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1 Answer | Asked in Estate Planning for Colorado on
Q: What does heirs and assigns mean in a transfer on death deed mean
Marc Carlson
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answered on Mar 28, 2023

“Heir”: An heir is someone who’s legally entitled to inherit your assets if you die intestate, meaning you pass away without a valid will or trust. Your heirs are people related to you by blood or marriage, like your spouse or children. If you die without an estate plan, your heirs will be... View More

3 Answers | Asked in Estate Planning and Tax Law for Colorado on
Q: A deed to a property goes into an irrevocable trust. Is the real estate taxable by the government?

Or is the property subject to the tax break the irrevocable trust receives?

Marc Carlson
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answered on Mar 29, 2023

My understanding is that an Irrevocable trust must distribute all income to beneficiaries each year, which makes the trust a pass-through entity. Those beneficiaries pay the taxes on income. However, capital gains are not considered income to irrevocable trusts. Instead, capital gains count as... View More

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