Denver Wills, Trusts & Estates Lawyers
Efficiently Handling Wills, Trusts, Probate & More Throughout Colorado
Contrary to popular belief, estate planning is for everyone—not just the elderly, terminally ill, and wealthy. Having an estate plan in place protects your assets and wealth by reducing fees and taxes as well as manages your estate, properly allocates it to your heirs, and sets up contingency plans to ensure your healthcare treatment instructions are followed should you be unable to confirm them yourself. With every estate plan comes numerous and complex paperwork and procedures—therefore, it is important to have an attorney experienced in estate planning matters represent you.
At Colorado Employee Advocates, our Denver wills, trusts, and estates attorneys have been providing proficient legal services to clients throughout Colorado for almost two decades. Over that period of time, we have developed a comprehensive understanding of estate planning law as well as its related procedures and paperwork. Regardless of your type of legal issue or its difficulty to handle, you can count on us to help you resolve it quickly and efficiently. We are well-known for our ability to get results, as we have helped countless clients with a wide variety of estate planning problems. We can help you, too.
How You Can Benefit from an Estate Plan
Regarding the financial benefits of having an estate plan in place, a solid estate plan manages and determines what happens to your business, investments, property, employee benefits, life insurance, and other assets in case you pass away or become incapacitated.
Regarding the personal benefits, a well-developed estate plan will lay out detailed instructions regarding your healthcare wishes should you ever become unable to state them yourself. This way, a pre-appointed and trusted individual will be able to handle your healthcare needs on your behalf, including crucial matters such as discontinuing life support.
Probate law covers the legal transfer of a person’s property upon that person’s death. Even though probate customs and laws have developed over the past several years, their intent has essentially stayed the same. People formally make their intentions regarding the transfer of their estate when they die known, upon which their property is collected, their debts are paid, and their property is then distributed.
Nowadays, the probate process is court-supervised, and it is designed to sort out your assets and wealth after your death. The property that is subject to probate includes property that does not pass onto other people by designation or ownership. Having a will be probated is when a person displays to the court that the person who passed away followed all the laws and guidelines when creating their will.
The process for probating an estate includes the following:
- Distributing or transferring the remaining property to the heirs
- Settling any disputes
- Collecting all rights to income, dividends, etc.
- Paying all debts, claims, and taxes owed by the estate
- Collecting all probate property of the decedent
Wills & Trusts
Wills and trusts are often used in estate planning to protect assets and ensure that the intended recipients are awarded the money or property you intend for them. At Colorado Employee Advocates, our Denver attorneys offer comprehensive estate planning services that include creating and updating trusts and wills. We can help you prepare a will, set up a trust, and make important decisions to protect your assets and reduce tax liability.
Creating a Will
A will is a legal document that spells out how you want your money, property, and possessions to be distributed after your death. Depending on the size of your estate and number of beneficiaries, wills can range from a simple, single page to a complex and lengthy document. We are prepared to offer advice and guidance to ensure that your will meets all legal requirements and accurately conveys your wishes.
Use of Trusts in Estate Planning
A revocable living trust offers advantages to you during life and your estate after your death. A revocable living trust is a legal agreement that describes how the assets in the trust will be invested, held, and distributed with instructions for during life and after death. The assets in the trust do not have to go through the probate process. You can change or amend your trust at any time during your life.
Some of the common trusts used in estate planning include:
- Trusts to reduce tax liability
- Asset protection trusts
- Special needs trusts
- Charitable trusts
During your consultation, we will listen to your situation and your goals and recommend the estate planning methods to help you achieve your objectives. We will work with you to write your will and set up any trusts that may be needed to protect your assets, reduce tax liability, and ensure that your beneficiaries receive what you intend for them.