Protecting Your Assets
Creating a will or establishing a trust lets you specify how your property and assets should be distributed to your loved ones when you’re gone. It’s the best way to ensure that they get what you would like them to have, without any bickering or unnecessary tension between people you love and respect. By outlining your wishes and by anticipating issues in advance, you can make things easier on everyone in the future.
It is often difficult for us to consider our own mortality. While we might feel as though estate planning is an exercise that can come later in life, it is better to tackle the issue sooner rather than later. By doing so, you can help make sure that your loved ones are provided for and that there will be as few disagreements as possible when the time comes to distribute your property.
Attorney Keenan Copple helps individuals and families in Colorado with these sensitive and vital legal matters. For compassionate, knowledgeable assistance establishing a will or setting up a trust, contact The Law Office of Keenan Copple at (303) 819-6415 or reach out online to schedule a confidential consultation today.
What Happens if I Don’t Have an Estate Plan?
When a person dies in Colorado without a will or trust, their property and assets are passed on to others in the manner set forth by statute. This is known as having died “intestate.” Like many other areas of the law, these statues are geared toward traditional hetero-normative families. Particularly if you are divorced, have a blended family, or are in a committed relationship with someone you are not legally married to, the intestate laws can cause your property to pass to individuals who may not be those closest to you.
In addition to creating unintended consequences, administering an intestate estate can be complex and expensive, often requiring significant involvement of the courts. Sometimes this complexity and expense comes from the disagreements that can crop up among your loved ones when you have not made your wishes known prior to your passing.
To ensure that your property is distributed in the way that you would like it to be, consider establishing an estate plan. Ms. Copple is adept at creatively crafting estate plans to serve all Colorado families.
How Do Wills and Trusts Work?
A will is the most common estate-planning document and is usually the core component of any estate plan. A will essentially provides instructions as to how you would like your assets to be distributed when you pass away. You may also provide instructions for your funeral, burial or cremation, and specify how you would like other affairs resolved.
A trust is another common estate planning tool. A trust is a separate legal entity where a person (called the “grantor”) places assets under the administration of a trustee. The trustee manages and distributes those assets, as directed by the trust document and/or in the trustee’s judgment, to beneficiaries, who are persons or entities that receive the benefits of the assets. There are many different kinds of trusts, and Ms. Copple can take the time to help you determine if a trust is appropriate for your situation.
Wills and trusts are the foundation of any individual’s estate plan. A properly crafted will or trust makes wrapping-up one’s affairs after their passing a much simpler process. Having an estate plan is the best way to avoid headaches for your loved ones, reduce the complexity and expense of closing your estate, and reduce friction and disagreements among those you leave behind.
How We Can Help You
If you are considering establishing an estate plan, it is important that you speak with an experienced estate planning attorney. There is a lot of misinformation out there regarding estate taxes, intestacy, probate avoidance, and other matters. Sometimes when people go the DIY route for their estate plan, they can do more harm than good. Your attorney will ensure that wills and trust documents are appropriately drafted and executed so as to avoid conflicts in the future when it comes time to enforce your estate planning documents.
Schedule a Consultation to Discuss a Will or Trust Matter
Every person should have an estate plan that lets their family and loved ones know how their estate and affairs should be handled when they’re gone. Wills and trusts are the core components of any comprehensive and effective estate plan.
No matter what stage you are in life, it’s wise to consider what you’d like to leave behind for those you love. If you live in Denver and want to get started on crafting a will or creating a trust, be sure to reach out to The Law Office of Keenan Copple P.C.
Call us at (303) 819-6415 or reach out to us online to schedule your consultation with us as soon as you can.