Denver Estate Planning Attorneys
Planning for the future can be daunting. Many people realize they should consider their final arrangements, but put off the task because of emotional distress or because of the expense. At Coombe, Curry, Rich, Jarvis we strive to ease the financial stress of estate planning. We offer plans tailored to our clients’ individual needs and budgets, including initial consultations. We also provide in-home consultations and drafting services for clients who are incapacitated or unable to visit our offices.
What Is Included In Estate Planning?
Preparing for the future can be daunting. As human beings, we tend to put off planning for the unexpected because it feels overwhelming, unnecessary, and potentially expensive. However, when the unexpected occurs, we often regret not being better prepared. At Coombe, Curry, Rich, Jarvis, we provide affordable estate planning to a broad scope of people, including single and married individuals, young families, single parents, the LGBTQ community, families/individuals with disabilities and/or terminal illness, and individuals/families transitioning into retirement.
Coombe, Curry, Rich, Jarvis is able to offer comprehensive estate planning packages for middle class, middle income clientele who have modest estates that might not require complex tax analysis. Nevertheless, individuals and families fitting this description can still benefit from the peace of mind that comes with having their estates in order. Coombe, Curry, Rich, Jarvis’s affordable estate planning is tailored to your specific needs with the goal of protecting your interests and future.
Our packages include:
- Wills and codicils
- Trusts
- Powers of attorney (medical and financial)
- Advance directives (living wills)
- Burial directives
- Parental delegation of powers (guardianships)
To learn more about estate planning, or to begin your own estate planning process, contact our Denver estate planning group today.
Frequently Asked Questions About Estate Planning
The following questions and answers can help you learn more about creating a sound estate plan in Colorado.
What does a good estate plan include?
A strong estate plan outlines how your property should be managed if you become incapacitated or pass away. It usually includes a will directing the distribution of your assets and naming a personal representative. Many also include powers of attorney that authorize trusted individuals to handle financial or medical decisions upon incapacitation.
Adding advance directives helps document your medical preferences and reduces uncertainty for your family. Some individuals also include trusts to manage property, support beneficiaries or address tax considerations. Clear beneficiary designations on accounts and insurance policies also help ensure that assets transfer efficiently.
How much does estate planning cost?
The cost of estate planning varies because each person’s needs differ and the asset complexity can influence the amount of work required. Your goals, such as providing for a family member with special needs or planning for business succession, may also affect the scope and cost of the plan. The number of documents involved and the level of customization needed can further impact the cost.
An attorney can help ensure the costs remain reasonable by guiding you in choosing efficient estate planning documents.
What happens if you die without an estate plan in Colorado?
Colorado intestacy laws determine who will receive your property if you pass away without a valid estate plan. State statutes set a distribution order that may not match your preferences. A surviving spouse and children typically receive priority, but the exact shares depend on the family structure.
When no spouse or children exist, assets typically pass to other relatives in a specific sequence. The court also appoints a personal representative to manage your estate, which can feel confusing to your family.
How often should you update your estate plan?
Estate plans should be reviewed regularly, especially after major life changes occur. Events such as marriage, divorce or welcoming a child can alter your priorities. Significant financial changes, including the purchase of real estate or a business sale, may require updates as well. Relocating outside Colorado can also affect the validity or effectiveness of certain estate planning documents.
Regular reviews under a lawyer’s guidance help ensure that your plan continues to reflect your wishes and complies with current Colorado law.
Probate Services
Estate administration refers to the process of collecting and managing the assets of the deceased (also known as the “estate”), paying any debts and taxes owed by the estate, and distributing the remaining property to the heirs of the estate. This task must be completed through the probate process – whether the deceased had a will or not. Just the word “probate” is enough to scare most people. Luckily, Colorado has a relatively simple probate process. However, the simplicity of the probate process depends on several factors, including but not limited to the following:
- Locating all of the assets
- The type and amount of the assets that are included in the estate (real estate, total amount of money)
- The existence (or not) of a will
- The number of heirs/beneficiaries
- The relationship between the personal representative and the heirs/beneficiaries
Once these factors have been identified, the probate process can be commenced and a personal representative appointed (if there is not a will). However, you may require the assistance of an attorney to determine which form of probate is right for the estate. Most individuals do not understand just how daunting and time-consuming the task of administrating an estate can be until they have already started the process. In some cases, this can become a full-time job that consumes several months of time. In the face of this realization, individuals tend to put these tasks aside, prolonging and even mishandling the administration of the estate. Do not let the estate administration process intimidate you. We have the knowledge and the training to handle the probate and administration process simple – allowing you and your family the time to focus on grieving your loved one. Contact Jill Curry or Anne McMichael to schedule your, reduced-rate consultation.
