Americans are now more concerned than ever about protecting their assets from creditor claims, taxes, divorce and other disasters. Are you getting married and have children from a prior marriage or separate property assets you are bringing into the marriage? Do you have rental properties or employees?
Whether through illness, injury, or mental decline, anyone can require a guardian (also known as a conservator) to care for them if they become mentally or physically incapacitated. The best course of action is to use estate planning to name a guardian ahead of time, so your family won’t have to deal with a courtroom or lawyers during this difficult time.
Do you know what would happen legally to you, your loved ones, your money and everything else you care about if something unexpected happened to you? If you have an estate plan and it’s out of date, your assets could be lost to the State Department of Unclaimed Property, or to an unnecessary Court process.
During your life, you pay all kinds of taxes: income taxes, property taxes, sales taxes, and so on. And at the end, the government even wants to tax you on the assets you have left at your death. Families with high-value estates face several complex legal and tax issues—and the estate tax is only one of them. At Colorado Wills and Estates, we offer a number of advanced estate planning strategies that are primarily aimed at reducing a family’s tax burden.
69% of parents have not named legal guardians for their children. Of the 31% who have, most have made one of 6 common mistakes when naming a legal guardian. Consider taking the very first step that every parent must have in place (no matter whether you have $1 or $10 million), and name legal guardians for your children for the long-term.
Having a will alone simply does not ensure the care of your kids If the unthinkable happens to you! Your estate plan must begin with ensuring your children would always be taken care of by the people you want, in the way you want, no matter what happens. At Colorado Wills and Estates, one of our areas of greatest expertise is in planning for the well-being and care of the children you love.
Keep your child’s future in your hands.
Having a will or naming godparents is simply not enough to keep the court system from making decisions about your children’s care in the event of your incapacity or death.
Don’t let a judge, who doesn’t know you or what matters to you, decide who raises your children or handles the money you’ll leave behind.
Probate in Colorado is a court-supervised procedure that helps to ensure the legal transfer of assets from the deceased to the rightful heirs or beneficiaries. It tends to be very expensive, it’s time-consuming, and it’s also a public process. The easiest way to avoid the probate process is to put a plan in place that protects you and your loved ones from court and from conflict.
An effective estate plan needs to be tailored to your needs. Estate planning for a family with special needs children comes with a complex set of financial, social, and medical issues that some lawyers are ill-equipped to handle. We offer a variety of estate planning tools and strategies designed to accommodate the unique circumstances presented by children with special needs and their families in Colorado.
Trust And Estate Administration
Whether your loved one created a trust to hold their assets, or did not, he or she did have assets (called the estate of the deceased) that must be handled with careful attention and it’s critical that you work with a Personal Family Lawyer® who can help you to do the right thing, minimize conflict and ensure the smoothest possible transition of assets.