It’s never too early to start planning your estate.
If this isn’t something that you or your family has experience in, the first thing you should know is that you’ll want to work with a reputable Colorado estate planning lawyer who has a deep understanding of how to advise their clients about getting their affairs in order.
Remember, estate planning isn’t just about outlining your wishes for how you’d like to have your estate divided upon your death. It’s also about planning for how you’d like to have your affairs managed should you become incapacitated.
What an estate planning attorney does
Estate planning is about more than planning a will.
A reputable estate planning lawyer will be able to help you understand the pros and cons associated with establishing different types of trusts. A reputable firm can also help you develop a plan that may help minimize estate taxes. You’ve worked hard, all of your life, to amass savings. With the proper planning, your savings can be protected from the creditors of your beneficiaries upon your death.
An estate planning lawyer can also help you set up a medical power of attorney along with a health care directive. This is important in the event that you become injured or ill, to the extent that you are no longer able to make these decisions on your own.
Things you should look for in an attorney
First and foremost, you should feel comfortable with the person you’re talking to. You’ll need to be able to speak freely about intimate details of your life, along with the concerns you have as they relate to your estate. Full, honest communication is needed in order to ensure you estate plan meets both your expectations and needs.
Second, the attorney should be up-to-date with the laws in your state. If laws or regulations have changed and your attorney isn’t up to speed, you run the risk of having your plan invalidated by the court.
Lastly, you’ll want to find an attorney who has dedicated their practice to this type of law. Yes, a general practitioner may be able to help you with somethings, but an experienced estate planning lawyer will have specialized knowledge in this field. That added knowledge will be invaluable when it comes to assisting you with your unique situation.
We understand that the idea of planning an estate can be stressful, but it doesn’t have to be. The Law Network PC has years of experience in helping clients in Northern Colorado with all types of estate planning needs. Regardless as to whether you have questions about wills or living trusts, or you’d like more information about the pros and cons of a revocable living trust, we’ll be happy to answer your questions and address your concerns.