Estate Planning Attorney in Centennial, CO
Estate Planning Lawyers in Centennial, CO
If you have properties and assets that you intend to leave to family members and loved ones, you would need an estate planning attorney.
An estate planning attorney can help you develop plans that provide instructions that allow you to maintain control over the administration of your estate, money, personal health, and medical treatment in the event of incapacity.
Additionally, estate planning includes legal documents that define your preferences regarding your estate and map out a plan for unforeseen events.
Duncan Legal has been serving Centennial, CO, families for years. Their attorneys can listen to your concerns and help you decide the best course of action.
Probate And Estate Administration
Estate Planning and Probate and Trust Administration Matters
Everyone should have a will, whether you have a lot of assets or not. Wills are not just for the wealthy. Estate plans help your loved ones know what you would like done if something unexpected happens and you are not able to care for yourself or verbalize your wishes.
We can assist you with:
Special needs trusts
Power of attorney (both medical and financial designations)
- What's the Difference Between Estate Planning and Probate Services?
- What Are the Elements of a Complete Estate Plan
- Do You Need to Hire a Lawyer for Estate Planning?
- How an Estate Planning Attorney Can Help You
- Costs Associated with Estate Planning in Centennial, Colorado
What’s the Difference Between Estate Planning and Probate Services?
Probate and estate planning are typically confused since they are used in similar circumstances. However, regarding timing and procedure, “probate” and “estate planning” differ significantly.
Estate planning is creating a financial plan that will serve as a will-like document and manage your estate after your death or incapacity. However, probate is the legal process of validating and enforcing a trust or will, usually in probate court.
There are three fundamental sorts of estate law attorneys:
- Probate attorneys
- Estate attorneys
- Probate litigation attorneys
While they all practice in the same field of law, estate planning lawyers assist clients in creating wills, trusts, and other estate planning instruments before death.
Probate lawyers, however, manage the probate court proceedings after a person dies. Similarly, a probate litigation attorney helps their client manage court issues arising from the formation of estate plans and the plan’s administration.
What Are the Elements of a Complete Estate Plan
If you hire an experienced estate planning attorney, you won’t have to worry about the details of your estate plan. In most cases, your estate planning attorney will advise you on what elements you need in your estate plan.
Your estate planning needs the following documents and paperwork to be considered a strong estate plan:
Estate plans often include a final will specifying how your assets and property will be allocated. The will should also include names of trustworthy guardians for your young children and someone to administer their assets.
Establishing a trust can protect your assets legally and ensure they are allocated according to your preferences. Trusts help you save time, decrease paperwork, and cut inheritance or estate taxes in some cases.
Powers of Attorney
A power of attorney is a legal document or instrument that permits or appoints an individual to act and manage your affairs lawfully after a demise or in a case of incapacitation.
Advanced Healthcare Directives
These indicate the medical treatment you want or do not want to get if you cannot communicate. In end-of-life situations, you can express in your directives for elder care whether you want medical procedures to prolong your life.
Do You Need to Hire a Lawyer for Estate Planning?
Estate planning laws can be complicated as individuals typically face legal challenges. As a result, it may be beneficial to seek the assistance of an estate planning law firm, particularly if you own significant assets and want to plan for your family’s future.
An estate lawyer can guide you toward suitable options to minimize your estate taxes, provide the most for your future beneficiaries, and give you peace of mind. They can also help you provide the most for those who will benefit from your estate.
How an Estate Planning Attorney Can Help You
Estate planning is a broad legal practice area. As a result, it might be difficult to mention all the areas where an estate planning attorney can help. However, the following are some instances in which you may find the services of an experienced estate planning attorney useful.
Estate Tax Planning
An estate attorney may assist you in transferring assets without incurring tax liability or avoiding a higher tax rate. Because estate rules can change swiftly, an experienced estate planning lawyer in this subject may keep abreast of the most recent financial news and be familiar with all relevant economic tools.
Estates in Centennial, Colorado, typically follow the federal estate tax that ranges from 18% to 40%. However, this tax only applies to estates worth more than $11.7 million. Centennial attorneys can assist you in navigating estate tax forms and helping you choose the right option.
Last Will and Testament Documentation
Centennial, CO lawyers experienced in estate planning comprehensively understand wills and their legal stipulations. As a result, they can help you ensure that these documents are correctly created, signed, and executed.
Additionally, your estate planning lawyer can counsel you on what your will can and cannot do and the possibilities these instruments provide.
Postmortem Debt Management
Numerous individuals are concerned about postmortem debts and creditors attempting to file claims against an estate. A professional estate attorney can build effective legal protections against aggressive and greedy debt collectors.
Healthcare Directives and Powers of Attorney
Hiring an estate attorney experienced in elder law can ensure that your elder care objectives and medical directives are explicit and incontestable. Including an attorney in creating healthcare directives and delegating power of attorney is advantageous.
As a result, your family can prevent or mitigate the tension and uncertainty that typically arise after an accident.
An estate attorney can assist your family in avoiding many of the logistical and legal issues that will arise after your death. Having a lawyer for your estate can reduce arguments, difficulties, and time spent on probate and other matters after your passing.
Costs Associated with Estate Planning in Centennial, Colorado
The cost of estate planning in Centennial, Colorado, might vary widely depending on the specifics of your case.
Centennial estate planning lawyers typically offer document preparation services, such as wills and powers of attorney, for a flat fee. However, they may charge hourly rates when they provide other legal services.
Other relevant factors that might influence the total cost of legal representation include the following:
The kind of estate plan
The value of your assets
The legal experience of your attorney
Arranging a consultation with the attorney could assist you in selecting an appropriate law firm that focuses on estate planning and related practice areas.
Contact Duncan Legal for All Your Estate Planning Needs
Estate planning attorneys at Duncan Legal can create a will, trust, or comprehensive estate plan that meets your specific circumstances, goals, and aspirations.
Whether in Castle Rock, Highlands Ranch, or Denver, CO, you can contact our law office now to arrange your consultation.
Appointments That Fit Your Schedule
I have weekday office hours and offer flexible appointments on evenings and weekends. Call me at (303) 394-2358 to make your appointment, or you may email me with questions. Duncan Legal is conveniently located close to the Arapahoe County Courthouse in Centennial, Colorado.