Denver Estate Planning
Estate planning plays an important role in protecting your assets and ensuring your family members are provided for.
Discussing end of life issues is something that most of us would rather avoid. While it is easy to put off estate planning tasks, doing so could jeopardize your life savings and the assets you intend to pass on to your beneficiaries. Particularly in cases of marital breakups and family disputes, it is important to have the proper documents in place. At Nicholas Family Law, our Denver estate planning attorneys can help you take the actions needed to protect yourself and those you love.
Planning for the Unexpected
You can never predict when the unexpected will occur. Under the Colorado Revised Statutes (Section 15-18.7-102), advance directives can provide guidance for your family in managing your affairs, while conveying your wishes regarding medical treatment if you are incapacitated or otherwise unable to communicate. At Nicholas Family Law, we can assist you in taking the first steps in building a solid and secure estate plan, by helping you to create the following documents:
- Durable Power of Attorney, which permits someone you trust to manage your financial and legal affairs if you are unable to on your own;
- Medical Power of Attorney, which designates someone to make medical decisions on your behalf;
- Living Will, which communicates your wishes regarding end of life care;
- Cardiopulmonary Resuscitation (CPR) Directives, which informs doctors and emergency medical providers of your wishes in the event you stop breathing or your heart stops beating.
Having these documents in place can help to eliminate the need for your loved ones to make difficult decisions on your behalf or to guess as to what you would have wanted in these situations.
Protecting Your Assets
Once you have the proper advance directives in place, our Denver estate planning attorneys can help you look at other important documents and actions that you need to take to protect your assets and the rights of your family members. This includes the following:
- Last Will and Testament: Your will outlines how you want property and assets distributed in the event of your passing. Without a legally valid will in place, your estate would be subject to potentially costly and lengthy Denver Probate Court proceedings and distributions that are not in accordance with your wishes.
- Living Trust: This can be an effective tool for passing along assets to family members and friends, and can also help to avoid depleting your life savings in the event you require nursing home care.
- Payable on Death Accounts: Along with designating life insurance beneficiaries, designating financial accounts as ‘payable on death’ can help to avoid probate.
In the event of a divorce or other important life changes, Nicholas Law can help to ensure these documents are properly updated to reflect the changes in your circumstances.
Reach Out to Our Denver Estate Planning Attorneys
To discuss the types of documents you need to protect your assets and the people you love or the changes you need to make in the event of a divorce, reach out and contact our Denver estate planning attorneys to request a consultation today.