Estate Planning Attorney Denver

Partner with us for the following:

• Creating and updating a last will and testament
• Establishing and managing all types of trusts, such as charitable trusts, special needs trusts, and revocable living trusts
• Tax planning to minimize estate taxes
• Creating advance directives for health care and financial power of attorney 
• Appointment of guardianship for minor children or other dependents 
• Planning for loved ones with special needs 
• Business succession planning
• Administering an estate after someone passes away
• Pursuing or defending against estate litigation 

What to Know About Wills

Wills are arguably the most well-known and conventional type of estate planning document. Once in place, a valid will allows you to leave instructions concerning how your assets should be distributed. Additionally, wills can specify funeral arrangements, make charitable donations, nominate an executor to manage the estate, and assign guardians for minors. Creating a will can prevent legal complications and help ensure that your specific wishes are honored after your passing, reducing the potential for disputes among beneficiaries. 

It is important to note that if you pass away without a will, state law will determine how to distribute your assets. Not only that, but the absence of a will could cause numerous disputes among your loved ones. Taking the initiative to draft a will ensures that your legacy is protected and can prevent the state from making decisions that may not align with your personal intentions. 

Who Should Have a Will? 

Everyone can benefit from having a will, regardless of the size of their estate. Having a will is especially important if you have minor children or dependents who rely on your financial support. Plus, if you have particular directions for how you want your estate handled, they should be documented in a valid will. Drafting a will is a strategic move for ensuring that your wishes are explicitly documented and reduces the stress on loved ones during an already challenging time.

Can You Alter a Will? 

Yes, it is possible to change your will at any time. However, they must be made in writing and follow specific legal requirements. For this reason, working with an estate planning attorney like ours is essential. Regular updates to your will can reflect life changes, such as marriages, divorces, the birth of children, or significant financial changes, ensuring that your will remains accurate and comprehensive.

Can You Contest a Will?

Yes, you can contest a will if you believe it was created fraudulently or under duress or undue influence. You may also raise concerns about the mental capacity of the person who created the will. Contesting a will is a legal process that requires substantial evidence and a clear understanding of probate litigation, so obtaining guidance from a knowledgeable probate lawyer Denver is crucial to navigate these complexities.  

The Personal Representative 

A personal representative is an individual who manages an estate after someone passes away. This person has numerous responsibilities, including collecting assets, paying debts and taxes, and distributing remaining assets to heirs according to the will or state law. You should choose a trustworthy and capable personal representative if you create a will. This role is pivotal, as the personal representative must handle intricate details of the estate and often act as a mediator among beneficiaries, ensuring that the decedent’s wishes are executed as intended. 

Have you been named as a personal representative? If so, you have been entrusted with a unique responsibility. Navigating the ensuing legal processes and fulfilling your duty can be complicated, especially as you grieve the loss of a loved one. Should you need assistance, do not hesitate to contact our office. We stand ready to help you navigate your role and avoid pitfalls that could cause strife and disputes. Our team provides comprehensive support to personal representatives, guiding them through the legal procedures, helping manage potential conflicts, and assisting with meticulous documentation to uphold the estate's integrity. 

Understanding Colorado Probate Laws with a Probate Attorney Denver

Probate in Colorado can be a complex journey guided by state-specific regulations. It's crucial for individuals handling an estate to understand the differences between informal and formal probate processes. Informal probate typically applies when there is a clear, uncontested will, offering a streamlined path that involves less court supervision. On the other hand, formal probate might be necessary if disputes arise or if the estate holds complex assets, requiring more court oversight.

Colorado law provides structured steps during probate, from validating the will with the court to appointing a personal representative who will oversee asset distribution. This role entails a responsibility to settle debts, manage taxes, and ultimately distribute assets. Probate laws are designed to ensure fairness and protect the rights of all parties involved, but they can sometimes overwhelm those unfamiliar with legal processes. Understanding these laws helps in navigating legal obligations efficiently, minimizing time and potential disagreements during asset transfer.

Why Choose a Local Estate Planning Lawyer Denver?

Choosing a local estate planning lawyer in Denver offers clients several unique advantages. Familiarity with regional laws and the nuances of local court systems can significantly impact the smooth execution of an estate plan. A local attorney is more attuned to the specific legal climate of Colorado, which can be pivotal in ensuring compliance with state-specific regulations.

Additionally, a local lawyer often contributes invaluable insights into community norms and expectations that might not be obvious to outsiders, and which can influence estate decisions. Beyond technical knowledge, they bring a network of local contacts and resources that can aid in various aspects of estate administration, from real estate valuations to specialized financial advice. This local connection fosters more personalized and frequent communication, enabling the development of a trusting professional relationship that enhances the overall planning experience for clients.

Call (719) 689-8767 or get in touch online to request a consultation.