One thing that single parents in Colorado should make a priority is estate planning. Even though the thought of not being around for their kids is not a pleasant one, the idea of having the courts choose someone random to raise their kids is even more distressing. Careful consideration should be given to the distant future so they can make plans to protect their children.
Creating a succession plan for your small business
As you near retirement as a small business owner, you need to start thinking about a succession plan. That may mean leaving the business to a family member or preparing for a sale.
MY EMPLOYEE DIED, WHAT ARE MY RESPONSIBILITIES?
A CPA just asked for my help in advising the CPA's client on how to distribute the last paycheck(s) of a deceased employee. When an employee dies, the employer needs to treat the situation similar to any other termination of an employee. The estate would be entitled to the deceased's last pay, unused vacation time, etc. as if the employee was alive but no longer employed.
Executor choice and inheritance disputes
Many people in Colorado believe that they can keep their loved ones from fighting over their inheritances with estate plans. Unfortunately, death and inheritances often bring out the worse in some people. One common reason why some individuals fight over a loved one’s estate is that they are not happy with the person who is in charge of managing it.
