For more information about the author, click to view their website: Frie, Arndt, Danborn & Thiessen P.C.
A living, or intervivos, trust may be revocable or irrevocable, and it may be funded or unfunded. A funded living trust is an alternative to a will and to probate. In a funded living trust, a person (the settlor) puts property and money into his/her trust during his/her lifetime for the benefit of him/her and possibly other family members. An unfunded living trust typically receives assets through a simple pour-over will following the settlor’s death.
Most people who are able to handle their own financial affairs usually name themselves as trustee of revocable trusts they set up. The trustee invests the trust assets and makes the assets and income available to the settlor/beneficiary during his or her life. Such a trust is almost always revocable, meaning that the settlor can revoke or amend the trust so long as he or she is able.
If the settlor/beneficiary becomes disabled, alternate trustees are usually named in the trust to assume trustee responsibilities, the most important of which is providing for the financial needs of the disabled settlor/beneficiary. A settlor will usually name a spouse, adult child, relative, friend or a bank as alternate trustees. When the settlor/beneficiary dies, the trust often terminates, and the successor trustee will distribute the trust property to the beneficiaries, as under a will. In many situations, however, living trusts will continue for the benefit of the settlor’s spouse and children.
A living trust has several advantages if it is set up properly and fully-funded, meaning all the settlor’s assets are placed in trust. First, a fully-funded trust can reduce or eliminate the need for probate upon the death of the settlor. Second, a Colorado resident who owns real property in another state can put that real estate into a living trust and thereby reduce or eliminate the need for probate in the other state. Third, a living trust may avoid the need for a conservatorship for the settlor if he or she becomes legally disabled. However, a living trust cannot avoid a guardianship, because the trustee of a living trust cannot make medical or care decisions for the settlor unless the trustee is the named agent for the settlor under a separate Medical Power of Attorney. (See Chapter 6 for more information on guardianships and Health Care Powers of Attorney.)
Many people think they need a fully-funded living trust so that probate is not necessary when they die. In some states, the probate process is cumbersome and costly, and it is thus desirable to avoid that process. In Colorado, however, probate is relatively simple and avoiding probate is not, by itself, a good reason to have a fully-funded, living trust.
Trusts are complex legal documents that require the use of competent and experienced estate planning attorneys. Preparing and managing the trust can be more expensive in Colorado than a will and probate. If the trust is not drafted correctly, significant harmful tax results may occur. You should not try to create your own trust or purchase a preprinted living trust. Initially, living trusts and wills with testamentary trusts are more expensive to prepare than wills without trusts. However, they may save you many thousands of dollars if you have a complex estate.
Bob Frie and Paul Danborn in our office would be more than happy to discuss with you if you would benefit from a Living Trust. Please call our office to discuss this with them.
When temperatures rise, so do the risks associated with heat, especially for older adults.Older individuals may not adjust as well to sudden changes in temperature, and with possible chronic health conditions or certain medications, extreme heat may cause negative health outcomes.Kavod Senior Life is well aware of these potential issues, sharing four best practices to protect people in the second half of life against the heat. Here are some tips we've learned from our 50+ years of housing and supporting older individuals in aging well!Stay HydratedWhy It Is Important: Older adults are at a higher risk of dehydration because they may not feel thirsty as often as younger people, and as mentioned above, certain medications can increase the risk of dehydration.Tips:Drink water even if you dont feel thirsty.Eat water-rich foods like fruits (e.g., watermelon, cucumbers) and vegetables.Avoid alcohol and caffeinated beverages, as they can lead to dehydration.How Kavod Responds: Hydration stations are set up in the lobbies of each building during the hottest days to give residents, staff and visitors easy access to ice cold water (with lemon and cucumber, even!)Create a Cool EnvironmentWhy It Is Important: A cool living space is crucial to preventing heat-related illnesses.Tips:Use fans or air conditioning. If air conditioning is not available, consider spending time in public places like libraries, shopping malls, or community centers that are air-conditioned.NOTE: Do not rely on fans as your main cooling source when temperatures are extreme for heat.Keep blinds or curtains closed during the hottest parts of the day to block out the sun.Use light-colored, loose-fitting clothing made of natural fibers like cotton, which are more breathable.Try to avoid using the stove or oven to cook it will make your home hotter.Take cool showers or baths to cool down.How Kavod Responds: A cooling center is set up on campus where the temperature stays at 72 degrees. Residents can get out of their apartments and socialize there without having to go outdoors, helping abate social isolation. Dietary AdjustmentsWhy It Is Important: Certain foods can help keep the body cool and hydrated.Tips:Encourage smaller, more frequent meals that are easier to digest.Include hydrating foods like soups, smoothies, and salads.Limit heavy, hot foods and opt for lighter fare like yogurt, salads, and chilled fruits.How Kavod Responds: Kavod staff serves residents cold lemonade and fresh watermelon over the weekend in the cooling center, both terrific ways to stay hydrated.Educate and EquipWhy It Is Important: Knowledge and preparation are key to preventing heat-related issues.Tips:Educate yourself about the risks of heat and the importance of staying cool.Be aware of the signs and symptoms of heat-related illnessHave access to emergency numbers and know what to do in case you experience these symptomsHow Kavod Responds: The management team reviews, prepares and hand-delivers updates to residents to best ensure everyone is educated and can take appropriate actions against the heat.ConclusionBy following these four important steps, older individuals can stay healthy and safe while enjoying all the good things summer has to offer. If you know an older person who would benefit by living in our community, please contact us for a tour, or check out our website for more information. Stay cool, everyone!Resources used in article:Center for Disease Control: https://www.cdc.gov/extreme-heat/risk-factors/extreme-heat-and-older-adults-aged-65.html#:':text=Older%20adults%20do%20not%20adjust,control%20its%20temperature%20or%20sweatNational Institute on Aging: https://www.nia.nih.gov/health/safety/hot-weather-safety-older-adultsHarvard Medicine: https://magazine.hms.harvard.edu/articles/effects-heat-older-adultsChat GPT
Dont Forget About Your Healthcare Wishes Its that time of year again the days are longer, the flowers are starting to bloom, and were itching to tackle those spring-cleaning projects! While were decluttering our homes, lets not forget another important task: reviewing our healthcare wishes. It might not be as exciting as scrubbing the fridge, but trust us, its incredibly worthwhile.Recently, I spoke with a young man who had to make the difficult decision to remove his father from life support after an accident. His father never shared his wishes about end-of-life care, and this man has been left feeling an immense burden of guilt ever since. Its a heavy weight to carry, even though he knows there was no chance of recovery. With a few conversations and simple documents, we can prevent this kind of anguish for our loved ones.We understand that talking about end-of-life decisions or medical treatments can feel uncomfortable. However, its a gift you give yourself and your loved ones. Imagine if something unexpected happens, and youre unable to speak for yourself. Wouldnt you want your family to know with certainty what kind of care youd want?Heres a quick guide for thinking through your options: Your Beliefs: Do you have religious or cultural preferences that should guide your healthcare? What matters most to you? Is independence and remaining at home a priority? Would you want all possible life-saving measures or focus more on comfort? Your Preferences: Be specific! Think about whether you want CPR in case your heart stops? Would you be comfortable with a ventilator temporarily? What are your thoughts about organ donation? Your Voice: Choose someone you absolutely trust to make decisions for you, if you are not able to. Talk to this person about your values and what kind of life youd consider worth living. Go Deeper: Get even more specific and consider how you feel about pain management. Would you consider amputation if it meant saving your life? There are no wrong answers, just whats right for you. With National Healthcare Decisions Day (April 16th) just around the corner, its the perfect reminder to formalize your wishes. Now is a good time for you to get started. If you need help, we are here to assist you with the legalities. We will make sure its all done correctly, giving both you and your loved ones peace of mind.Remember, tackling your healthcare wishes is the ultimate act of self-care. By doing so, you will ensure your voice is always heard, no matter what the future may bring. If you need help with the process, please reach out to our office for guidance and support. Call us at 724-564-6615 or email info@sechlerlawfirm.com.
As the summer heat intensifies across the country, dehydration becomes a common and potentially dangerous concern. This condition can have severe implications, particularly for seniors who are more vulnerable due to several physiological factors. Seniors face unique challenges, especially when it comes to the impact of their medication on hydration. Why Are Seniors More Prone to Dehydration?Seniors are at an increased risk for dehydration for several reasons: Reduced Thirst Signal: As people age, their bodies lose their ability to recognize thirst, making it harder to drink fluids. Lower Body Water Volume: Older adults generally have a lower total volume of body water, meaning they have less fluid to lose before dehydration sets in. Kidney Function Decline: Kidneys become less efficient at conserving water with age, further contributing to fluid loss. Chronic Illnesses: Conditions such as diabetes can worsen the risk of dehydration since they affect the body's ability to control water. In addition to these factors, medication plays a significant role in influencing fluid balance in seniors.The Impact of Medication on DehydrationAs a clinical pharmacist, I've seen firsthand how medications can contribute to dehydration, especially in older adults. One of my clients, an active senior, nearly passed out while cycling in the summer. As it turned out, he was on a diuretic medication, commonly referred to as a "water pill." Diuretics are a class of drugs that increase urination, leading to reduced fluid levels in the body. These medications, often prescribed for conditions like hypertension and heart failure, can inadvertently lead to dehydration if fluid intake isn't carefully managed. Some commonly used diuretics include bumetanide, chlorothiazide (Diuril), hydrochlorothiazide, and furosemide (Lasix). But diuretics aren't the only medications that can cause dehydration. Other drugs like these can also affect your body's water balance. Antihistamines: Often used for allergies, these can cause dry mouth and reduced fluid intake. Blood Pressure Medications: Certain blood pressure medications can increase urine output. Laxatives: They can cause fluid loss through increased bowel movements. Chemotherapies: These treatments often lead to side effects like vomiting and diarrhea, contributing to dehydration.Managing Dehydration RisksIt's important to be aware of dehydration risks, particularly for those taking medications that impact fluid balance. Regardless of whether one feels thirsty, its important to drink water throughout the day. Staying alert to the signs of dehydrationsuch as increased thirst, dry mouth, dark urine, fatigue, and dizzinesscan also help address the issue early. These symptoms are early warning signs that the body may need more fluids. Finally, anyone concerned about dehydration should consult a healthcare provider. They can adjust medication and advise seniors on managing fluid intake to prevent dehydration. At Deeper Dive Horizons, one of my priorities is to guide you and your loved ones through the complexities of medication management to improve your well-being. With over 22 years of experience, my goal is to dive deeply into your health and ensure you maintain a balanced and healthy life, even in challenging conditions like extreme heat. Schedule a consultation today to get started 888-984-8895.
Bob Frie has been an attorney for thirty-five years. He specializes in elder law, wills, estates, probate, real estate and Medicaid. In 2004, he received the prestigious "Award of Merit" from the Jefferson County Bar Association. He served as Mayor of Arvada for sixteen years ending in 1999. The Law Firm received "Law Firm of the Year" Award in 2005 from MVL / CBA.Please contact us to see how we can assist you with your legal situation.