conten When a loved one dies: the financial side When you die, will your moneyotoThmat i's eritical to make sure the intended beneficiaries and/or uses people purchase policies and forget about set up correctly, Howard said ouh to you by Pathfinden If you don't have a joint bank acooent or a payable-on-death designee, your mon s likly to get tied up with your estate DETERMINE THE INTENTION OF INVESTMENT AND BANK ACCOUNTS after you die. This can be harmful to your amily if they need access to eash to pary the mortgage or other debts Yu willwant to have a discussion with ssets are titled properly she sald. multipke owners), it's important to do this planingoe the basiness as well as your rieving families strugple with financial tress. She said one of the eassest ways to avoid this is to set up a Reganess to set up your When someone doesn't have that set up, your wishes, If you can't afford to talk to a can get tied up for a while, she said. You nossional aiset, the Pathfinders tea till have to pay bills, eat, pay for fmeralan help. includes the titling of accounts, taxes, investments, business, insurances and cash flow, It's best to make these plans while youre healthy in order to limit the burden can help determinconyourfay ode. xpenses and other thing any accounts or policies taken out before CREATE A 'NO DECISION'ZONE Howard said she gets questions from the mortpape or other dkebts immediateh to the Social Security gotten around to changing the titling of create end-of-life plans The team includes However, what if you had a ts, there could be a sister diet asking whether they should pay o card account with the deceased person? So many online checklists sar you should to colleet fonds yuafter a death. aychology. Daily said thereees have been some unespected deaths in No, dont do anything." Howard said. You call everyone immediately when somecee need to assess what you have, where ins at and how it can be utiliced foe eashow with your name on it, but from an account needs now or down the road. Give some time. Pigure out the immediate needs, but you want to be very careful community that have left sp T's amaned at how often it's eontentlous, Ryerson said ontentious" dies but If you are using a credit card financial aftermath. Pathfinders recognined UNINTENDED CONSEQUENCES a need to belp people make these plans before it's too late. opened under the name of the the eredit card company may elose your account The estates of desoendents without a will un into chas Sally Potvin, a fomer CPA on the continaed to volunteer her time to help tlls ou pay and whose naered If your spesse dies, you don't want bo caneedl the credit cards right away. Its stuff ike this-who's responsible for what Potyin said. My dad died on July 1 Pathfinders team who they are in because you may or may not and Social Security had already sent him a check. They ended up taking it back after he died-imagine if he hadn't kept much working with one ease for which a judge is trying to deternsine heirs from a list65 relatives designation of priority of ereditors. Ifyou are unsure if you have enough assets to o give people some control with this information. oney in that bank account? pay all of the debts, you should not pay any debts until you can determine what debts Thás is the second part in a three pont have priorty over other debts Yoa yerics about end-ofige planning The hin MAKING SURE ALL ACCOUNTS AND Getting your financial act together is about so thhery don't have to be harrassed. Ther d to have someone guide you through eeling empowered and feling that yo no idea that people might be coming and your family members have cholces according to Danicle Howard, a certified money-driven when it s inancial planner in Basalt who is part of part wilfos on the emotiowal side of making end-Fhihe plans The first part and that analysis, Doremus said The funeral home files foe a death certificate and also communicates that out of the woodwork. So much of this is other lgal ts WHAT IS PROBATE? We're all going to pass their finanoes and prpare for unintended Probate is the legal process that ransfers otle of assets from the decedent to his or her heirs Your estate may or may not have to go through probate depending on how your assets were owned when you died ime, she said. "With financial planning To make it casy on your family, make a list oeverything Potvin said. "Let them know + In Colorado, there are three types of probate: Small estates under $50,000, uncontésted estates, connested estates and invalid or questionable wilb what you want to have done iness, insurances and cash flow- it's an ncredibly comprehensive, robast process: For couples with children younger than But that doesnt mean ithto be PAN ESTATE PLAN for your children, said Aspen Estate/TratA god estate plan provides both financial and personal benefits this includes setting up attormey Jeanne Doremus, who is part of financal benefits will address the preservation and growthofyour assets both whie you are alive and for your beneáciaries after your death, and should include legal strategies to minimine tax Sabilities upon your deth are still lining and you are accomplish with it, she said. "It's about have and how to utilise them, and aboutalrght to the a anfortunate One important area is life insurance. Some your spouse h Personal benefits can include the preparation of documents such as powers of attorney and advanced medical directives that allow you to document and control decisions with segard to who should speak for you and who should care for you when you are unablie to and who should be amount above $200,000 for managing your if you want your asset to go 100 pereent to Source: Colorado Bar Association Art! A show and sale to benefit Pathfinders The CMC Aspen Gallery Exhibition & Receptions-May 14th & 15th-4 p.m.-7 p.m conten When a loved one dies: the financial side When you die, will your moneyotoThmat i's eritical to make sure the intended beneficiaries and/or uses people purchase policies and forget about set up correctly, Howard said ouh to you by Pathfinden If you don't have a joint bank acooent or a payable-on-death designee, your mon s likly to get tied up with your estate DETERMINE THE INTENTION OF INVESTMENT AND BANK ACCOUNTS after you die. This can be harmful to your amily if they need access to eash to pary the mortgage or other debts Yu willwant to have a discussion with ssets are titled properly she sald. multipke owners), it's important to do this planingoe the basiness as well as your rieving families strugple with financial tress. She said one of the eassest ways to avoid this is to set up a Reganess to set up your When someone doesn't have that set up, your wishes, If you can't afford to talk to a can get tied up for a while, she said. You nossional aiset, the Pathfinders tea till have to pay bills, eat, pay for fmeralan help. includes the titling of accounts, taxes, investments, business, insurances and cash flow, It's best to make these plans while youre healthy in order to limit the burden can help determinconyourfay ode. xpenses and other thing any accounts or policies taken out before CREATE A 'NO DECISION'ZONE Howard said she gets questions from the mortpape or other dkebts immediateh to the Social Security gotten around to changing the titling of create end-of-life plans The team includes However, what if you had a ts, there could be a sister diet asking whether they should pay o card account with the deceased person? So many online checklists sar you should to colleet fonds yuafter a death. aychology. Daily said thereees have been some unespected deaths in No, dont do anything." Howard said. You call everyone immediately when somecee need to assess what you have, where ins at and how it can be utiliced foe eashow with your name on it, but from an account needs now or down the road. Give some time. Pigure out the immediate needs, but you want to be very careful community that have left sp T's amaned at how often it's eontentlous, Ryerson said ontentious" dies but If you are using a credit card financial aftermath. Pathfinders recognined UNINTENDED CONSEQUENCES a need to belp people make these plans before it's too late. opened under the name of the the eredit card company may elose your account The estates of desoendents without a will un into chas Sally Potvin, a fomer CPA on the continaed to volunteer her time to help tlls ou pay and whose naered If your spesse dies, you don't want bo caneedl the credit cards right away. Its stuff ike this-who's responsible for what Potyin said. My dad died on July 1 Pathfinders team who they are in because you may or may not and Social Security had already sent him a check. They ended up taking it back after he died-imagine if he hadn't kept much working with one ease for which a judge is trying to deternsine heirs from a list65 relatives designation of priority of ereditors. Ifyou are unsure if you have enough assets to o give people some control with this information. oney in that bank account? pay all of the debts, you should not pay any debts until you can determine what debts Thás is the second part in a three pont have priorty over other debts Yoa yerics about end-ofige planning The hin MAKING SURE ALL ACCOUNTS AND Getting your financial act together is about so thhery don't have to be harrassed. Ther d to have someone guide you through eeling empowered and feling that yo no idea that people might be coming and your family members have cholces according to Danicle Howard, a certified money-driven when it s inancial planner in Basalt who is part of part wilfos on the emotiowal side of making end-Fhihe plans The first part and that analysis, Doremus said The funeral home files foe a death certificate and also communicates that out of the woodwork. So much of this is other lgal ts WHAT IS PROBATE? We're all going to pass their finanoes and prpare for unintended Probate is the legal process that ransfers otle of assets from the decedent to his or her heirs Your estate may or may not have to go through probate depending on how your assets were owned when you died ime, she said. "With financial planning To make it casy on your family, make a list oeverything Potvin said. "Let them know + In Colorado, there are three types of probate: Small estates under $50,000, uncontésted estates, connested estates and invalid or questionable wilb what you want to have done iness, insurances and cash flow- it's an ncredibly comprehensive, robast process: For couples with children younger than But that doesnt mean ithto be PAN ESTATE PLAN for your children, said Aspen Estate/TratA god estate plan provides both financial and personal benefits this includes setting up attormey Jeanne Doremus, who is part of financal benefits will address the preservation and growthofyour assets both whie you are alive and for your beneáciaries after your death, and should include legal strategies to minimine tax Sabilities upon your deth are still lining and you are accomplish with it, she said. "It's about have and how to utilise them, and aboutalrght to the a anfortunate One important area is life insurance. Some your spouse h Personal benefits can include the preparation of documents such as powers of attorney and advanced medical directives that allow you to document and control decisions with segard to who should speak for you and who should care for you when you are unablie to and who should be amount above $200,000 for managing your if you want your asset to go 100 pereent to Source: Colorado Bar Association Art! A show and sale to benefit Pathfinders The CMC Aspen Gallery Exhibition & Receptions - May 14th & 15th - 4 p.m. - 7 p.m