A Qualified Personal Residence Trust (QPRT) can be a useful estate planning tool for strategically reducing gift and estate tax burdens on your beneficiaries when the asset is transferred. How QPRTs Work: A QPRT is an irrevocable trust. Once you transfer a property into the trust, you will not be able to take back ownership. […]
Hackstaff, Snow, Atkinson & Griess is proud to announce that Of Counsel Ann West recently closed a large sale of the Universal Tractor Co., a farm and construction equipment dealer, to Kubota of Denver. Universal Tractor Co. has been a family owned and operated fixture in the West Denver community for 74 years. Under its […]
Most people are aware that disinheriting someone is the intentional act of preventing a person from receiving a share of the deceased’s estate. But “accidental” or “unintended” disinheritance is what happens when someone fully intends to leave assets to a family member, but improper or inaccurate estate planning practices result in that person being disinherited, […]
You’ve sold or merged your business, and the transaction has concluded. The next step is corporate dissolution, right? Actually, no. There are a few very good reasons why you shouldn’t dissolve your company immediately after selling it. There is a lot of conflicting advice out there about how to handle wrapping up a business after […]
One of the first steps to the process of mergers and acquisitions (M&A) is introducing confidentiality and non-disclosure agreements (NDAs). This step is crucial in the beginning as it details exactly what information within the buyer and seller exchange should be protected as confidential, thus limiting how the buyer can utilize that confidential information. NDAs […]
Effective January 1, 2024, the full benefits of the Colorado Paid Family and Medical Leave Insurance (FAMLI) Act officially became available. (Premium contributions for the plan began January 1, 2023.) Key FAMLI Act Features Covered Colorado workers can receive up to 12 weeks of paid leave per calendar year without the risk of losing their […]
While 2024 did not usher in many state tax law changes, there are a couple of items that Coloradans should pay attention to. One-Time TABOR Refund During a special session in November 2023, HB23B-1002 was approved to increase the earned income tax credit for the 2023 tax year. In essence, the act creates a one-time […]
Hackstaff, Snow, Atkinson & Griess is extremely proud to announce that Partners Aaron Atkinson and Douglas Griess have been recognized as 2024 Colorado Super Lawyers! Aaron was nominated in the category of General Litigation, and focuses his practice on Civil Litigation, Construction, Real Estate, Insurance Bad Faith and Claims, Business, Contracts, and Collections. Douglas was […]
With the clock ticking on 2023 business tax filings, here’s a quick look at some of the important considerations, credits and deductions for businesses to take advantage of from The Inflation Reduction Act. Passed in 2022, The Inflation Reduction Act is an attempt to slow inflation through a multi-pronged approach of reducing the federal government […]
When it comes to resolving disputes, there are several methods to try depending on the situation. Litigation, arbitration, and mediation are three of the main avenues for dispute resolution. Below, we explain each option, then discuss how to choose the right method. Litigation Litigation is the most formal process of resolving disputes, and the most […]
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