Probate
Probate is simply the administration of a deceased person’s estate. Probate involves paying debts (including taxes) and then distributing the remaining assets. (There are also related tasks such as closing accounts, liquidating assets and so forth.) Last month’s article talked about being an executor and how to minimize your personal risk. This month we’ll discuss […]
Executor Liability
An executor (in Colorado, the term is personal representative) is responsible for settling an estate. Basically, this involves paying debts (including taxes) and then distributing the remaining assets. (There are also related tasks such as closing accounts, liquidating assets and so forth.) Typically, an executor is a family member, an attorney, a CPA or an […]
Sustainable Withdrawal Rate
A sustainable withdrawal rate simply means the amount of money a retiree can withdraw from their investments each year without running out of funds before they die. This month, we’ll look at some important considerations when estimating a sustainable withdrawal rate. We’ll also introduce one way of doing this which is used by many financial […]
Aging in Place
Aging in place simply means continuing to live in our home as we get older. A recent AARP survey determined that 87% of adults over the age of 65 want to age in place. This month, we’ll take a closer look at whether aging at home is right for you. People Who Want to Age […]
Preparing for Incapacity
First of all, Happy New Year! I hope that 2022 will be a safe, healthy and prosperous year for everyone. This month I’d like to talk with you about incapacity – that is, how to manage things when you are unable to act for yourself. The pandemic has certainly reminded us that we can become […]
2021 End-of-Year Financial Planning
Okay, the leftover turkey has been dealt with and there are still 31 days until the end of the year. So, maybe it’s a good time to think about end-of-year financial planning. Here are a few of the more common things you might want to consider. Withholding. Ideally, the taxes withheld from your paychecks add […]
How to Title Your Assets
Asset titling is often overlooked and can be one of the most important elements of an estate plan. If asset titling has not been correctly coordinated with your estate plan, your plan may not turn out as you intended. Most of us would like to specify how the assets we accumulated over our lifetime are […]
Do You Really Need This Insurance?
Some insurance is certainly essential to our financial health. This normally includes health insurance, auto insurance and homeowner’s or renter’s insurance. Often it also includes long-term-care insurance and personal liability umbrella insurance. Business owners need additional coverage. However, there are several types of insurance that just aren’t worth the money for most of us. Here’s […]
Top Reasons to Become Debt-Free
For most of us, debt is a necessary part of life. It’s the only way we can afford big-ticket items such as a home. Unfortunately, many of us get too attached to using debt to obtain things we want (but may not actually need). So, how bad is this, really? Well, studies have shown that […]
Document Retention
Who hasn’t wondered how long we should keep various documents? Keep them too long and it becomes unwieldy and makes it hard to find what you want. Don’t keep them long enough and you may not be able to respond to the tax man or some other authority. Is an electronic copy good enough or […]