Can a Will or Trust Help Secure Your Future?
Our Centennial Trust Attorney Offers Advice on Drafting Helpful Legal Measures
When you obtain wealth through hard work, you create an opportunity for everyone involved in your life. The stress of planning for the protection of the people you care most for can be overwhelming. If you have an estate, large or small, you want to ensure that it is protected. Our Centennial trust attorney can help you establish a will or trust that can help you preserve your wealth and maximize opportunities for generations.
For decades, the Colorado will and trust attorneys at Skipton Law, LLC have helped families use will and trust law to protect their best interests. At our firm, you will receive personal attention from trust lawyer, Skipton S. Reynolds, who works with clients across the greater Denver metro area. He can help you draft a blueprint for your future based on the needs of you and your family.
What Is a Trust?
In general, a trust is used to pay for various needs that you or your family may have. After a trust is established, you can determine how the funds are used. One advantage of establishing a trust is allowing a family to avoid probate court upon your death. Your assets, when owned in a revocable living trust, will pass directly to the named trust beneficiaries upon the trustee’s death. A properly drafted trust can result in tax benefits and protections from creditors.
A family needs trust will not be used for basic needs such as clothing, food and housing — public benefits will usually provide for these needs. A family needs trusts can be used by a beneficiary to purchase a home or lease other property. Family needs trusts can also be used for purchasing adaptive or special needs furniture.
Some other uses for a trust can involve:
- Home Care: Many elderly people and those with special needs require in-home care. You can continue these services through an established trust.
- Health Care: Future trips to the dentist, support services, physical therapy and other services can be paid for with your established trust. This is an important part of medical planning as it covers costs not paid for in benefit programs.
- Household Expenses: Bills are one thing you can count on in the future. Telephone expenses, cable bills and personal items — like computers — can be covered in your trust.
- Recreational Activities: An elderly family member, or one with special needs, may be used to attending community programs. Any trips, visits or camps may be paid for with an established trust.
Do I Need an Attorney for a Will?
A will is a document that goes into effect upon one’s death. A will allows a decedent’s family to avoid the probate process in court, which makes the process much easier. Additionally, a will can name a guardian for the decedent’s children if both parents pass away. Your will should be reviewed every three to five years in order to verify that it is current with existing law. Further, your will should be updated when you experience any major life events, such as marriage or relocation. In any case, a Centennial will lawyer is recommended.
Some people try to draft a will without a lawyer. However, without an experienced Centennial will attorney, you can easily overlook important details. Since a will is essentially a set of instructions, it is important to get these instructions correct to avoid adding legal hurdles, such as litigation in probate court, to the process. Our Centennial will lawyer can help you draft a will that establishes who will receive what portion of an inheritance. In addition, we can help you draft a will that defines who will raise minor children, addresses tax planning and who is in charge of your estate.
Are You Looking to Safeguard Your Family’s Future? Call Our Centennial Trust Attorney
Are you looking for effective ways to make investments through a trust? Do you have questions about defective wills? Has a loved one demonstrated lack of capacity during a change to trust or will? Trust litigation in Colorado can be complicated, but it does not have to be hard. Our Centennial trust lawyer can simplify the process and bring you peace of mind about your will or trust.
If you are concerned about what will happen to your property, consult with a trust lawyer who can advise you about your rights. Contact us online or call The Law Office of Skipton Reynolds today at (720) 613-2633 to schedule a consultation.