Denver Estate Planning Attorneys: Preparing Your Will And Leaving Your Legacy
When contemplating an estate plan and drafting your will it can be overwhelming to know where to start. Serving clients throughout the metro area in Denver, our estate attorneys at Vincent & Romeo, LLC, offer a holistic approach to preparing wills, trusts and other estate planning documents.
The Purpose Of A Comprehensive Estate Plan
A comprehensive estate plan does more than just pave the way for a smooth transition of wealth to your heirs. It helps you avoid problems that delay your loved ones’ ability to receive the benefits and protections they deserve. Any time is a good time to develop an estate plan. However, it is especially important to develop an estate plan when your young family is growing and children are born. It is also important to create or revisit your estate plan well in advance of making the transition from the workforce to retirement.
Our Experienced Lawyers Plan For Your Future
To develop your estate plan, we draw on a wide variety of estate planning tools, including wills, trusts, different forms of property ownership and insurance, all hand-picked to suit your unique situation. Our experienced attorneys will:
- Prepare wills, trusts, advance medical directives and durable powers of attorney
- Clarify how you can be taken care of in the event of incapacity
- Prepare for the smooth transition of wealth after your death , minimize the impact of estate taxes and seek to protect your estate from creditors and the creditors of your children
- Ensure that the property you designate will go to the people you designate after your death
- Discuss how to protect inheritances in the event that your heirs get divorced
- Make provisions for the care of a special needs child so that any inheritance he or she receives will not cause disqualification from public benefits
- Manage a court-created special needs trust for a disabled loved one who has received an unprotected settlement
Every family’s situation and estate planning needs are unique. Our lawyers will evaluate your situation and help you identify your legal needs and goals.
Understanding Your Options For An Estate Plan: The Purpose Of Estate Planning Tools
Comprehensive estate planning means choosing the best estate planning tools and options that work best for you, your family, your benefits and assets. Our estate lawyers can help you with wills, trusts and medical directives.
What Is A Will?
A will is an estate planning tool that allows you to specifically direct how you would like your wealth and assets to be distributed after death. It can also name guardians for your minor children. A will names an executor, who is the representative responsible for making sure that the directives in your will are followed.
What Is A Trust?
A trust can be used in place of a will, to help transfer your assets. Trusts are often used because they do not require probate and may result in smoother transitions. They can also avoid probate in multiple states.
The Probate Process In Colorado
The probate court in Colorado oversees the distribution of a decedent’s assets to the heirs of the decedent’s estate. In the state of Colorado, there are three types of probate proceedings:
- Small estates for minimal assets that do not include real property
- Informal probate, where matters are not contested
- Formal probate, contested estates where the will is being challenged
The probate attorneys at Vincent & Romeo, LLC, can help you better understand the probate process in Colorado, and help represent you in probate court if necessary.