Colorado Probate Blog - Wade Ash Woods Hill & Farley, P.C.

With the recent Equifax data breach, there are precautions you should be taking to assist in keeping your identity protected.

Jury service is an integral part of our justice system. Most attorneys never get to see the inside of a jury room; this summer, however, I served as foreperson for three days for a felony trial in Denver District Court. I’m looking forward to giving you the inside scoop on what really happens behind those closed doors, from the perspective of a former litigator. Read all about my experience and my perspective in our upcoming Winter Newsletter.

Selecting your trustee is one of the most important decisions to make when creating a revocable trust. The trustee is a fiduciary with the legal obligation to carry out the directions set forth in the trust agreement. The responsibilities and duties include collection and management of assets, preparing tax returns and distributing the income and principal of the trust as the document sets forth.

“Portability” allows a surviving spouse to add a deceased spouse’s unused estate tax exemption onto his or her own exemption. Each spouse has an estate tax exemption amount of $5 million, which is indexed for inflation after 2011. In 2017, the exemption is $5,490,000. To elect portability, a client must timely file Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, which is due 9 months after the decedent’s date of death, but the due date can be extended for six months if a request for extension is timely filed.

Will Requirements