Schroer & Williams Law Offices, PLLC

What retired military families should know about estate planning

2026-06-11T11:32:17Z

As a retired military member in Colorado, your financial picture looks different from most civilians. You have a pension, survivor benefits and possibly assets built across multiple duty stations. Standard estate plans are not built with any of that in mind. That is why understanding how these pieces fit together is where a solid plan begins.

Your military pension and survivor benefits have their own rules

Your pension does not pass through a will or trust. It ends when you die unless you signed up for the Survivor Benefit Plan (SBP) at retirement, which continues a monthly payment to your surviving spouse or eligible dependents. The SBP operates separately from everything else in your estate plan, so you need to plan your other assets around what it covers and what it does not.

Your spouse may now receive both SBP and DIC payments in full

As of January 2023, surviving spouses no longer have to choose between SBP payments and Dependency and Indemnity Compensation (DIC). If your spouse qualifies for both, they can receive the full amount of each. If your estate plan was drafted before this change, it is worth a review.

The will your military attorney drafted may not be enough

Military legal assistance helps you write a will, but that is typically where it stops. A will alone still goes through probate court when you die, which takes time and costs money. It also does not coordinate your military benefits with your other assets like your home and bank accounts. A civilian estate planning attorney can build a more complete plan that does both.

Your military career may complicate probate

If you owned property in multiple states during your service, your family could face a separate probate process in each of those states when you pass. That means more time, more legal costs and more stress for the people you are leaving behind. A revocable living trust solves this by passing your assets directly to your beneficiaries without going through probate in any state. It also puts a plan in place for managing your assets if you become incapacitated before you die.

An outdated TSP designation can override your estate plan

Your Thrift Savings Plan (TSP) passes to beneficiaries through a separate designation on file, not through your will or trust. If that designation is outdated, your TSP could pass to the wrong person regardless of what your other documents say. It is a small update that most people put off, and one that can make a significant difference.

Your service built something worth protecting

You spent years making sure others were taken care of. Now it is time to make sure your family is too. An estate planning lawyer in Colorado who understands military benefits can review what you have, fill the gaps and build a plan that works for your family on every front.

Trusts for charitable giving: How to use a trust to support your favorite charity

2026-04-17T14:09:04Z

You want to help causes you care about while also reducing your tax bill. Most people think charity means writing checks during their lifetime. However, special trusts let you support charities, get tax breaks and keep some control over your money. Colorado residents have several options for combining charitable goals with smart financial planning.

Types of charitable trusts explained simply

Different trust types work in different ways depending on your needs. Here are some common examples:

Charitable remainder trust: You put assets into a trust that pays you income for years or for life. When you die or the time period ends, the charity gets what remains. Think of it as getting paid first, then the charity receives the leftovers.
Charitable lead trust: This works backwards from the first option. The charity gets payments for a set number of years. After that time ends, your family members receive whatever assets remain.
Charitable gift annuity: You give money or property to a charity. They promise to pay you a fixed amount every year for the rest of your life. You get reliable income and help a cause you believe in.
Donor-advised fund: You put money into a special account, get a tax deduction right away and then recommend which charities should receive grants over time. Your contributions can grow before you give them away.

Each choice affects when the charity gets assets and when you or your family receive benefits.

Tax benefits and important rules

These trusts can lower your taxes in different ways. You might reduce your income taxes the year you set up the trust. You could avoid paying capital gains taxes on valuable stocks or property. Your estate might owe less in taxes after you die.

The catch is that these trusts follow strict IRS rules. You must give charities certain minimum amounts. You cannot take your money back once you create most of these trusts. The tax code gets complicated quickly. Getting estate planning help from trusted advisors ensures your charitable trust works the way you want while following all the rules.

How estate planning protects veterans’ assets and benefits

2026-02-06T14:43:36Z

If you served your country and now call Colorado home, you have earned access to support that can make a real difference in your life. But navigating Veterans Affairs (VA) benefits and Medicaid at the same time may become a challenge. This guide covers how you can protect your assets while securing the benefits you deserve.

Where VA benefits and Medicaid intersect

VA pension programs such as Aid and Attendance give monthly payments to eligible wartime veterans who need help with daily activities and meet certain financial requirements. In contrast, Medicaid (also called Health First Colorado) mainly covers long-term care costs for people with limited income and assets. Beyond their different purposes, the financial thresholds between these programs also differ significantly. The VA pension program sets a net worth limit of $163,699 as of December 2025. This limit includes your assets plus your annual income after you subtract unreimbursed medical expenses. Colorado Medicaid, on the other hand, requires single long-term care applicants to have $2,000 or less in countable assets. The programs also treat asset transfers differently. The VA reviews transfers of "covered assets" within a three-year window, while Colorado Medicaid extends this period to five years. If you transfer holdings for less than fair market value during either timeframe, you can face delays in your eligibility.

How asset protection strategies may help preserve both

Protecting your assets while staying eligible for benefits often requires a layered approach. Here are some strategies worth exploring:

Setting up an irrevocable funeral trust or prepaid burial plan, as these are generally considered exempt assets under both programs
Exploring a Qualified Income Trust (Miller Trust) if your income exceeds Colorado Medicaid's monthly limit of $2,982
Looking into the state's long-term care partnership program, which might allow you to protect assets equal to what your partnership insurance policy pays out

Each of these approaches carries its own rules and risks. Consulting with an attorney can help you determine which options fit your broader estate plan.

What you should know about maximizing coverage

For veterans, the key to maximizing coverage often lies in coordinating VA benefits with these state programs. VA Aid and Attendance payments, for example, may not always count as income for Medicaid purposes, which could allow you to receive both forms of assistance. Starting the planning process early tends to offer the most flexibility. Because both the VA and Medicaid impose lookback periods, giving yourself enough lead time before you need care can open up strategies that would otherwise be unavailable.

How to safeguard your blended family’s legacy and assets

2025-12-18T08:31:29Z

Building a life with a new spouse while honoring commitments to your children from a previous marriage requires thoughtful planning. However, because of your blended family, a standard estate plan may not be enough to meet all of your wishes. This article explains how a customizable revocable trust might address your concerns.

Why blended families face distinct estate planning obstacles

According to the U.S. Census Bureau, the American Community Survey identified 2.4 million stepchildren living with a parent or guardian nationwide in 2021. The main estate planning issue these families face centers on competing interests. Colorado intestate succession laws illustrate this problem. When someone dies without an estate plan and has children from a prior relationship, the surviving spouse does not automatically inherit everything. Per current state law, your surviving spouse receives the first $150,000 (adjusted for inflation) of your estate, plus half of the remaining balance, while your children would inherit the other half. This means they could receive significantly less intended or be forced into a financial partnership with a stepparent.

How revocable trusts offer adaptable asset protection

Established during your lifetime, a revocable trust is a legal structure designed to hold ownership of your assets. This offers the following advantages:

You can decide which assets go to your children and which go directly to your spouse
You can specify different treatments for different categories of assets. For example, your home might go to your children, while investment accounts provide income to your spouse
Assets in the document avoid probate, which means faster distribution and privacy since probate records are public in Colorado
You can name a successor trustee to manage assets if you become unable to do so yourself, avoiding the need for a court-appointed conservator to manage your finances

You can structure the trust to become irrevocable regarding your share of the assets upon your death. This design prevents your surviving spouse from altering the terms later, providing a much stronger safeguard that the trustee will respect your wishes.

Implementing your trust

Setting up a revocable trust involves several practical steps beyond drafting the document itself. The first step is funding the trust, which means transferring ownership of your assets into it. For real estate in Colorado, this requires recording a new deed along with a Statement of Authority to properly establish the trust's legal ability to hold title. Some assets, like vehicles, may be easier to leave outside the trust and address through a pour-over will that directs them into the trust at your death. However, be aware that if the total value of assets left outside the trust exceeds the state's small estate limit, those assets must go through probate before they can reach the trust. Coordination between your trust and beneficiary designations on other accounts is essential as well. Retirement accounts and life insurance policies pass according to their named beneficiaries, not your terms. If you name your spouse as the beneficiary of your 401(k) but your trust says those funds should go to your children, your spouse will receive the retirement account. Communication with family members about your trust can prevent misunderstandings and reduce disputes. Some families hold a meeting where an attorney explains the document's structure so everyone understands the reasoning behind your decisions.

Navigating guardianship and mental health needs in Colorado

2025-10-20T07:10:34Z

Your family member deserves to live with dignity and safety even when mental health needs make their daily life difficult. Many elderly people in Colorado struggle to manage their personal affairs or make sound financial decisions because of mental illness. It’s nothing to be ashamed of. In fact, there are many legal protections in place to ensure you can help them receive proper care while preserving as much of their freedom as possible. Guardianship and conservatorship both exist to support your loved one thrive with appropriate support.

Guardianship and mental health

If you’re living with mental health issues, sometimes it can hinder you from receiving proper treatment that you need. A legal guardian can help make those personal decisions for you when you truly cannot manage these decisions independently. If you’re a guardian for a family member living with mental health conditions, this means that you can advocate for them in terms of their:

Healthcare choices
Living arrangements
Daily care needs
Access to essential services
Health treatment plans

Through guardianship, you can help your family member maintain stability when mental health issues make self-care impossible.

Conservatorship and mental health

A conservator is someone who helps you manage your financial affairs and assets when you can no longer handle money matters. If you’re a conservator for a family member, your main role is to ensure that their financial resources support their daily care needs and quality of life. Hence, this means that you can advocate for their in terms of:

Managing their income
Paying their bills
Paying for their essential care services
Protecting their property
Protecting them from financial exploitation

Financial protection through conservatorship helps keep your loved ones stable and in treatment during mental health crises.

How these protections support their quality of life

Your elderly loved ones deserve protection that supports their dignity and health. Sometimes having mental illnesses impairs their ability to recognize that they need help. Having these legal protections in place helps you step in and make these important decisions for them when needed. Reaching out for guidance about these options and taking action today can help you prevent critical situations that could disrupt their lives and yours in the future.

Estate planning for elderly parents with dementia or Alzheimer’s in Colorado: Special considerations

2025-08-27T18:36:28Z

When elderly parents are living with dementia or Alzheimer’s, crafting or revising their estate plan and/or long-term care planning documentation requires special care and attention to better ensure that their needs are met and their wishes are respected. In Colorado, state-specific laws govern capacity, guardianship, estate planning concerns and asset protection. As such, families must take both thoughtful and legally-informed steps to safeguard both the health and financial security of their loved ones.

Special considerations

Acting early when it comes to elder and estate planning is important when a parent’s mental capacity is in decline, since dementia and Alzheimer’s are progressive conditions that can limit a person’s ability to make enforceable legal and financial decisions. In Colorado, individuals must have the mental capacity to understand and sign estate planning documents such as wills, trusts and powers of attorney before a court will enforce their wishes with any confidence. If a parent is in the early stages of dementia, there may still be time to formalize their wishes with valid legal instruments. Waiting too long could mean that court intervention, such as a guardianship or conservatorship, may become necessary. Powers of attorney are also important considerations. A durable financial power of attorney allows a trusted person, often an adult child, to manage financial accounts, pay bills and handle property transactions on behalf of a vulnerable parent. A medical power of attorney or healthcare proxy gives authority to make medical decisions when the parent can no longer do so. Together, these documents prevent costly and stressful court proceedings while ensuring that an adult child entrusted with this authority understands and respects their parent’s values and wishes. Finally, it is unquestionable that Alzheimer’s and dementia often require extensive medical treatment, home health services or nursing home placement. The costs can be overwhelming. In Colorado, Medicaid can help cover long-term care, but eligibility requires careful planning to avoid spending down assets too quickly or unintentionally disqualifying a parent from benefits. Strategies such as Medicaid-compliant trusts may help preserve resources for a healthy spouse or future generations while still securing necessary care. Protecting assets also involves using tools such as revocable living trusts or, in some cases, irrevocable trusts. These instruments allow families to manage property efficiently, avoid probate and establish clear directions for how assets should be distributed. For parents with dementia, trusts can also provide oversight by placing control in the hands of a reliable trustee who can follow their wishes even after they lose the ability to manage their personal finances themselves. In Colorado, estate planning for parents with dementia or Alzheimer’s is about balancing immediate caregiving needs with long-term asset protection. Seeking personalized legal guidance is a good way to get started.

5 common mistakes people make when creating a will (and how to avoid them)

2025-06-23T16:57:54Z

Drafting a will safeguards your intentions and provides clarity for your loved ones. Yet, common missteps can diminish its effectiveness or generate unnecessary complications. These oversights are avoidable with some foresight and planning. Here are five frequent errors and strategies to avoid them.

Forgetting to update your will

Life circumstances evolve—marriage, divorce, children, relocation. If your will doesn't reflect these changes, your assets might not be distributed as intended. Regularly review your will, especially after major life events, to ensure it remains current and accurate. This simple review can make a significant difference in the handling of your estate.

Failing to name a backup executor

Appointing only one executor can create problems if that person becomes unavailable. Designating an alternate executor provides a safeguard, ensuring someone dependable can administer your estate without delay or legal disputes. A reliable backup also offers peace of mind, knowing someone trustworthy is prepared to step in if necessary.

Not being specific with assets

Ambiguous language often leads to misinterpretation. Rather than referring broadly to "personal belongings," itemize particular assets such as vehicles, jewelry, or real estate. Specific instructions reduce the likelihood of confusion or conflict among heirs. Detailed descriptions also make the probate process smoother and more efficient.

Ignoring state legal requirements

Wills in Colorado must follow specific legal guidelines to be valid. Colorado requires that the will be in writing, signed by the testator, and witnessed by two individuals or notarized. Mistakes in execution or missing signatures could lead to the will being contested or deemed invalid. Familiarizing yourself with Colorado's laws ensures your will stands up in probate and reflects your intentions clearly

Storing the will in a hard-to-find place

An inaccessible will serves no purpose. Store your document in a secure but known location—such as a fireproof safe—and inform a trusted individual of its whereabouts. You might also consider using a professional document storage service. Accessibility is key when time is of the essence. Avoiding these pitfalls ensures a clearer, more enforceable will. Taking time to draft a precise, legally sound document minimizes future complications and helps your beneficiaries follow your intentions. Proactive steps today can save your loved ones stress and uncertainty tomorrow.

The hidden costs of probate

2025-05-08T15:04:18Z

Probate seems like a straightforward process, but the costs associated with it can surprise you. While many people think of probate as just paperwork and legal formalities, it involves much more. Hidden expenses can add up quickly, so understanding them is important for preparing for what’s ahead.

Administrative fees

You might encounter administrative fees as one of the first hidden costs in probate. These costs cover filing the necessary paperwork with the court and handling other administrative duties. These fees usually depend on the estate’s value and can be surprisingly high. Even if the estate is not very large, the paperwork and court costs can add up.

Executor fees

When an executor is appointed to handle the estate, they earn compensation for their work. While this fee is not fixed, it’s often a percentage of the estate’s value. Executors spend time managing the estate, paying debts, and distributing assets. If the process takes longer, their fees can take a significant portion of the estate.

Attorney fees

Attorney fees also factor into the cost of probate. Legal counsel is often needed to ensure the estate settles correctly. Lawyers typically charge hourly rates or a flat fee. Depending on the estate’s complexity, legal fees can range from a few hundred to several thousand dollars. The more assets and disputes involved, the higher the cost.

Miscellaneous costs

Other smaller costs might not be immediately apparent. These can include appraisal fees for valuable items, bond costs, and expenses related to property maintenance. For example, if real estate is involved, you may need to maintain the property while probate continues. Even after these costs, the estate may still face additional taxes or fees depending on local laws and regulations. Though probate often becomes necessary, you can prepare for it better by being aware of these hidden costs.

What challenges can arise during probate?

2025-03-04T14:29:43Z

When a loved one dies, probate can bring extra stress during an already challenging time. Many families face roadblocks during this process. Let's look at the most frequent issues and how to deal with them.

What is probate and why does it matter?

Probate lets the court check if a will is genuine and helps split up assets after someone dies. In Colorado, this process runs through the El Paso County Probate Court. Most cases take six months to a year to finish. Here are some common problems that can slow down probate

Family fights about the will

Sometimes, family members say someone forced the deceased to change their will. Others might claim their loved one wasn't thinking clearly when they wrote it. These fights can stop probate dead in its tracks.

Hard-to-find assets

Some assets, like business shares or digital money, can be tough to track down. Getting the right value for houses and land in Colorado Springs also takes extra work.

People who want money from the estate

In Colorado, people have one year after someone dies to ask for money from the estate. This includes banks, credit card companies and other groups that say they're owed money.

Tax headaches

Big estates might face federal tax issues. Plus, someone must file tax returns for the person who died and their estate.

Problems with estate managers

Estate managers (also called personal representatives) sometimes make mistakes or poor choices. When this happens, other family members often need help to fix things. These warning signs often show up early in the probate process:

Money starts disappearing from accounts.
Family members stop talking to each other.
Papers and records go missing.
Bills pile up without payment.
The estate manager won't share information.

Each of these signs needs quick action to prevent more significant troubles. If you spot any of these issues during probate in Colorado Springs, talk to a probate lawyer immediately. The right legal help early on can save you time, money and stress later.

Protecting your legacy: Estate planning for peace of mind in Colorado

2024-12-31T19:01:44Z

Estate planning is more than just writing a will. It's about ensuring your wishes are clear and providing for your loved ones after you're gone. A comprehensive estate plan can help your family avoid conflict and ease the burden of managing your affairs during a difficult time. While many people associate estate planning with the elderly, it's essential for all adults regardless of age or net worth. Unexpected events can happen anytime, and having a plan safeguards your loved ones and ensures your assets are distributed according to your wishes.

Clear communication: Preventing family disputes

One of the primary benefits of estate planning is that it allows you to communicate your wishes regarding your assets and healthcare decisions clearly. This clarity can prevent misunderstandings and disagreements among family members during an already emotional time. By specifying how you want to distribute your property, you can minimize the potential for conflict and ensure your loved ones understand and respect your intentions. You can also designate guardians for minor children and make arrangements for their care, relieving your family of this difficult burden during a time of grief.

Probate and beyond: Simplifying the process for your heirs

A well-crafted estate plan can significantly simplify the probate process for your heirs. Probate is the legal process of administering a deceased person's estate, which can be time-consuming, complex and expensive. You can avoid probate altogether for certain assets through proper estate planning tools like trusts and beneficiary designations. This allows your loved ones to access funds and property more quickly and with less hassle. A comprehensive estate plan also addresses incapacity planning, ensuring your financial and healthcare decisions are handled according to your wishes if you become unable to make them yourself. Estate planning is a gift of clarity and peace of mind for you and your loved ones. By creating a comprehensive plan, you can protect your legacy, minimize the stress on your family and ensure your wishes are honored.