Estate Planning Law Firm
People work their entire lives to accumulate valuable assets. Most of them envision their family members benefitting from their hard work for generations after they are gone. Many people think estate planning is only for the wealthy, however, nothing can be further from the truth. If you have any assets, savings, or a home, you too can benefit from estate planning. What many people do not realize is without proper estate planning, their assets are vulnerable to costly legal battles and could be tied up in probate court for years and a large portion of it can be taken by the local, state and federal governments.
What is probate? The act or process of proving a will. It involves the legal process by which a person’s final debts are settled and legal title to property is formally passed from the deceased to his or her beneficiaries and heirs. It also provides a court-supervised distribution of an estate’s assets. When a person dies, his or her estate must go through probate, which is a process overseen by the court.
Estate planning is an area many people here in Centennial, CO ignore to their own detriment. However, having an estate plan will protect the rights of your loved ones and ensure they receive the assets you want them to have. It will also minimize the amount any applicable estate taxes. The Law Office of Skipton Reynolds focuses on estate planning. Our team of attorneys can provide you with the guidance you need to make an effective plan to ensure the smooth handling of your money and other resources after your death.
Our office can provide you with the proper legal guidance to protect your assets in the following ways:
- We can work with you to assign beneficiary designations for your assets to keep your heirs out of probate court.
- We can help you create a revocable trust. This is a document which will control and transfer the ownership of your assets according to a plan that you create.
- Should your assets exceed the amount of the estate tax exemption and you want to leave all your assets to your spouse, we can create a solution that helps reduce the amount of estate tax you will have to pay.
- We can help you retitle your home to ensure it passes to the surviving spouse automatically. This provides some additional creditor protection other types of titles do not offer.
- We can help to ensure the assets you leave to your children are properly protected and distributed to them according to your wishes.
Even if you created an estate plan many years ago, we can help you to update it to cover your current circumstances in the following ways:
- We can help you with supplemental needs trusts and a variety of other plans that will not deprive your heirs of receiving public benefits to which they are entitled because of your gift.
- We can help you to update your estate plans to include the birth of your grandchildren, divorce, or other major life events.
- We can help with the designation of a health care proxy or someone with durable power of attorney.
At Skipton Reynolds, we have many years of experience handling estate planning for people with a wide range of asset levels. We specialize in estate planning and have vast experience with and knowledge of how taxes and other issues can affect your estate. We invite you to come in and meet with our staff and let us show you how we can protect your assets, keep your heirs out of court and ensure they get what you want them to have after you are gone.
If you want to ensure your loved ones will be the individuals to benefit from your assets, we can help. Simply give us a call today.