Denver Estate Planning Lawyer
Few people relish thinking about their own mortality, so many put off making decisions about what they want to happen at the end of their lives until it is too late. Unfortunately, family members often end up guessing about the wishes of their relative if the deceased never created an estate plan.
A Denver estate planning lawyer could help you create documents like wills or trusts that distribute assets after death and pass the property on to heirs. Do not delay in making these crucial decisions—schedule an appointment with a proactive attorney today.
Process of Creating a Will
The task most commonly associated with estate planning attorneys is the creation of a person’s last will and testament. These documents, which take effect after a person passes away, distribute assets according to the deceased’s wishes. The document would also name a person or entity as the executor in charge of making sure the deceased’s wishes are fulfilled.
A will could also make certain bequests conditional based on specific actions. For example, a person may decide to leave a child money only if they graduate from college. However, a court would generally not enforce conditions that are illegal, immoral, or against public policy.
Revocable and Irrevocable Trusts
Estate planning lawyers frequently recommend that people in Denver create trusts that can avoid the probate process and pass property directly to their heirs. Multiple types of assets, including bank accounts, life insurance policies, stocks and bonds, real estate, and personal property, can all make up the body of the trust.
People who want to protect their assets using a trust have many options, and each offers different legal, tax, or investment benefits. A Denver estate planning attorney could recommend a type of trust based on each person’s needs and circumstances.
Probate Cases in Denver
When a person dies without a will, or when a deceased person’s heirs challenge a will, the decedent’s estate may need to go through the probate process. During a probate case, the beneficiaries of the estate would need to prove the authenticity of a will or any other estate planning documents.
The court would also name an executor of the estate who must locate the deceased’s assets, pay off any estate debts, and distribute the property in accordance with state law or the deceased’s wishes. The executor must also notify creditors and beneficiaries of the estate of the decedent’s passing and pay any final taxes owed.
Planning for Incapacity
Finally, estate planning attorneys could help individuals prepare for the inevitability of getting older and losing their health. For example, a lawyer may create a power of attorney form, which gives another person the ability to make decisions for someone who is incapacitated mentally or physically.
A Denver estate planning lawyer also frequently create living wills or advance healthcare directives, that guide a person’s medical care or treatment should they become unable to provide those directions themselves. For instance, many people toward the end of their lives direct their medical teams not to take any extraordinary measures to keep them alive.
Get Help from a Denver Estate Planning Attorney
Though planning for the end of your life may not be pleasant, it is a necessary task that can save your loved ones hours of grief and frustration. A knowledgeable Denver estate planning lawyer could help you decide how you want to be treated if you are incapacitated, how your property should pass to your heirs, and what you want to happen to your estate when you die. For help with addressing these topics, contact a seasoned attorney today to set up an initial meeting. The Amy G Injury Firm co-counsels estate planning matters.