Imagine working your entire life to amass a sizeable amount of personal property and money – only to see all of your possessions:
- Fought over by your loved ones
- Held up in a lengthy court process as legal fees chip away at the value
- Divvied up among distant relatives you’ve never met
If you don’t create a will or trust, these are scenarios that could actually happen – even if you aren’t a multi-millionaire!
Passing away without a will or trust is called dying intestate. That means the courts decide who will receive your estate after you pass away pursuant to the laws of intestacy– regardless of how large or small your estate is. This process can stir up trouble if family members or creditors come out of the woodwork to challenge how the estate is divided, demanding a larger portion of the pie.
While it isn’t legally required to have a lawyer draw up your will or trust, hiring an estate planning attorney will help you take a more thorough approach to providing for your loved ones. An estate planning attorney can help you draft the right documents to explain how/where/when your important items should be distributed after you pass away. However, it’s really important to create more than just a will. There are many other types of legal documents that can protect your family from such situations as:
- Making difficult end-of-life decisions on your behalf
- Handling your finances if you are unable to do so
- Ensuring your medical needs/wishes are met if you are unable to do so
- Protecting your business ventures
A Denver estate planning attorney can provide advice on different types of estate planning documents. For example, they may advise you to create a trust instead of a will to keep your estate out of probate, out of public record and eliminate estate taxes. Depending on how vast your fortune is, there are countless other ways to protect what is yours from being over taxed and therefore diminish what your loved ones actually receive when you pass.
The team at Brown & Crona, LLC is ready to meet with you, discuss your goals and wishes and help you draft the right documents for your unique situation. Estate planning in Denver has never been easier or more comprehensive as when you choose Brown & Crona, LLC. Contact us today at (303) 339-3750 or send us a message online to start the conversation about your estate and the best ways to protect it.