Estate Planning & Probate

Probate is the legal process of administering a deceased person's estate. It involves validating the will, inventorying assets, paying debts, and distributing the remaining assets to beneficiaries. Handling probate incorrectly can be expensive and time-consuming to reverse, so hiring an experienced law firm is crucial.

If a person dies intestate (without a will), their estate is distributed according to Colorado state law. Our attorneys can guide you through this process to ensure it is done correctly.

Certain assets can be transferred outside of probate through mechanisms like joint ownership, payable-on-death accounts, and trusts. We can help you explore these options.

The duration of probate varies depending on the estate's complexity. It can take several months to over a year. Our experienced attorneys work to expedite the process as much as possible.

Probate costs can include court fees, attorney fees, and other administrative expenses. These costs vary based on the estate's size and complexity.

If there is a will contest or challenge, our experienced staff can represent you in court to resolve disputes and ensure the decedent's wishes are honored.

If there is no will, assets are distributed according to the state's intestacy laws, which typically prioritize spouses, children, and other close relatives.

Yes, small estates that meet certain qualifications can often avoid formal probate. We can help determine if your situation qualifies and manage the process.

Setting up a trust is an effective way to avoid probate, secure your wealth during your lifetime, and ensure you are taken care of if you become incapacitated. It also helps protect your assets for your heirs and can provide significant tax benefits.

There are several types of trusts, each designed for different purposes:

• Revocable Trusts: These can be modified or revoked by the grantor during their lifetime and help manage assets while avoiding probate.
• Revocable Living Trusts: Created during the grantor's lifetime, these help manage and protect assets, ensuring a smooth transition to beneficiaries without probate.
• Irrevocable Trusts: Once established, these cannot be altered. They offer greater asset protection and can help reduce estate taxes.
• Asset Protection Trusts (APT): Designed to protect assets from creditors and legal claims, including Alaska mega trusts which provide strong asset protection benefits.
• Joint or Family Trusts: Created by multiple individuals, typically spouses, to manage and protect family assets, simplifying the distribution process.
• Bypass or AB Trusts: Used by married couples to minimize estate taxes, allowing the surviving spouse to benefit from the assets while keeping them out of the taxable estate.
• Special Needs Trusts: Designed to provide for individuals with disabilities without affecting their eligibility for government benefits.
• Guardianships: Appoint a guardian to make decisions about the personal care and well-being of an incapacitated individual.
• Conservatorships: Appoint a conservator to manage the financial affairs and assets of an incapacitated individual.

An experienced estate planning attorney can help you navigate the complexities of creating a trust, ensuring that your estate plan meets your specific needs and complies with Colorado law. This can save you time, reduce stress, and prevent costly mistakes.

Yes, certain trusts, such as revocable living trusts, allow you to be the beneficiary during your lifetime, providing you with the ability to manage and use your assets while still ensuring they are protected and efficiently transferred to your heirs.

Special needs trusts are specifically designed to provide for individuals with disabilities without jeopardizing their eligibility for government benefits. Our attorneys can help you set up a special needs trust to ensure your family member is cared for.

A will is crucial for making your final wishes clear regarding the distribution of your property and assets, as well as instructions for your remains. It can save your family significant trouble and strife by providing clear directives and avoiding potential disputes.

While there are many options for creating a will, including online forms, these are often too general and may not meet your specific needs. Having a will drafted by an experienced attorney ensures it is comprehensive and tailored to your unique situation.

Our Grand Junction attorneys can draft a variety of wills and complementary documents, including:

• Simple and complex wills
• Living wills (medical directives)
• Medical powers of attorney (POA)
• Financial and durable powers of attorney
• IRS powers of attorney
• State of Colorado powers of attorney
• HIPAA releases

A simple will typically outlines basic instructions for distributing a modest estate, while a complex will addresses more intricate details, such as multiple beneficiaries, significant assets, and specific conditions for asset distribution.

A living will, also known as a medical directive, outlines your wishes regarding medical treatment and end-of-life care if you become incapacitated and unable to communicate your decisions.

Powers of attorney (POA) are legal documents that grant someone you trust the authority to make decisions on your behalf. These can include medical decisions (medical POA), financial decisions (financial POA), and durable POA, which remains in effect even if you become incapacitated.

Yes, we can review and update your existing will to ensure it reflects your current wishes and circumstances. It is important to keep your will up to date, especially after major life events such as marriage, divorce, or the birth of a child.