Understanding Estate Tax Planning for Colorado Residents Estate planning is a crucial step for anyone looking to secure their legacy and provide for their loved loved ones. For residents of Colorado, a unique advantage exists: Colorado does not impose a state-level estate tax or inheritance tax. This is a significant distinction from many other states that levy their own taxes on a decedent's estate or on the beneficiaries who inherit from it. While this provides Colorado residents with a notable benefit, it does not mean that estate tax planning is unnecessary. The federal estate tax still applies to estates that exceed a certain threshold, making thoughtful planning essential for many individuals and families in our state. This article aims to demystify federal estate tax planning for Colorado residents, providing practical advice, examples, and important considerations to help you navigate this complex area of law. Our goal is to equip you with the knowledge to ...
Practical Legal Guide with Expert Advice