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On 3 January 2009, the bitcoin network came into existence. Since then bitcoin, and other internet currencies have grown in popularity and credibility. Cryptocurrencies can provide a secure and universal form of payment. They can be stored digitally and can operate without the use of a middleman or bank. This article will cover the basics of cryptocurrency, how the blockchain works, and how cryptocurrencies can fit into your estate plan. What is the Blockchain?…
What is the SECURE Act? Signed into law on Dec. 20, 2019, the SECURE Act drastically changes the estate planning landscape and brings significant changes to the tax rules governing the inheritance of individual retirement accounts (IRAs). The most notable change brought by the SECURE Act is the elimination of the “stretch rule” for most non-spouse beneficiaries. Previously, beneficiaries of an inherited IRA could withdraw from inherited retirement accounts over their lifetime – called stretching…
Asset protection is a relatively recent area of the law, it only began to develop a little over four decades ago. Many of the asset protection solutions available today, such as offshore asset protection trusts began in the late 1980s, pioneered by famed Colorado attorney Barry Engel. Today, it is impossible to think about the history of asset protection without considering his advances in this field. Barry Engel was born in 1954 in the…
Revocable Trusts Irrevocable Trusts Assets are considered owned by the grantor Assets are no longer owned by the grantor Change trust document as desired Difficult or impossible to amend trust Can change the trustee Can’t change the trustee or beneficiary Avoids probate court Avoids probate court Trust assets are protected Beneficiaries pays income taxes The difference between Revocable Trusts and Irrevocable Trusts All living trusts can be revocable or irrevocable. A living trust is created…
  The Costs of Long-Term Care According to the U.S. Department of Health and Human Services, the majority of Americans will rely on Medicaid for long-term care at some point during their lives. Medicaid is the only government program that assists in paying for long term care for the elderly and disabled. It is a federal and state program that helps with medical costs for some people with limited income and resources, regardless of age.…
If you are a pet owner, you know the unconditional love that our furry friends provide. The sheer joy we experience when they interact with us each day is a feeling that’s difficult to match. It is only natural to want our pets to be loved and cared for even if they outlive us. What happens if my pet outlives me? Pets are a wonderful source of companionship, a Pet Trust can help ensure they…
Concerns about the Wuhan coronavirus, known as COVID 19, are naturally running high. Confirmed cases are still rising both at the national and state level. Here in Colorado, we have already seen over a hundred cases and unfortunately, they appear to be spread throughout the entire state. And while the number of cases will inevitably continue to increase, as in any time of crisis it is important to keep things in perspective and to take…
Speaker 1: This is Haystack Help Radio on KLZ 560. Haystack Help Radio is powered by haystackhelp.com. Finding help can be like finding a needle in a haystack, but with haystackhelp.com, finding the needle just got easier. Now, Haystack Help Radio with Scott Whatley on KLZ 560. Scott Whatley: Welcome to Haystack Help Radio. Thank you so much for joining us. Again, my name is Scott Whatley. We appreciate you being with us. Be sure…