Estate & Gift Taxes

In Monument, CO, Mason Law And Planning Group, LLC provides expert guidance on Estate & Gift Taxes, particularly in the context of Colorado's unique tax landscape. Colorado presently lacks a separate estate tax, but it's essential to remain vigilant as estate tax laws are subject to change, and states retain the authority to introduce their own measures. Historically, Colorado had an inheritance tax, later replaced by an estate tax in 1980. The state's estate tax aligned with the federal "state death tax credit" until 2005, when federal changes eliminated this credit. This effectively concluded Colorado's estate tax for deaths occurring after December 31, 2004. However, for deaths before this date, Form DR 1210 must be filed, and detailed instructions can be found on the Colorado Department of Revenue website.

Given the potential for evolving tax laws, it is imperative to seek counsel from qualified estate planning and gift tax attorneys in Monument. Mason Law And Planning Group ensures you receive the most current and relevant information on estate taxes in Colorado, offering personalized insights into how these considerations may impact your estate planning.