How to Leave Assets to a Loved One who Struggles with Addiction

In the United States, 21.5 million adults (aged 12 or older) battle with some kind of substance abuse disorder. The opioid epidemic is on the rise, and addiction affects many families nationwide. Decades of research show that addiction is a chronic illness, and many in recovery have one or more relapses (60% of patients relapse within one year of receiving treatment, according to the Journal of the American Medical Association). Relapse, rather than a failure, is a common part of recovery.

Estate Planning, Revocable Living Trust, Colorado WillChristopher GordonMarch 4, 2019

How Not to Lose Your Wealth for Future Generations

You may have heard this shocking statistic circulating lately -- 70% of families lose their wealth within two generations (and 90% lose it by the third!). It’s hard to really imagine how this could be so, but according to a survey done by Williams Group Wealth Consultancy, it’s true.

Estate PlanningChristopher GordonFebruary 25, 2019

Taking it to the Grave: How Creditors Can Impact Your Legacy

Very often, clients tell us that they wish they hadn’t waited so long to start the estate planning process. It can seem scary or overwhelming, and there are a lot of reasons people put it off. One of the most common is that people want to wait until they have achieved certain financial goals before meeting with an attorney. These goals may include buying a home or earning a certain amount of money, but one we hear the most is getting out of debt.

Estate PlanningChristopher GordonFebruary 18, 2019

What is the Difference Between Hiring an Attorney and Drafting Your Own Will Online?

The majority of individuals in the United States do not have a will or any other estate planning document in place. Often, this is because it can be difficult and painful to confront mortality, the process can be expensive, and people tend to put it off for a time in the future when it feels more urgent. In response to this phenomenon, there are many “simple” and “low-cost” solutions to estate planning available such as online legal form services, DIY books, and fill-in-the-blank forms. These companies try to sell their will-drafting methods as simpler, faster, and cheaper than working with an attorney. What does this mean in practical terms? You get what you pay for.

Estate Planning, Colorado WillChristopher GordonFebruary 9, 2019

Are Collectibles A Good Investment?

When thinking about building wealth and saving for the future, many investors are looking for ways to diversify their portfolios. For some, this means bonds, securities, and gold. Others are looking for something a little more interesting. Collecting rare instruments, vintage watches, fine wines, classic cars, minerals, sports memorabilia, and comic books are all ways to merge your passions with your wealth-building endeavor. But, are they really a good investment?

Estate Planning, Family HeirloomsChristopher GordonJanuary 14, 2019

Using a Revocable Living Trust to Transfer Real Estate

If you have been reading our blog, you have heard us talk about revocable living trusts (RLTs) before. If you haven’t, or if you don’t quite remember the ins and outs of a RLT, we will go through a quick review before moving on to our main topic of the day: should you place your real estate into a revocable living trust?

Estate Planning, Revocable Living TrustChristopher GordonJanuary 4, 2019

What Constitutes a Valid Will in Colorado?

Recently, a court in France ruled that a text message sent shortly before a man’s death in 2016 altering his will was not enforceable. The court decided that a text message altering the terms of a legally executed will cannot be verified, and so is not considered a valid will. However, a court in Australia found the opposite to be true in 2017, in part because the deceased man used the words “my will” in the text message. These conflicting messages raise the question: what constitutes a valid will in Colorado?

Estate Planning, Colorado WillChristopher GordonDecember 31, 2018

Three Common Mistakes When Naming an IRA Beneficiary and How to Fix Them

Despite the fact that retirement accounts can be among the most valuable assets in a person’s estate, they are often overlooked during the estate planning process. Especially if your IRA was initiated by your employer, it may end up a bit “out of sight, out of mind” until the day when you begin taking mandatory distributions.

Estate PlanningChristopher GordonDecember 26, 2018

How to Leave Your Home to Your Kids

If you are like most people, your home is the largest and most valuable asset in your estate. It is likely that you have spent years building equity in your home, making lifelong memories, cutting the grass, and working against a mortgage or two. With all of the time and money you have spent on your home, it is essential that you take the time to ensure that your hard-won asset passes down to the next generation.

Estate PlanningChristopher GordonDecember 14, 2018

The Greatest Gift You Can Give Your Family This Year

The holiday season is a time for family, for thinking about what is most important in your life, and for showing those you love how much they mean to you. While it may not be the most festive thing on your mind, estate planning may be the most important gift that you can give to your family this year.

Estate PlanningChristopher GordonDecember 7, 2018

Estate Planning for the Blended Family

A blended family is one with children from more than one partnership. For many families, this may be a second marriage in which one or both partners have children from a previous relationship. In some blended families, the second marriage also results in children. Blended families are very common, but the default laws in Colorado likely do not reflect how you want to provide for your loved ones after you pass.

Estate PlanningChristopher GordonDecember 2, 2018

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