Wills -

A document in which a person specifies the method to be applied in the management and distribution of his estate after his death.

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Probate -

A probate is the court process by which a will proved valid or invalid, and by which the property of the deceased person is divided among beneficiaries.

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Trusts -

A relationship created at the request of an individual, in which one or more persons hold the individual's property subject to certain duties to use for the benefit of others.

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Power of Attorney -

A power of attorney appoints an agent to act on behalf of someone else with legal authority over their financial affairs or medical discussions.

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Conservator -

A proctector appointed by a court to manage financial affairs due to physical or mental limitations.

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Guardianships -

A legal relationship created when a person or institution named in a will or assigned by the court to take care of minor children or incompetent adults.

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Business Entity Set-Up -

In order to carry on a trade or business, a type of business entity must be chosen.

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Estate Planning -

A well-drafted estate plan is your assurance that the taxes and costs associated with your death will be minimized.

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Power of Attorney

Much like a potter at a wheel, a trust maker (sometimes called grantor or settlor or trustor) can mold a vessel to carry its contents through theThe vessel created is called a trust instead of a pot. Its purpose and intended contents, like those of the pot, are determined by the maker.Its duration (thickness) can be established by the maker. Like a pot, a trust can be created to accomplish a temporary or long-term task.

The pot analogy aside, trusts are useful tools for customizing complex estate plans. If probate would take place in two or more states after your death because you owned property in two or more states, or if the estate would be subject to federal estate tax after your death, or if you have a desire for privacy in your final affairs, or another valid reason, a trust may be a good idea.

Each client's situation must be analyzed with care to determine what provisions should be included in a particular trust. Do you have a child with special needs? A potential heir or beneficiary with a spending problem or clouded judgment or manipulative spouse? Perhaps each party in your relationship came into it with substantial or unequal assets or liabilities, or with their own adult children?  These are all good reasons to consider a trust instead of a will as your primary method of passing on your assets.

One popular reason many clients anticipate the need for a trust is to avoid the probate process. In Colorado, probate does not carry the substantial costs and delays common in other states. Furthermore, trust administration can be expensive for the estate and risky for the trustee, so even though the fees involved in drafting trusts can be substantially greater than basic wills, our office recommends trusts only when other valid reasons for the usefulness of a trust exist for a particular client on a case-by-case basis.

We are not anti-trust or pro-probate; we are anti-waste and pro-client. Give us a call or drop us a note and we would be glad to evaluate your particular situation form the basic information your provide. Estate planning does not have to be expensive or time-consuming or mysterious, and we will make sure you understand what your plan is and why it makes sense for your situation.