Dissolution: The Inferior Default Exit Strategy
By: Lee J. Morehead, Esq. December 1, 2023 Dissolution of a business or company occurs either voluntarily or judicially. In the case of voluntary Dissolution, all owners must agree either to dissolve the entity or identify a triggering event that will cause Dissolution. To accomplish judicial Dissolution, the owner(s) seeking Dissolution must prove that it […]
Taking Advantage of the Estate and Gift Tax Exemption
By: Corey W. Moore, Esq. November 1, 2023 The United States Internal Revenue Code, Subtitle B–Estate and Gift Taxes, provides every taxpayer with the ability to exempt a certain amount of assets from their estate. The Estate and Gift Tax Exemption (“Exemption”) for a single individual in 2023 is $12.92 million, meaning an individual could […]
Country Lawyer
By Don Gregory, Esq. Submitted By Fred L. Otis, Esq.
Simplest Estate Planning
By Jeffrey T. Bedingfield, Esq. Have you ever wondered if there is a simple way to pass assets at death? Maybe for that elderly parent with few remaining assets? Well, there is. It certainly isn’t appropriate for all, but it can work well in the right situation. First, assets that name beneficiaries (IRA’s, life insurance, […]
Revocable Living Trusts for Second Homes
By Timothy P. Brynteson, Esq. Many residents of Colorado own real estate in other states. If you own a condo, townhome or other piece of real estate in such popular destinations as Florida, Arizona or California, you may want to consider holding the property in a Revocable Living Trust located here in Colorado. While many […]
Adverse Possession: Losing the Farm Without Even Knowing It
By Lia Szasz Did you know that, under Colorado statute, someone can obtain title to your land without paying for it? Under the doctrine of adverse possession, if someone uses your land continuously for 18 years, it may become theirs. This doctrine became famous when a retired judge in Boulder obtained title to part of […]
Should I Form A Corporation or an LLC for My New Business?
By Lia Szasz, Esq. Two of the most popular entities chosen by entrepreneurs when forming a new business are the corporation and the limited liability company. Both entities offer protection against personal liability for their members or shareholders, but there are many other considerations to determine which form of entity is best for that particular […]
Turning Over the Keys to Your Business
By Jeffrey T. Bedingfield, Esq. We’ve all heard the saying that there are only two things in life that are certain – death and taxes. The same might be said for your business that you’ve spent a good part of your life building. The difference is that the death of a business can be delayed […]
Is Your Property Titled Correctly?
By Timothy P. Brynteson, Esq. Most couples assume that if one them dies, their home or other real estate will pass automatically to their spouse. Normally couples own their home or other real estate “jointly” – in other words they own it together, or both of their names are on the title. While this is […]
Considering Options for Your Home If You Are Concerned About Long-Term Care
By Timothy P. Brynteson, Esq. Many of our older clients are worried about two things: 1) having the resources to afford long-term care, or qualifying for government assistance if they don’t, typically Medicaid; and 2) they want to leave their house to their heirs if it is one of their primary assets. These concerns are true […]
