Planning For Your Future And Your Legacy
Planning for your future is a serious matter. Not only do you want to secure the legacy you leave your loved ones, but you also need to consider your own care and well-being as you get older. At Pearman Law Firm, P.C., our lawyers will carefully review your particular needs and circumstances so we can provide you with an estate plan that meets your goals. We serve families of all income and asset levels in Wheat Ridge and other communities in the Denver metropolitan area.
What Is Included In An Estate Plan?
An estate plan consists of legal documents that include individual components that work together to protect your health, assets and beneficiaries. Those components include:
- Will: – This is the document most people are familiar with that describes your personal and financial decisions, such as how you would like your assets divided after your death.
- Living trust: You may put your assets into a trust to avoid the probate process and control how the assets are used after your incapacity or death.
- Medical power of attorney: You can name an “agent” to make health care decisions for you if you are unable to communicate your wishes or become incompetent.
- Durable power of attorney: As you age, you may need assistance handling your finances. This document allows you to name someone you trust to help you if necessary.
- Advanced medical directive: Also referred to as a living will, this power of attorney document states your wishes regarding the extreme care you may need if you are unable to communicate.
- Beneficiary designations: Many financial accounts and insurance policies allow you to name your beneficiaries for each of those accounts directly rather than having to go through the probate process.
- Review of real estate: You should always have an attorney review the title to any real estate you own to make sure it will pass to your heirs the way you intend after you die, whether through probate, a trust, a transfer on death deed or joint tenancy.
Though many people do not like to think about aging or death, your family should know your wishes, and your estate plan can protect your assets should something happen to you. For more information about estate planning with Pearman Law Firm, P.C., call 720-259-9528.
What Is Estate Planning And Why Is It Important?
Estate planning allows you to make legally enforceable decisions about your future health care in times of incapacity, the management of your assets if you are incompetent or incapacitated, and the distribution of your assets after your death.
What Kind Of Estate Planning Do You Need In Colorado?
A better question might be: What types of estate planning tools will you take advantage of? An estate plan is not a requirement, but it is a way of protecting one’s assets and the interests of family members or other chosen beneficiaries. A well-rounded estate plan often includes a medical power of attorney, a durable power of attorney (for financial purposes), a will and a revocable living trust.
Discuss Your Colorado-Specific Estate Planning Documents And Goals With Us
No matter where you are in the estate planning process, the attorneys at Pearman Law Firm, P.C., can help. Reach out to us online or call 720-259-9528 today for a free initial phone consultation with an estate planning lawyer.