Estate Planning

After 10 years of experience as a lawyer, I founded YouLaw Colorado, LLC, in Denver to offer my clients innovative and creative legal solutions for estate planning and family law matters. I am attorney Zachary Roeling and I believe that comprehensive and customized estate plans should be available for everyone, not just the wealthy. You know what you want and need when it comes to protecting your assets for the future, I can help craft the legal documents necessary to make it happen.

I understand that protecting assets for the future is a top priority for many individuals and families, and that is where I come in. I am committed to working with my clients to craft the legal documents necessary to make their estate planning goals a reality. I take a personalized approach to every case because I know that no two situations are alike. I work closely with my clients to understand their unique circumstances, develop a plan that meets their specific needs, and provide the peace of mind that comes with knowing their legal affairs are in order and their loved ones are protected.

Contact YouLaw Colorado at (720) 815-4421 for a free case review with an estate planning lawyer who knows how to help.

Estate Plans: Wills, Trusts, and Advance Directives

The purpose of an estate plan is to evaluate your needs, wishes and wants in the event of an illness, injury, or incident that leaves you unable to make choices for yourself or in the event of your death. Planning ahead for these sorts of things can provide you and your family with peace of mind before any of those events are even a possibility. The estate planning tools that can help include:

Will

A will is a document that provides direction for how your assets, property, money, and wealth should be distributed upon your death.

Trust

A trust is an estate planning tool that gives someone the power to control your assets and wealth. It is an efficient way to transfer your money and property to your loved ones but can have significant tax advantages and help your loved ones avoid steep inheritance taxes.

Power of Attorney

In the event you are not able to make your own decisions, a power of attorney allows someone else to make financial, property or medical decisions on your behalf. A power of attorney is specific and its terms can be customized to meet your specific needs and address any of your concerns.

Living Will or Advanced Medical Directive

A living will is an advanced medical directive that states your wishes in the event you are unable to make decisions regarding your own medical care.

By using various estate planning tools to customize solutions for your personal legal goals, I can help you craft exactly what you need to ensure that your wishes will be carried out and secure your assets for your family if something unexpected should happen.

How Our Attorney Can Help Plan Your Estate in Denver

Drafting a Will

Estate planning attorneys provide a range of valuable services to clients, one of which is the drafting of a will. A will is a legally binding document that outlines your wishes for how your assets should be distributed after your death.

Our attorney can help ensure that your will complies with all relevant Colorado laws, accurately reflects your specific wishes, and is structured to minimize the potential for disputes or conflicts among your beneficiaries.

Creating a Trust

Another area where our skilled attorney can be especially helpful is in setting up a trust. A trust is a legal arrangement in which a trustee holds and manages assets on behalf of a beneficiary.

There are several benefits to using a trust in estate planning, including protecting your assets, avoiding the probate process, maintaining privacy for your beneficiaries, and providing for your loved ones. A lawyer can help you determine the best type of trust for your specific needs and draft all of the necessary legal documents so that the trust is set up correctly.

Designating Power of Attorney

In addition to drafting wills and trusts, our law firm can also assist clients in designating a power of attorney. This legal document grants another person the authority to make important decisions on your behalf, such as managing your finances, investments, and taxes on property you own.

Appointing a power of attorney is an important decision, and our attorney can provide valuable guidance throughout the process. They can help you understand the various responsibilities and implications of giving someone else such authority.

Drafting a Living Will or Advanced Medical Directive

When a person is unable to speak for themselves because of a medical condition or accident, a living will or advanced medical directive can be immensely helpful in stating their wishes to their loved ones. This document typically outlines the individual’s preferences regarding medical treatment and end-of-life care in the event they are incapacitated, making sure that their wishes are respected. Our attorney can assist you in drafting a living will that clearly expresses your healthcare preferences and is in compliance with state regulations.

Advice on Tax Strategies

Organizing and filing taxes is another important part of effective estate planning. Our attorney can also provide advice on tax strategies to help clients minimize their tax liability and ensure that their assets are distributed in the most tax-efficient manner possible. This might involve advising on gift taxes, estate taxes, or generation-skipping transfer taxes. Our attorney can recommend strategies to limit these potential tax burdens and preserve more of your estate for your beneficiaries.

Understanding the Probate Process in Denver

Probate is the legal process used to transfer the title of assets from the decedent (the individual who has passed away) to their devisees (recipients named in the will). It also involves paying off any remaining estate debts and taxes. If there is no will, the estate is distributed according to Colorado’s intestacy laws.

In Denver, the probate court has exclusive jurisdiction over all matters of probate, settlements of estates of deceased persons, and the appointment of guardians and conservators. The full probate process begins with the identification of the devisees listed in the will or heirs under the applicable state law. Once the beneficiaries are identified, the estate’s debts are paid off, and the remaining assets are distributed as per the will’s instructions or state law.

In cases of small estates with no real property, the probate procedure involves completing a small estate affidavit and filing it with the probate court. The small estate affidavit is a streamlined version of probate designed to make the process simpler for estates below $82,000 in personal property.

However, the formal probate process is initiated if there is an objection or other probate litigation takes place. This often involves more complex legal proceedings and typically requires the assistance of an experienced attorney to navigate.

Estate Planning as a Denver Business Owner

Business estate planning is a proactive process that prepares a business for events both expected and unexpected. By considering the potential risks many businesses face, owners can ensure the continuity and success of their businesses, no matter what challenges they might face. The following are some of the ways estate planning can help protect your business in Denver:

Succession Planning

Succession planning is the process of identifying and developing potential successors for key leadership roles within your business. This ensures that your business can continue to operate smoothly after you retire or in the event of your sudden death.

A well-planned succession strategy involves identifying potential successors, providing them with appropriate training and development, and gradually transitioning responsibilities. This is the best way to prepare for the future and the legacy you have built with your business.

Setting Up Buy-Sell Agreements

Buy-sell agreements are legally binding contracts that outline what happens to a business owner’s share of the company if they leave the business for any reason, including retirement, disability, or death. These agreements can ensure that the remaining partners have control over who can buy into the business and at what price. They also provide a clear exit strategy for business owners, offering peace of mind that their interest in the business will be fairly compensated.

Tax Planning for Business Owners

Businesses are often subject to several estate taxes that individuals are not. By understanding and strategically planning for these various taxes, such as income tax, capital gains tax, and estate tax, you can minimize your tax liability and maximize the value of your estate. Our attorney can offer guidance on tax-efficient strategies for transferring business ownership, gifting shares, and other aspects of estate planning that help keep what you have earned.

Planning for Unexpected Events and Interruptions in Leadership

Estate planning can also help in the event of unforeseen circumstances. These circumstances can include events like natural disasters, economic downturns, sudden market shifts, or unexpected departures of key personnel.

To ensure your business is prepared to face such situations, you will want to develop a comprehensive estate plan that includes a wide range of measures. These measures typically include setting up contingency plans, creating emergency funds, establishing business continuity plans, and identifying potential successors for key personnel to ensure the smooth functioning of the business.

Offering Services to Meet Your Specific Needs in Denver

I believe that you should only pay for the services you need. I offer a variety of services with different pricing options so that my clients are not paying for services they do not need. I also customize all of my legal services to meet my clients’ legal goals.

Schedule a Consultation Today

I know that it can be difficult for my clients to even know what they need or want when it comes to an estate plan. Schedule an initial consultation appointment so I can answer any questions and help you better understand the different estate planning options and price points that are available. Call me today at (720) 815-4421 or send an email through my website to schedule your consultation today.