Estate Planning Lawyers in Denver, Colorado
While most people associate estate planning with particular paperwork created throughout the process, this is not the case (Wills, Trusts, Power of Attorney, etc.)
Estate planning is more than just filling out the appropriate paperwork. Every Estate Plan should be unique, crafted just for you. A well-drafted estate plan is the result of a thorough examination of your unique circumstances and objectives, the application of cutting-edge techniques and strategies drawn from a variety of legal fields such as tax, wills and trusts, probate, real estate, debtor/creditor, and so on, as well as thoughtful planning for future changes. It is wise to consult a reliable Denver estate planning attorney in such matters so that you can be sure that all legalities are covered.
- Why is Estate Planning Important in Colorado?
- How can an estate planning attorney help you?
- Why Choose A Debt-Free Colorado Attorney?
Let’s find out how you can fight alongside a Denver Estate Planning Lawyer for your entitled estate planning rights upon the death of a loved one.
Why is Estate Planning Important in Colorado?
There are plenty of people who are more than happy to answer these questions for you if you don’t do it yourself. Generally, the government will wind up making many of the decisions, in many cases after a long and expensive fight among your loved ones.
Aside from helping to avoid the family squabbling, stress, and confusion that can occur when you haven’t made your wishes clear and legally enforceable, a well-drafted Denver Estate Plan provides numerous benefits including:
- Increasing the benefit to your loved ones by helping to avoid or minimize taxes
- Allowing you to continue to exercise some control over how and when your wealth is used and distributed (for example, earmarking funds for college)
- Providing guidance to doctors and health care workers regarding the type of care you receive
- Protecting and preserving wealth from creditors, increasingly complex scams, catastrophic illness, and accidents, etc.
- Providing for the continuity of a family business.
- Increasing the likelihood of Medicaid and Veteran’s Benefits eligibility
Is your beneficiary list up to date?
New year’s resolutions and to-do lists are common. You may need a new Will, a Trust, or a Medical or General Durable Power of Attorney. Clients frequently overlook the importance of beneficiary designations in estate planning. Minor beneficiary designations may also cause issues. Leaving out a beneficiary can have significant tax implications. A comprehensive estate plan reviews bequests and beneficiary designations to meet client goals. Your life insurance, annuities, and retirement funds may need to be updated after your Will or Trust. Our estate planning attorneys will prepare thoroughly and cohesively. We welcome your questions about successful beneficiary designations or your estate plan.
Are you financially prepared for a disability or death that occurs unexpectedly?
Not typically discussed, but important to address before unanticipated occurrences arise. Our clients regularly (and tragically) find themselves cleaning up the finances of an unprepared loved one. When a loved one is ill, incapacitated, or deceased, the last thing a caregiver or executor wants to worry about is money. There is no greater use of time than to grieve, support, or celebrate life when prepared for the unexpected. The following are some tips to prepare for such an eventuality:
- Choose who to appoint in your financial and medical powers of attorney. These agents may act on your behalf if you are disabled or unable to manage your affairs. When the unexpected happens, these agents prevent the necessity for guardianships and conservatorships.
- Make a Will. Adults should all have wills. This is critical if you have small children who cannot legally inherit until they turn 21. And parents we serve frequently think 21 is too young to inherit large sums.
- Obtain life insurance. Good intentions won’t help your family if you abruptly abandon them. A surviving spouse’s income cannot be replaced, nor can financing for children’s care and education be provided.
- Organize emergency file information. Do you have a plan for your agent or personal representative if they need to act on your behalf? Professional connections like CPAs, insurance brokers, and lawyers may be included. It also offers a list of accounts and passwords for managing funds.
- Revise your will. Not just a will should be considered. A smart estate planning lawyer would look at your whole life to see whether everything fits together to achieve your lifetime and testamentary objectives.
We can assist with all of the above and we are dedicated to helping clients prepare and get peace of mind.
How can a Colorado estate planning attorney help you?
Whether your estate is huge or little, estate planning is essential. Our knowledgeable lawyers can assist you in planning for a seamless transfer of property and other assets while avoiding the tax implications.
Basic estate planning includes counseling clients on whether papers, including wills, trusts, powers of attorney, and advance health care directives, are suitable for them. When assisting couples, our Denver estate planning lawyers try to understand the family dynamics and find strategies to minimize beneficiary disputes.
Estate Planning Documents Carefully Prepared by a Licensed Colorado Attorney
- Financial Powers of Attorney
- Medical Powers of Attorney
- Advance Directives (Living Wills)
Our estate planning lawyers take the approach of addressing your issues in the most straightforward and suitable manner possible. We value long-term relationships with our customers and take great pleasure in guiding them through life’s phases.
Get the right help for your estate planning process
Thinking about changing your own will? Don’t. If you previously had an estate planning attorney write your will or other estate planning papers, you should have them updated. Maybe it’s a little tweak. Some seek to save money. There are legitimate ways to change your will on your own. If the legal procedures are not followed precisely, you risk causing uncertainty among your beneficiaries, which may lead to litigation and extra expense.
A simple codicil (will modification) or having your will revised by an experienced estate planning lawyer may save you money in the long run. For many clients, avoiding family strife is more essential than saving money. Families are weak following a loss, and inheritance issues may cause conflict. Estate planners help clients avoid burdening their heirs. Litigation over a will is a great weight to bear at a terrible time and is frequently costly.
Call our reliable Denver estate planning lawyers to prevent the needless expenditure of estate litigation. We can help you make clear and valid revisions to your will.
Why Choose A Dray Legal Attorney?
There are a number of tools and techniques that a competent Colorado estate planning attorney will use to help you make your wishes clear including wills, trusts, power of attorney, living wills, guardian appointments, and more. However, the specific documents used by your attorney are less important than making sure that your estate plan is designed to suit you and your goals.
In order to make sure your estate plan is a good fit for you and not a cookie-cutter package of forms with your name plugged in and which might not even be based on Colorado law, you’ll speak directly with Colorado estate planning attorney Clark Dray. We’ll have informal yet thorough conversations about your wishes and the best strategies for seeing them fulfilled. Once we’ve come up with a plan you’ll be given a fee schedule so there aren’t any unpleasant surprises, and we’ll start the process of working closely together to craft a well-drafted, legally enforceable estate plan which makes your wishes clear and provides for your loved ones.