate is the legal process that is used to transfer title of assets from the decedent (person who passed away) to his or her devisees (recipients named in the will) or heirs (recipients named by law). Probate must be filed within three years of the estate owner’s...
In Colorado, there is no specific statute that recognizes common law marriages, but Colorado courts recognize common law marriage. If a person claims common law marriage, the judge presiding over the case will apply certain factors to determine if a common law...
Parents do their best to love their children and treat them equally. This often carries over to a business succession plan where each child gets an equal share in the business. It may make the most sense on paper, but it could be a mistake. Equal shares can be a...
Ads about investing or banking will often use the term fiduciary duty, but the average person may not know what it means. Someone's fiduciary duty is a wide-ranging obligation where a business and its staff are obligated to support the best interests of a client...
Are you married with children from a prior relationship? Do you worry what will happen to your children if you are in a fatal accident? Colorado fortunately allows Contractual Wills which can prohibit a change in beneficiaries after one spouse has passed. Contractual...
Most parents take great pains to ensure that they give each child the same about of love and attention. Therefore, it should come as no surprise that business owners here in Colorado often try to pass equal shares of the company or business to their children, whether...
You get what you pay for. There are too many times that people use online estate planning because they think the online program saves them money on attorney fees while still covering all their needs. Unfortunately, there are too many times that these online estate...
A basic estate plan for everyone should consist of the following four documents. Please contact Pearson & Paris for a free consultation. WILL: A will, sometimes called a last will and testament, is how an individual directs how property should be distributed upon...
