Colorado Estate Planning Blog

Paying Hourly Employees: What Counts as "Hours Worked" Colorado?

By Law Offices of Karen Brady, P.C. posted in Business Planning on Tuesday, June 11, 2019
Last modified on Sunday, June 16, 2019.

As small business attorneys, our clients often ask about laws that mandate how and when employees must be paid.

Many small businesses employ workers who are considered non-exempt under the Fair Labor Standards Act (FLSA). The employer must pay those employees at least minimum wage for all "hours worked." Overtime requirements to are determined by this standard of "hours worked."

For some employers, however, the activities that qualify as "hours worked" may be more complicated than first appears. A few of the examples below have been classified by the U.S. Department of Labor as work and therefore must be compensated as hours worked.

What to consider before buying a business

On behalf of Brontie Quinn of Law Offices of Karen Brady, P.C. on Wednesday, May 29, 2019
Last modified on Wednesday, May 29, 2019.

Entrepreneurship is part of the spirit of America, the land of opportunity. Many have worked hard from the ground up to build successful companies. Perhaps you want to take part in the American dream but do not want to start completely from scratch.

An alternative action is to buy an existing business. Many owners want to sell, and not just because the company may be in financial hot water. The person may simply be ready to move on to a different phase of life or start another business and give full attention to that one. If looking to buy, remember to consider these important factors.

Which Bank Deserves Your Money

By Law Offices of Karen Brady, P.C. posted in Estate Planning on Monday, May 13, 2019
Last modified on Monday, May 13, 2019.

A father who lived in Colorado named his son, who lives out of state, as personal representative of his will. The father had a safe deposit box in Colorado, and after his death the bank insisted that the son was the only person who could access the safe deposit box, and that he must travel across the country to do so. The bank would not allow the son to authorize his sister, who lived in Colorado, to access the account. The paperwork that the bank demanded showed their ignorance of both the situation and Colorado law, and eventually the son had to hire Karen to correct the miscommunication with the bank.

Have You Signed A Personal Guarantee for your Business Debts? 5 Ways Small Business Owners Can Reduce Personal Liability

By Law Offices of Karen Brady, P.C. posted in Business Planning on Wednesday, May 8, 2019
Last modified on Thursday, May 9, 2019.

As a small business owner myself, I have an affinity for those who choose to hang out their own shingle. I like to help small business owners minimize their risk.

One way owners of closely held businesses face personal risk is through a personal guarantee. You set up a corporation or limited liability company precisely to limit your personal risk. Now in order to get a lease or financing, you are being asked to sign a personal guarantee.

Family Conflict in Estate Planning

By Law Offices of Karen Brady, P.C. posted in Estate Planning on Wednesday, April 24, 2019
Last modified on Wednesday, April 24, 2019.

Communication between family members can be difficult even under the best of circumstances. No matter how much we love and want to support each other, it can be easy for old baggage and disagreements to get in the way. Unfortunately, estate planning often does not occur under the best of circumstances, so it came as no surprise to us that a recent survey identified family conflict as the biggest threat to estate planning.

Common legal myths about estate planning

On behalf of Brontie Quinn of Law Offices of Karen Brady, P.C. on Wednesday, April 3, 2019
Last modified on Wednesday, April 3, 2019.

It is vital for all American adults to take a more proactive approach to their legacy. All adults need to start estate planning well in advance when they are still in a good state of mind to do so. You need to protect your assets and finances so you can pass down important items to your children and other loved ones.

There are numerous myths that persist around estate planning. Many of these myths cause people to make errors in their paperwork. It is paramount to debunk these myths so that Colorado residents can become better prepared for their golden years.

Do You Really Need a Will?

By Brontie Quinn of Law Offices of Karen Brady, P.C. posted in Wills on Friday, March 15, 2019
Last modified on Friday, March 15, 2019.

According to a 2017 survey , only 4 in 10 American adults have estate planning documents.Wills and estate planning are associated with old age, and it's all too easy for us to convince ourselves that we can put off estate planning for decades to come. Unfortunately, avoiding conversations about death doesn't actually ensure immortality, and none of us can know when estate planning documents might be necessary.

In Colorado, What Assets Are Probated?

By Law Offices of Karen Brady, P.C. posted in Probate on Thursday, March 14, 2019
Last modified on Monday, March 18, 2019.

We recently got this question from a former client:

Would my bank accounts, Roths or IRAs, avoid probate and the $$ go straight to whoever my beneficiaries may be, or would that have to go to probate?

While we can't provide specific legal advice based on a question like that, we can direct people to general information, like this section of Karen's book, Your Legacy: Meaningful Estate Planning.

Intersection of Personal Injury Matters and Probate

By Law Offices of Karen Brady, P.C. posted in Probate on Tuesday, March 12, 2019
Last modified on Monday, March 18, 2019.

Author - Tony C. Rossi, Esq. Law Offices of Karen Brady, P.C.

Co-Author - Christopher Nicolaysen Springs Law Group, LLC

There are many times when personal injury matters involve probate rules and procedures. In many circumstances, the trial court in a personal injury case cannot approve a trust, for example a special needs trust, for a minor or a person who is incapacitated. In most cases, probate court approval is also necessary. The original court often retains jurisdiction and requires approval of distributions. A budget will be submitted and approved by the court so that future court approval is only necessary for certain changes.

Legacy, Heritage, and Family

By Brontie Quinn of Law Offices of Karen Brady, P.C. posted in Blog on Monday, February 25, 2019
Last modified on Monday, February 25, 2019.

When a client comes into Karen's office for the first time, she asks them to consider their heritage. As she likes to say, your heritage is someone else's legacy. Estate planning, for Karen, is about the connection between generations and the memories we leave with one another.