Denver Attorney for Estate Planning and Wills

Creating a will is a vital step toward making sure your family and assets are protected according to your wishes upon your passing. It is never too early to make a will, but the process of writing up a will and planning how your estate will be handled can be quite complicated. Having a lawyer help you and advise you through this process is important.

Our lawyers can take a comprehensive inventory of your assets and create an effective will that carries out your wishes. In turn, we make sure that the terms of your will do what you want them to, giving the right assets and accounts to the right people or even keeping money in trust for your children so they do not have full access to the funds until they are adults.

Seek support from our Denver attorneys for estate planning and wills by calling YouLaw Colorado at (720) 815-4421.

Reasons Why You Would Want to Make a Will in Denver, CO

It is unfortunately common for people to never think about making a will until it is too late. However, there are multiple reasons to work with a lawyer and create a will as soon as possible.

Outline How Your Property Will Be Distributed

First, a will allows you to say how your estate will be distributed after your death. Simply put, creating a will ensures that your property is passed down to the specific people or organizations you care about. Without a will, your estate will be distributed according to intestate law, which may not line up with your wishes, especially if you want to include people outside your immediate family in the will.

Our Denver attorneys for estate planning and wills can help craft an effective will that provides you with peace of mind in knowing that your wishes will be honored.

Name a Personal Guardian for Minor Children

A will is an important tool in making sure that your children are taken care of by the people you want to care for them if you pass before they are grown up. As a parent, this can be one of the most important parts of your estate planning. By naming a guardian in your will, you can avoid potential conflicts and uncertainties about how will take on this crucial responsibility. You can ensure that your children are cared for by your sibling or even a close friend you specify rather than leaving that decision to the or the foster system.

Manage Property for Minor Children

Moreover, your will may also be useful in appointing a person you trust to manage the assets left to your minor children. This ensures that the assets intended for your children are handled responsibly.

Importantly, you can specify how and when the assets should be utilized. For example, you may mandate that certain funds and assets be used for education, health care, or other important needs. You can also put these assets into a trust fund to keep your child from having full access to the funds until they meet a requirement like turning 25 or graduating from college.

Name a Personal Representative

Creating a will also allows you to name a personal representative who will be responsible for carrying out the terms of your will. This person, also known as an “executor,” will manage your estate, pay any debts and taxes, and distribute your property as specified in your will.

Choosing a trustworthy and competent personal representative is essential for ensuring that your estate is handled properly. This can help avoid potential disputes and ensure a smooth process for your loved ones during the distribution of your estate.

Steps to Creating a Will in Denver, CO

Creating a will can be an intricate process that may vary depending on the specific circumstances of your case. Still, there is a general process that you will likely follow.

Deciding What Property to Include

First, you need to decide what property to include in your will. Our legal team can help you to take an inventory of all of your assets to make sure we account for any particular bequests and so that we know how much the so-called “remainder” or rest of your estate is worth. These assets may include real estate, personal belongings, financial accounts, and other valuable items. By creating this comprehensive list, you may ensure that no important assets are overlooked during the estate planning process.

Deciding Who Will Inherit Your Property

After identifying your property, you must decide who will inherit it. During this process, you may consider family members, friends, and any organizations you may wish to support. It is important that you specify who gets what very clearly. That way, you may avoid potential disputes among your heirs.

Naming Other Essential Parties

The next step will involve naming other essential parties, such as the executor, a guardian for your minor children, and someone to manage assets for your kids.

Making Your Will

Once you have made these important decisions, it is time to draft your will. Our lawyers have a wealth of estate-planning experience. We can help draft a clear and comprehensive will that addresses all of your wishes accurately.

Colo. Rev. Stat. § 15-11-502(1)(c) sets forth specific rules regarding the proper execution of your will. As the testator, your first option is to sign your will in front of two witnesses who are not beneficiaries. The witnesses must also sign the will, confirming that they observed you signing it voluntarily and without any coercion. Alternatively, you may also have your will verified by a notary public or another individual authorized to make such a verification.

Storing Your Will Safely

Finally, you must store your will in a place that is safe and accessible. Consider storing it in a place like a safety deposit box or a fireproof safe. It may benefit you to inform your executor and a few trusted individuals about its location.

Moreover, our attorneys can store your will for you so that you can have confidence that your documents are safe and confidential.

What Happens if You Die Without a Will in Denver, CO?

As mentioned, if you pass away without a will in Colorado, then your property will be allocated according to the state’s intestacy laws.

Intestacy laws prioritize distributing your assets to your closest relatives, starting with your spouse and children. Without a spouse or children, your property will go to your grandchildren or parents. The succession continues to more distant relatives, including grandparents, siblings, uncles, aunts, nieces, nephews, and cousins. If no living relatives can be found, your property will ultimately be claimed by the state.

Contact Our Attorneys for Help with Your Estate Plan in Denver, CO

Seek guidance from our Denver attorneys for estate planning and wills by calling YouLaw Colorado at (720) 815-4421.