When an agent’s power to act is contingent upon a certain event occurring, the power of attorney is considered a “springing” power of attorney. Once the triggering event occurs, the power of attorney “springs to life” and gives the agent power to act on behalf of the principal. In most cases, the triggering event in a springing power of attorney is the principal’s incapacity, as declared in writing…

A proper estate plan is one of the most valuable assets you can leave to your family. A comprehensive estate plan will provide clarity, guidance, and stability for the family you love. However, your estate plan is only effective if it is up to date… adapting to changes and mitigating new challenges. Along with other events, it is wise to have your estate plan reviewed and possibly modified if you:…

This unfortunate situation is far too common: an unresponsive spouse in a hospital bed while grieving family members wrestle with difficult medical decisions. The enormous burden that is far-too-often placed upon the shoulders of these now-fragile relatives is the decision to provide, sustain, or terminate life-sustaining procedures. What is a grieving loved one to do? The painful regret that a…

A limited liability company is a hybrid-type of legal structure that provides the limited liability features of a corporation with the tax efficiencies and operational flexibility of a partnership. The "owners" of an LLC are referred to as "members". Depending on the state, the members can consist of a single person, two or more people, corporations, other LLCs, or even other legally formed entities.

Unlike…

The main advantage of a Colorado limited liability company is that its members are protected from personal liability from business decisions or actions of the LLC. This means that if the LLC incurs debt or is sued, members are not required to satisfy claims with their personal assets. This is similar to the liability protection afforded to shareholders of a corporation. Keep in mind, however, that…