When a loved one passes away, his or her estate typically goes through probate. This is a legal process that may be necessary for people who have created a will or for those who have not created a will. NOTE: If you want to help your loved ones avoid probate after you pass away, you…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain limited liability company (LLC). If you are planning to start a business, it is advisable to create a business entity such as a sole proprietorship, corporation,…
A trust is a legal method to transfer your assets to another person or persons (trustees) who are responsible for holding your assets on behalf of your beneficiaries. You can also name yourself as the trustee of your trust and maintain complete control over your assets. Revocable living trusts are often recommended because they can…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain estate law. Estate law may sound like something that would only apply to the rich and famous – or something that only older people would need…
A conservatorship is a legal appointment of a person who has been tasked with managing another person’s financial or life affairs. A conservatorship may be deemed necessary to protect an incapacitated person, a minor or an adult who the court feels is unable to properly care for his or her own financial affairs. (For example,…
Adulting is hard sometimes! Many adult responsibilities – even mundane ones – are necessary to fulfill your obligations: paying monthly bills, filing tax returns, purchasing/maintaining/selling a home or automobile, making/managing investments, etc. We often take for granted our ability to manage such tasks – even if they are not always easy or fun to do.…
A legal guardian is a person who is legally responsible for the care and well-being of a ward: a minor or an adult who cannot provide adequate self-care. A guardian may be appointed by the court (perhaps after being specifically named within an estate planning document) if the parents are deceased or if they are…
Welcome to Law Lingo: a monthly blog series brought to you by Brown & Crona, LLC that explains estate planning terminologies in simple terms. This month we will explain the concept of personal autonomy. Personal autonomy is the ability to live life on your own terms, according to your own belief system and preferences –…
There is a reason why a living will in Denver is such an important legal document: it cannot be changed by anyone other than the person who writes it. If you have prepared a living will, this means you have stated in writing what type of medical care you want administered if you become incapacitated…
In 2008, singer Britney Spears lost full control over her estate and assets (today estimated at $60 million) when her father and an attorney were named the co-conservators of her estate. A conservator is a person(s) chosen by the courts to protect an incapacitated or incapable adult’s financial affairs and estate. In this case, the…
