Standard Distribution To Family And Heirs

Families come in all shapes and sizes. Estate plans need to come in just as many to make sure your gifts are given in accordance with your wishes and fit your unique family dynamic.

In Colorado, state laws recognize a standard distribution for individuals who pass away without a will, but these standard distributions often do not sufficiently recognize the complex nature of families today nor do they memorialize the individual’s wishes. Standard distribution, formally referred to as “intestate succession” allows for the individual’s  immediate family members only (parents, siblings, spouse, and children (biological and legally adopted)) to inherit assets left behind, which may leave out many of the possibilities for what is viewed as family in today’s society such as step children not legally adopted, foster children, in laws, and chosen family like close friends.

The best way to make sure that your legacy gifts are distributed the way you intend after your passing is to memorialize your wishes in a Will and have it notarized and witnessed. Working with a Lakewood estate planning attorney to craft an estate plan is deeply personal. Finding the right attorney is key to making sure that your needs are heard and met. A comprehensive estate plan can also allow you to make end of life, medical, and financial decisions before any issues arise, saving time and heart ache for those you love.

When a second marriage, children from multiple relationships, or unconventionally found family are involved in your family, it is important to make sure your wishes are recorded properly to ease the burden on your heirs. Complex and sensitive family dynamics can be tricky to navigate in your family planning. Here are Pearson & Paris, P.C., we are happy to assist you to make sure your final wishes are properly recorded and your legacy is protected. Call us today to schedule a consultation with one of our experienced estate planning attorneys.