Wills/Trusts/Estate Planning
The Hoffman Law Firm has a team of attorneys ready to help you and your family not only plan for your future but also your legacy. We work closely with our clients to develop thorough, in-depth estate plans to guarantee your loved ones know, understand, and follow your wishes.
Protecting the Future of Your Estate
Many people do not make estate planning a priority. Maybe you believe that you do not have assets worth protecting, you believe you are too young for any planning, or you are not comfortable discussing these personal topics. The attorneys at our firm belief that you are never too young to start planning and we understand that these topics can be sensitive and emotional. Wherever you are in life, our knowledgeable team is passionate about ensuring that you, your family, your business, and your assets are protected and planned for.
The word “estate” might sound intimidating to some. However, it is a simple umbrella term used to describe the items you own when you pass away, including money, property, life insurance, business, assets, and personal effects.
Estate Planning does not only affect your estate, but also those you care for. If you have young children or adults who are under your care, an estate plan can be vital to ensure your dependents are cared for as you desire and that your estate goes in your dependents’ best interest. Also, estate planning does not only address when you pass away but can also be used in situations where you have a medical emergency or are incapacitated.
When planning for your estate, there are various documents that the Hoffman Law Firm uses to ensure everything is planned properly. Some of these documents include:
- Last will and testament
- Trust
- Living will
- Healthcare power of attorney
- Durable power of attorney
Having a strong estate plan in place can be one of the best gifts you leave for your family and loved ones as it will make the handling of your affairs after you pass away much simpler and more streamlined for your loved ones. Your loved ones will know your wishes and can ensure they are followed. Also, with a good estate plan you can generally avoid disputes over your estate, which can often become lengthy, stressful, and expensive for your loved ones.
Whether your estate is small or large, our compassionate attorneys are here to keep your and your family’s best interest protected in order to avoid stress in the future. We understand that every estate is unique, so our attorneys are
eager to meet with you one-on-one to develop a personalized plan for you, your family, or your business.
The Hoffman Law Firm offers a variety of estate planning packages that can be personalized to meet your needs. Give us a call to schedule a free consultation at (970) 305-5424
An estate comprises the assets owned by an individual when they pass away. This can include money, property, life insurance, business(es), assets, and personal effects.
Estate planning is the process of planning for the management and disposal of an estate in preparation for that person’s future death or incapacitation.
An estate plan can be vital to ensure your dependents are cared for as you desire and that your estate goes in your dependents’ best interest.
Check out our blogs, “What are the Responsibilities of an Estate Planning Lawyer?” and “How to Find the Right Estate Planning Attorney in Colorado” for more information.
Everyone needs an estate plan, regardless of one’s age or the number of assets.
The necessary documents can vary, but many estate plans include a will, trust, living will, healthcare power of attorney, and general power of attorney.
A will, also referred to as a last will and testament, is an instructional document for a personal representative to follow in the event of a death. These instructions identify when, how, and to whom your assets should be disposed. If necessary, wills can also address business affairs and naming guardians for minor or disabled adult child(ren).
When someone dies intestate, or without a will, Colorado essentially writes the person’s will for them through a set of statutes. These statutes dictate who is entitled to what, who has priority to be the personal representative, and other terms and procedures related to estate administration.
A living trust is a legal document that outlines how your assets should be managed and distributed. It takes effect during your lifetime and provides instructions for a trustee to follow both while you are alive and if you become mentally incapacitated or pass away.
A trustee is a person responsible for carrying out the directions within the living trust.
A trustmaker is the living person for whom the trust agreement is created.
A beneficiary is the person who benefits under the terms of the trust agreement.
A living will covers the administration, withholding, or withdrawal of life-sustaining procedures when you have a terminal condition and are unconscious or otherwise incompetent. The instructions within your living will—which can include artificial nutrition, artificial hydration, and the administration, removal, or refusal of life-sustaining procedures—govern your treating physician’s course of action.
A healthcare power of attorney is an individual you have selected to make medical decisions on your behalf when you cannot make them for yourself.
Check out our blog, “What is a Power of Attorney for Healthcare in Colorado?”, to learn more.
At Hoffman Law Firm, we recognize that every financial situation, family structure, business, etc., is unique. Therefore, we take a custom approach to every estate planning case.
Typically, we begin with a phone introductory consultation to discuss your needs and some of our different options. From there, we send you our Estate Planning Checklist. This checklist encompasses all of the details that can be included in your estate plan and gives us a good understanding of your family and financial situation. We review this in-depth prior to meeting in-person.
The next step is an in-person meeting to review your checklist and ensure that we are on the right track. This meeting typically takes one hour. After our meeting, we will send you drafts of your estate planning documents to review.
Once you review and approve of our drafts, we schedule an in-person signing. At this meeting, we complete a final review of all documents, answer any questions you may have, and make any last-minute changes if needed. Once your documents are finalized, we go through each document individually and sign accordingly. There is a notary present as well as two witnesses from our office, and of course, your estate planning attorney.
Once your estate plan documents are executed, we organize all original documents in your estate plan book and prepare electronic copies for you as well. We ensure you receive both the original and electronic copies, and our office keeps an electronic copy on file.
Call our office at 970-305-5424 to schedule a free consultation with our estate planning attorneys. Our compassionate and understanding attorneys are eager to help you and your family not only plan for your future but also your legacy.
Contact A Member of Our Team
Schedule a free consultation about your case, call (970) 305-5424. Legal services are provided across Colorado and Wyoming.