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Tirey Law - Estate and Elder Planning

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Is This on Your List of Resolutions?

The holidays are over and another New Year is about to begin. Aunt Dorothy’s fruitcake is cleaned up from the back yard, where apparently the squirrels and birds won’t eat it either. Your new fitness watch is telling you (after your walk) that you only need 6,398 more steps today... Continue reading

Posted Dec 29, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Inheritance Tax Insurance

In the U.K. more and more people are having to pay inheritance tax, leading to an increase in people insuring against that possibility. Americans concerned about estate or inheritance taxes can do the same. People seem to complain about estate and inheritance taxes more than any other form of taxation,... Continue reading

Posted Dec 21, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Telling Your Family About Your Estate Plan

The best way to prevent your family from fighting over your estate is to let them know what to expect from your estate plan. The conversation does not need to be exclusively about money. There are many things that can cause families to fight over a deceased relative's estate. Some... Continue reading

Posted Dec 19, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Charles Manson's Estate

Convicted murderers like Charles Manson also leave behind estates when they pass away. Most do not plan for how their estates should be handled, but Manson did. It might seem strange to think that there is something everyone can learn from Charles Manson. The man was the mastermind responsible for... Continue reading

Posted Dec 18, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Swiss Court Refuses to Recognize Egyptian Inheritance Decision

As the world becomes more globalized, courts are having to sort out sometimes messy conflicts between the estate laws of different cultures. A recent example comes out of Switzerland. More and more people today are interacting and marrying people from different countries and cultures. They also are choosing to hold... Continue reading

Posted Dec 8, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Dispute Over Maya Angelou's Estate

The latest celebrity estate to see a dispute between relatives over control of the estate assets belongs to the late poet, Maya Angelou. In recent decades, students all over America have studied Maya Angelou's poem "I Know Why the Caged Bird Sings" in school. It was the late poet's best... Continue reading

Posted Dec 7, 2017 at Tirey Law- Colorado Estate and Elder Planning

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How Much to Save for Retirement?

People would like to know how much money they need to have in their accounts, before they can consider retiring. That answer differs from person to person. How much folks need to save for retirement depends on several different factors. One crucial factor is what they plan to do during... Continue reading

Posted Dec 6, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Man Gets 7 Years for Defrauding Widow

Personal representatives (executors) and estate administrators can sometimes be tempted to use their powers for their own financial benefit. They would be wise to resist that temptation. People entrusted to administer an estate are given broad powers to complete their tasks. While they often work under the supervision of the... Continue reading

Posted Dec 5, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Proper for Removed Trustee Not to Turn Over Assets

If a trustee is removed from his or her duties, the former trustee usually turns over any assets he holds to the new trustee as quickly as possible. There are exceptions to that rule, however. Marsha Sinzheimer and her late husband had created a trust for her benefit. The trust... Continue reading

Posted Dec 4, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Preventing False Claims of Heirship

Some people will go a long way in their efforts to claim that they are the heir to a valuable estate when they are not even really related to the deceased. Recently the remains of Salvador Dali were exhumed by an order of a court in Spain. A woman named... Continue reading

Posted Nov 23, 2017 at Tirey Law- Colorado Estate and Elder Planning

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No-Contest Clauses and Their Limits

Including a no-contest clause in a will can be a powerful deterrent to challenges to the will. These clauses do, however, have limitations. Sometimes it’s possible to foresee that a family member or other person may not be satisfied with the inheritance planned for them through a will. A child... Continue reading

Posted Nov 22, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Belgrade's Hidden Pet Cemeteries

Lacking an official place to bury their beloved pets, the citizens of Belgrade, Serbia, have turned to clandestine methods. They have created hidden pet cemeteries in the city's parks. It used to be that cities did not worry too much about what to do with residents' deceased pets. Most people... Continue reading

Posted Nov 21, 2017 at Tirey Law- Colorado Estate and Elder Planning

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State Budgets Causing Problems at Funeral Homes

Many state governments have experienced budget shortfalls in recent years. That has led to the inability to properly inspect and regulate funeral homes. In 2016 residents of one Flint, MI neighborhood began noticing an awful stench. They all knew where the smell was coming from. It was a local funeral... Continue reading

Posted Nov 20, 2017 at Tirey Law- Colorado Estate and Elder Planning

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How the U.K. Taxes Gifts

In the U.K., taxes on estates are handled differently than in the U.S. They also tax gifts differently. The recent death of Bruce Forsyth, a television personality in the U.K., is a good opportunity to show how the U.K. and the U.S. treat taxes on gifts and estates differently. In... Continue reading

Posted Nov 17, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Green Cremations

People who want to have their remains in an environmentally friendly manner have not been presented with many options. There is a new cremation method which may be the answer. Some people today are more concerned about their environmental footprint than ever before. They are even willing to pay more... Continue reading

Posted Nov 16, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Do Not Just Stop Paying Life Insurance Premiums

When the specific reasons that an older person originally purchased life insurance no longer exist, that person might be tempted to save money by no longer paying the premiums. That can be a mistake. Most people purchase life insurance for specific reasons, the most common of which is to ensure... Continue reading

Posted Nov 16, 2017 at Tirey Law- Colorado Estate and Elder Planning

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When a Trust Is Not a Trust

A court in London has determined that trusts created by a former Russian senator are not trusts. This is because they were designed to be a sham to hide assets from creditors. The name Sergey Pugachev probably does not ring a bell for most Americans. In Russia, however, he is... Continue reading

Posted Nov 15, 2017 at Tirey Law- Colorado Estate and Elder Planning

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When You Inherit an IRA

If you are the beneficiary of an IRA whose owner has recently passed away, it is important that you not do anything without getting advice. One of the biggest estate administration mistakes that people make after someone dies concerns something that is not technically part of the estate at all.... Continue reading

Posted Nov 14, 2017 at Tirey Law- Colorado Estate and Elder Planning

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When You Inherit an IRA

If you are the beneficiary of an IRA whose owner has recently passed away, it is important that you not do anything without getting advice. One of the biggest estate administration mistakes that people make after someone dies concerns something that is not technically part of the estate at all.... Continue reading

Posted Nov 13, 2017 at Tirey Law- Colorado Estate and Elder Planning

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With the possibility of major tax reform passing, you might be tempted to put off estate planning. That would be a mistake. Whenever the government starts talking about making major changes to tax laws, many people decide to take a wait and see approach to estate planning. This seems to... Continue reading

Posted Nov 13, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Out of Date Estate Plans

Unless you keep your estate plan updated regularly, then it is likely that your final wishes may not be carried out exactly as you want it to do when you pass away. Wealthy people do not have a good excuse for not planning for their estates. People who have means... Continue reading

Posted Nov 10, 2017 at Tirey Law- Colorado Estate and Elder Planning

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IRS's Scrutiny Called into Question

The Treasury Inspector General for Tax Administration has recently recommended that the IRS needs to do a better job of scrutinizing estate and gift tax returns. Few people think of the IRS as being too lenient or not diligent enough in its work. The public perception of the agency tends... Continue reading

Posted Nov 9, 2017 at Tirey Law- Colorado Estate and Elder Planning

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The Cost of Assisted Living Facilities

Assisted living facilities can be so expensive that going on a permanent ocean vacation can be cheaper. When discussing the costs of caring for the elderly, most of the debate about where they should live focuses on nursing home expenses. This is partly because they are extremely expensive to live... Continue reading

Posted Nov 8, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Preparing Your Stuff for Your Heirs

People accumulate a lot of stuff throughout their lives that, while important to them, is useless for other people. There is a process in Sweden known as death cleaning that people use to get rid of possessions before they pass away. Most people have many random things in their homes... Continue reading

Posted Nov 7, 2017 at Tirey Law- Colorado Estate and Elder Planning

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Text Messages as Wills

Technology makes it easier to determine who actually wrote a particular text. That has implications for what courts will accept as valid wills, as an Australian case illustrates. One of the first historical challenges that estate law needed to sort through was how to determine whether a document submitted as... Continue reading

Posted Nov 6, 2017 at Tirey Law- Colorado Estate and Elder Planning

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