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3333
S. Bannock Street, Suite 900 Englewood, CO
80110 303-761-4900 |
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Estate
Planning & Probate
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Estate Planning
Although our lives are temporal,
we all want to leave some things
for those who live on after us.
One of the ways we do that is by
passing our assets, estates, and
wishes on to our loved ones or
charitable organizations through
wills, trusts, and direct
transfers.
Estate planning
is that part of the law that
establishes in our lifetime what
will happen to our assets upon
our death. It is the job
of the estate planning attorney
to listen to what his/her client
wants to do, and then advise
him/her regarding the best
way to reach their goals, taking
into consideration all
appropriate laws. |
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In doing so, the
following matters are discussed
and a plan developed. |
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Family
dynamics, including
incapacity, public benefits,
ages and health
considerations of children,
second marriages, and many
other considerations.
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Spousal and
dependent protection.
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Assets and
how they are titled.
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Non-Probate
Assets, i.e. beneficiary or
transfer on death (TOD)
designations, insurance
policies, annuities, bank
accounts, real property,
such as homes, which are
titled in joint tenancy,
etc. Although not a
part of a probate estate,
non-probate assets are
counted as part of a taxable
estate for the purpose of
determining federal estate
taxes.
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Estate, Gift
and Income Tax Planning
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Insurance,
including life insurance and
long term care insurance.
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A
typical
estate
plan
usually
includes
the
following
documents: |
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Will,
which
may or
may not
include
trusts. |
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Trusts,
which
vary
significantly
in
nature
and
purpose. |
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Medical
&
Financial
Powers
of
Attorney;
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Living
Will |
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| Probate Probate is the
court process by which a
decedent's will is administered.
In Colorado, every probate
estate valued at over $50,000,
or which has real estate of any
value, must be probated.
Estates less than $50,000 we
handle through a simple
affidavit.
Probate
proceedings
in
Colorado
are
simple
and
inexpensive.
Trusts
for
probate
avoidance
are
generally
only
needed
in
special
circumstances.
If an
individual dies without a will,
the probate estate would be
distributed in accordance with
the law called "intestacy" which
means "no will." It is an
urban legend that the state will
receive the estate if there is
no will. Nonetheless, you
do not have any control over how
your estate is to be handled if
you die without a will.
The State of
Colorado only
receives the
estate if NO
legal heirs are
found, and then
only after
holding it for
20 years, in the
event that heirs
appear to claim
the estate.
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*All
consultations are confidential.
Payment plans and credit cards are accepted. |
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