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Estate Planning Archives

Can You Plan Your Estate During A Pandemic?

With COVID-19 spreading rapidly, communities and individuals alike are racing to protect themselves and their loved ones. Many of these precautions are simple and short term, such as working with neighbors to deliver groceries while someone is in quarantine. There are also long-term estate planning steps that you can take, however, to keep your loved ones informed and your wishes respected in the face of the virus.

Your Plan Only Works If It Is There When Most Needed Estate Planning in Times of Crisis

This is the first in a series of blog posts written in response to the Covid-19 crisis. I've been hesitant to write anything that could be construed as exploiting this terrible pandemic. Yet, like so many others, I've been looking for a way to use what I know to help. Turns out that the virus has prompted a lot of interest right now in estate planning. The anxiety and confusion that permeates everyone's life right now is causing many people to question whether they are properly prepared for the future.

Supporting Adult Children Before and After Your Estate Plan

As we enter 2020, it's certainly no secret at this point that adult Millennials and Generation Z have needed to rely on their parents for financial stability. According to this article from Consumer Reports, as many as 7 out of 10 parents give more money to their adult children than they do to their own savings or retirement plans. Although this article is largely concerned with the effect this pattern of gifting has on retirement and the younger generation's independence, we'd like to look at the way these gifts affect estate planning.

Which Bank Deserves Your Money

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.

Family Conflict in Estate Planning

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

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. 

Legacy, Heritage, and Family

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.

Sponsoring Jefferson County Triad

Previous posts have touched on Karen's support of local and global nonprofits. Karen feels strongly about giving back to the community and has always been a vocal supporter, in particular, of her local senior communities. As an attorney emphasizing estate planning, Karen has the privilege of hearing many personal stories from clients about concerns and priorities among the senior citizens of Colorado. Her passion for senior issues is more than just professional, however. Promoting the physical and mental health of senior citizens is important for any healthy community.

Alyssa Gilderhus' Escape from Mayo Clinic Brings Guardianship into National Spotlight

guardianshipSometimes the news brings into focus the need for estate planning even when you "don't have an estate." This news story about a teen who alleges she was denied the ability to choose her caregivers or even leave the hospital is one example. It happened last year and did not happen here in Colorado, but these sort of things happen in too many places too often.

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Brady, McFarland & Lord, LLC
5400 Ward Road, Building 5-170
Arvada, CO 80002

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