Secure Your Family’s Future with a Thoughtfully Crafted Will
A Will is an estate planning tool used to ensure that your loved ones are cared for and your wishes are honored.
Wills
A Will is a legal document that provides instructions for the distribution of your assets after death. It is important to note that wills do not avoid probate. However, they hold significant legal authority upon the death of the will creator.
While everyone can benefit from having a Will, it is especially essential for parents with minor children. By appointing a guardian in your Will, you can ensure that your children will be cared for by someone you trust in the event of an untimely passing. Additionally, Wills can contain special trust provisions, allowing the person in charge of your estate (Personal Representative) to establish a trust upon death for the management and distribution of assets to your minor children.
Why Have a Will?
- Protect your minor children by ensuring they are placed with a person you trust in the event of serious illness or an untimely passing
- Select a trusted individual to administer your estate
- Ensure your pets are protected
- Achieve peace of mind knowing your wishes are known and ensure they are followed
- Reduce family disputes and uncertainty in the administration process
Tailoring Your Will to Your Unique Circumstances
Have you considered what will happen to your minor children, pets, and assets when you’re gone? Estate planning is a vital part of caring for your loved ones and gives you the peace of mind that your assets will be distributed according to your wishes. A Will can be an effective estate planning tool that ensures your loved ones are cared for, and your wishes are honored. At Premier Legacy Law, we understand the importance of creating a comprehensive estate plan that includes a powerful tool: your Will.
Our team is dedicated to helping you craft a Will that encompasses your unique needs, goals, and wishes. We take the time to understand your specific situation, providing you with tailored solutions that align your wishes with the law to protect your loved ones.
At Premier Legacy Law, We Put Your Interests First
When you entrust your estate planning needs to Premier Legacy Law, you gain access to a compassionate and knowledgeable team dedicated to helping you preserve your legacy and safeguard your family’s future. Our commitment to you extends beyond preparing your estate planning documents; we strive to establish a long-lasting relationship where you can reach out to us if you have questions or need to update your documents after major life events.
Take control of your future and protect your loved ones with a thoughtfully crafted Will. Contact us today to schedule a complimentary planning meeting and embark on a journey toward protecting your legacy. We offer in-person, phone, and virtual appointments as well as weekend appointments to fit your busy schedule.
Estate Planning FAQs
What is estate planning?
Estate planning involves creating a comprehensive legal plan to manage and distribute your assets according to your wishes during your lifetime, in case of incapacity, and after death. An estate plan also includes healthcare directives and legally enforceable instructions intended to be honored by family, friends, and third parties alike. This is one of the best gifts you can leave your family.
Why is estate planning important?
Estate planning is important because it allows you to maintain control over your assets, minimize taxes, protect your loved ones, and ensure your healthcare preferences are followed. A good estate plan preserves your legacy, reduces the strain on your loved ones tasked with administering your estate, minimizes the time and cost associated with settling an estate, minimizes conflict between family members, reduces the tax burden on your estate, and creates an effective mechanism for trusted individuals to act on your behalf in case of serious illness or death.
What are the benefits of working with an experienced estate planning attorney?
Estate planning attorneys have the knowledge and experience to create customized plans based on your unique needs, circumstances, and wishes. They can provide guidance, ensure legal compliance, and help minimize potential pitfalls or challenges.
What documents are included in an estate plan?
A comprehensive estate plan in Colorado typically includes a Will (Last Will and Testament), Trust (if applicable), General Durable Power of Attorney, Healthcare Power of Attorney, Advance Healthcare Directive (Living Will), Health Insurance Portability and Accountability Act (HIPAA) Waiver, and Declaration of Disposition of Last Remains.
Do I need an estate plan if I don’t have a lot of property?
Yes, everyone can benefit from good estate planning as it ensures your wishes are followed, you are protected by trusted agents during incapacity, guardianship for minor children is established, and healthcare decisions are made according to your preferences.
What is a Will, and why do I need one?
A Will is a legal document that specifies how, and to whom, your assets should be distributed after death. It also allows you to name guardians for minor children and a personal representative to manage the estate. A carefully planned Will memorializes your wishes, making them legally enforceable in court, helps minimize court battles, and avoids the pitfalls of the default and rigid rules provided by the government to those who pass away without leaving a valid Will.
Can I name a guardian for my minor children in my estate plan?
Yes, through your estate plan, you can designate a guardian for your minor children in case of incapacity or death. This ensures their care and well-being according to your preferences.
Can I change or revoke my estate plan?
Yes, an individual can change or revoke her or his estate plan at any time as long as she or he is mentally competent. Please consult with an attorney to ensure the changes are legally valid and avoid marking on your original estate planning documents.
What happens if I die without an estate plan?
If a Colorado resident dies without an estate plan, her or his assets will be distributed according to the default Colorado laws, which may not align with an individual’s wishes. This is a default for everyone who dies without a plan and it designates nearest family members to be in charge and inherit assets without considering your preferences. Probate court proceedings may also be required, causing delays and additional costs.
How does estate planning help minimize taxes?
Estate planning strategies, such as establishing trusts and lifetime gifting strategies, can help minimize estate taxes. Proper planning allows you to maximize the amount of wealth passed on to your beneficiaries.
How much does estate planning cost?
The cost of estate planning varies depending on factors such as the complexity of your estate and the types of documents in your plan. Because everyone’s individual circumstances differ, fees are discussed during the complimentary initial planning meeting.
Are there any specific estate planning considerations for blended families?
Blended families may have unique estate planning considerations, such as remarriage protection after the death of a spouse, providing for both biological and stepchildren, and ensuring fair distribution of assets. Estate planning can help navigate these complexities.
What is a revocable living trust, and when should I consider using one?
A revocable living trust is a legal entity that holds assets for the benefit of beneficiaries without limiting the control that the owner(s) have over these assets during their lifetime(s). Trusts are useful for various purposes, such as avoiding probate, keeping your plans private, protecting beneficiaries, and managing distributions over time.
What is a power of attorney, and why is it essential to include in an estate plan?
A power of attorney is a legal document that designates someone to act on your behalf. Usually, this document is used if you become incapacitated and cannot manage finances or make healthcare decisions. Typically, there is one power of attorney for assets/finances and a separate one for healthcare decision-making.
What is an advance healthcare directive, and why should I have one?
An advance healthcare directive (living will) outlines your healthcare preferences and wishes during end-of-life situations. It ensures your wishes regarding ongoing medical treatment and end-of-life care are respected.
What is the difference between a revocable trust and an irrevocable trust?
A revocable trust can be modified, amended, or revoked during the owner’s lifetime, providing ultimate flexibility and control to the owner to make any necessary changes in response to life’s evolving circumstances. An irrevocable trust cannot be changed or revoked after it is created. When used correctly, an irrevocable trust offers benefits such as asset protection and should only be used in specific circumstances. Always seek legal advice before establishing any trust.
How often should I update my estate plan?
It is generally recommended to review your estate plan every few years or after major life events, such as marriage, divorce, birth of children, loss of a loved one, or significant changes in financial circumstances. Updating your plan ensures it remains current and aligned with your wishes.
Can I include digital assets in my estate plan?
Yes, it’s important to address digital assets in your estate plan. This may include digital files, online accounts, social media profiles, cryptocurrency, and intellectual property. Clearly state your wishes regarding access, management, and distribution of digital assets.
Can an estate plan help with charitable giving?
Absolutely. Estate planning allows you to include charitable giving as part of your legacy. It can involve charitable trusts, donor-advised funds, or specific bequests to charitable organizations.
Experienced Denver Will Lawyer at Premier Legacy Law
Premier Legacy Law is your trusted partner for estate planning, probate, and trust administration in Denver, CO. Our experienced Denver wills attorney is committed to providing estate planning services tailored to meet the unique needs of each client. Whether you are looking to create a will, establish a revocable trust, or navigate the probate or trust administration process, we are here to guide you every step of the way.
Why Choose a Denver Will Lawyer?
Creating a will is a crucial step in ensuring that your wishes are carried out after your passing. A Denver estate planning attorney familiar with wills can help you draft a legally binding document that outlines how you want your estate to be distributed among your family members and loved ones. With a valid will in place, you can reduce family disputes and uncertainty in the administration process that can lead to delays and unnecessary expenses.
Estate Planning Services with You in Mind
At Premier Legacy Law, we understand that each client’s situation is unique. That’s why we offer a wide range of estate planning services to meet your specific needs. Whether you are a small business owner looking to preserve your legacy or a parent planning for your children’s future, our experienced Denver wills attorney can help you create a customized estate plan that reflects your goals and wishes.
Protect Your Family's Future
Planning for the future is one of the most important gifts you can leave for your family. By creating a thoughtful estate plan with the help of an experienced Denver will lawyer, you can ensure that your loved ones are provided for and that your final wishes are carried out according to your specifications. Don’t leave the fate of your estate to chance – contact Premier Legacy Law today to schedule a complimentary initial consultation with an experienced Denver wills attorney.
Contact Premier Legacy Law Today
Our experienced Denver wills attorney has the knowledge to assist you with your estate planning needs. Contact us today to schedule a complimentary consultation and take the first step toward protecting your family’s future.