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Denver Estate Planning Lawyer

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Estate Planning Attorney in Denver, CO

best estate planning lawyer in denver

Many people struggle with making plans for after their death, but estate planning is one of the most valuable things you can do for yourself and your family. Estate plans can extend beyond basic wills, including plans that affect you and your estate while you are still alive. A Denver estate planning lawyer can help you create the plan that most fits your needs.

Contact Pearson & Paris, P.C.

Why Choose Pearson & Paris, P.C.

At Pearson & Paris, P.C., our compassionate team is well-versed in the nuances of estate planning laws. We understand the difficulty and importance of planning for the future, and are prepared to help you achieve your estate planning goals.

What Goes Into Estate Planning?

Most people associate estate planning with wills. While a will can be a valuable estate planning tool, it isn’t the only one. Other documents include:

  • Trusts (revocable and irrevocable), which can go into effect while you’re alive and allow you to name a trustee to manage the property within the trust
  • Advanced healthcare directives, which provide instructions for your medical care if you become unable to communicate
  • Powers of attorney, which grant a chosen person the ability to act on your behalf in specific financial, legal, or medical matters

Each of these documents forms part of the plan for what happens to your estate when you die or become incapacitated. You can name beneficiaries for your estate, state your wishes for how assets are divided, and more. You might want to include more than one of these documents in your plans, covering different aspects of estate planning.

Estate planning cases are all unique, as the number of options available creates a lot of flexibility. A will, the most commonly used estate planning tool, takes effect upon your death. It must go through the probate process to be validated and to ensure the estate is properly distributed.

Probate is the legal process where a petition or application is filed with the Denver Probate Court, and a representative or executor is appointed to manage and distribute the estate according to legal requirements and a will, if there is one. This process can be completed with or without a court hearing, depending on the complexity of the case.

Trusts are not typically required to go through the probate process because all assets placed in the trust are owned by the trust instead of the individual. This estate planning tool also allows for a more private distribution and management of your estate. You can also place restrictions on what beneficiaries can do with property in the trust and when.

Our attorneys can explain the many options that might be available to you and ensure your estate plan covers every aspect of your estate and life.

Estate Plans Are Vital for Everyone

In a recent Talker Research survey of 750 Americans, 64% of respondents had not yet created any type of estate plan. This means that, should they pass away or become incapacitated, their estate would be subject to the probate process, which is often lengthy and does not allow them to enact their wishes for how their estate should be distributed.

Everyone can benefit from estate planning, from residents of Five Points to Washington Park and beyond. When you hire an estate planning lawyer, you can start the process of creating a plan that honors your wishes for your estate.

This can protect your assets and family if something unexpected happens to you, even if you’re incapacitated.

How a Denver Estate Planning Attorney Supports Your Goals

best estate planning attorney in denver

Estate planning lawyers can help with every step of the planning process. Our attorneys understand that no matter the value of your estate, having a plan for it is vital to its protection.

Our efficient Denver estate planning lawyers are prepared to support all parts of your estate planning, including:

  • Drafting estate planning documents
  • Facilitating communication with and the distribution of documents to relevant parties
  • Ensuring the accuracy and legality of all terms in your plans
  • Presenting and helping you comprehend the different estate planning options available to you

While many of these steps can be taken alone, it’s better to have someone familiar with Denver estate planning laws on your side. That way, you can ensure your plan is legally valid, comprehensive, and matches your goals.

FAQs About Denver, CO Estate Planning Laws

What Is the 5 by 5 Rule in Estate Planning?

In estate planning, the 5 by 5 rule is a potential clause in trusts that would allow a beneficiary to withdraw a certain amount from the trust each year. Typically, that amount is $5,000 or 5% of the fair market value of the trust, whichever is greater. Some clauses can also limit under what circumstances, or for what purposes, a beneficiary can withdraw funds.

How Long Does Estate Planning Take?

The amount of time that estate planning takes depends on the complexity of your estate and how quickly you can make decisions about matters like who gets what assets. You can work with our estate planning team to ensure your plan is completed as quickly and efficiently as possible without leaving anything out.

How Much Does It Cost to Create an Estate Plan in Denver?

The exact cost to create an estate plan varies. Factors like attorney fees, the size of your estate, and what documents you want to draft will affect this cost. While an up-front cost can be daunting, the benefits of having a legally sound plan in place are plentiful. To get an accurate cost estimate, you should consult with an estate planning lawyer at our firm.

How Often Should You Update an Estate Plan?

Generally, you should update your estate plan after a major life change, such as getting married or divorced, having a child, a death, or a significant change in assets. It’s often recommended to at least review your estate plan every few years, even if there has been no significant event in your life.

Hire a Denver Estate Planning Lawyer Today

It’s never too soon to start thinking about estate planning. No matter your age or the value of your estate, estate planning helps safeguard you and your loved ones against unexpected life circumstances. There are many options for estate planning, giving you the flexibility to create the plan that feels right for you.

To learn more about your options and what next steps you should take, reach out to us or visit our offices right off Denver West Parkway. Our team at Pearson & Paris, P.C. is responsive, compassionate, and dedicated to providing you with guidance in your estate planning journey.

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Pearson & Paris, P.C. is here to help you solve whatever legal challenge you are facing.

Call today for an appointment or complete the brief online form. We serve all of Colorado.

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