Denver Estate Planning Attorneys

Trusts, Wills, Probate & Guardianships

Understanding Trusts with an Estate Planning Lawyer in Denver

In the context of estate planning, trusts are legal arrangements involving a grantor/settlor, a trustee, and beneficiaries. As the grantor/settlor, you will place assets like wealth and property into a trust structure that is managed by a chosen trustee (usually an attorney or a qualified loved one) until such time as it is passed on to your chosen beneficiary or beneficiaries, such as at the time of your death.

Trusts have various uses and functions. They are often employed to pass along your assets to your heirs outside of the probate process, keeping the transfer private. Trusts can also be used to ensure that the assets you wish to pass along are preserved for the benefit of heirs from creditors, addiction, or even unscrupulous spouses. Many times, clients have children or other heirs who, due to age or infirmity, are not allowed to inherit directly. A trust allows you to still use those assets after you have passed on to care for those heirs.

In addition to these benefits, trusts offer remarkable flexibility. They can be crafted to fit distinct personal and financial goals, such as supporting a family member with special needs without jeopardizing their benefits or structuring charitable trusts that allow you to support causes you care about long after your lifetime. Trusts also come with specific tax advantages that can be leveraged to minimize the overall tax burden on your estate, allowing more of your wealth to reach your intended beneficiaries.

Our attorneys at Curtis Law Firm are well-versed in trust law and can arrange to retain the use of assets in trust during your lifetime, helping you avoid the probate process (including probate costs and the leaving of a public record), so your assets can go straight to your beneficiaries at the time of your death.

Our firm also assists individuals with gun trust matters. Transferring ownership of guns doesn’t have to be difficult when you have a gun trust in place. Instead of allowing local law enforcement to confiscate guns when you pass away, our team at Curtis Law Firm can help you legally transfer titles to beneficiaries through gun trusts, ensuring compliance with all federal and state gun laws.

Wills & Navigating Probate with an Estate Planning Attorney in Denver

Wills and probate are another area of estate planning that we can help you navigate. A last will and testament is a legal document that clarifies your wishes regarding how you want your assets distributed after you have passed away. Your will would name someone as the Personal Representative of your estate. A personal representative is the person or organization in charge of administering your estate after your passing. After you die, your personal representative would petition the Court for permission to begin administering your estate and will file your Last Will & Testament with the Court. There are specific rules that must be followed to successfully probate an estate. If done incorrectly, the personal representative can be liable to personally pay for your debts after you pass away. That’s why it is so important to talk to a qualified attorney about the Colorado probate process. Probate records are open to the public.

Creating a comprehensive will is essential for ensuring that your wishes are honored and your dependents are cared for, safeguarding against potential legal disputes. Additionally, understanding the probate process in Colorado can help you know what to anticipate, as it involves validating the will, assessing assets, and settling debts before distribution to heirs. Our firm assists clients in navigating this often-complex process by providing clear, comprehensive guidance tailored to your circumstances.

Whenever we create a trust for a client, we always create a will as well. The purpose of the will is to ensure that any assets inadvertently left out of the trust before passing away are placed in the trust and then managed by the trustee rather than by the Court.

Guardianship Nomination with Guidance from Estate Planning Lawyers

If you have young children, you want to ensure they are taken care of and cared for by someone you trust. As part of your estate plan, we can help you create a Guardianship Nomination. This is a document that your trusted person would present to the Court, after you pass away, to ask the Court to name them as the guardian for your children. Without such a document, it would be difficult for your trusted person to get in front of the Court to ask for that guardianship.

The nomination of a guardian is a critical decision that carries significant responsibility. By legally naming a guardian, you have control over who will care for your children, ensuring they are raised according to your values and wishes. This document prevents uncertainties and potential conflicts among family members that could arise if no clear preference is stated. Our firm is committed to guiding you through these considerations, helping craft a plan that reflects your priorities and provides for your children's future well-being.

To speak with our experienced Denver estate planning lawyers, call us at (720) 408-7726 or contact us online today.