Denver Estate Planning Attorney

Our Denver estate planning attorneys can help you create a plan that benefits you while you are still alive and well, while also providing for your loved ones after you're gone. We offer a full range of estate planning services, including:

Wills

A will is a fundamental estate planning document that dictates the distribution of your assets and gives effect to your final wishes, such as funeral and burial arrangements. Your will also names an executor responsible for managing your estate through the probate process and carrying out your instructions. Our attorneys work with you to prepare a will that fully expresses your desired objectives and provides the security of knowing your family and other beneficiaries will be taken care of.

Trusts

Trusts are versatile legal instruments used to manage and distribute assets. Unlike wills, trusts are not subject to probate, making them easier to administer while affording greater privacy. A trustee selected by you administers the trust according to your instructions. We offer various types of trusts, including:

• Revocable Living Trusts — Created during your lifetime, these trusts allow you to serve as trustee and retain control of your assets while still providing for smooth asset transfer upon death.
• Irrevocable Living Trusts — Placing assets in this type of trust completely severs your ownership of them, effectively shielding assets from creditors and tax liabilities.
• Testamentary Trusts — Created in your will and taking effect after death, these trusts can serve various purposes, such as providing for minor children or relatives with special needs.

Our attorneys thoroughly examine your financial portfolio and particular circumstances to determine which trust instruments best meet your needs and objectives.

Powers of Attorney

If you suffer a catastrophic event that renders you incapable of managing your financial and personal affairs, the court may determine what happens to you and your assets. By creating durable powers of attorney, you can appoint trustworthy individuals to handle these matters according to your wishes. We help you establish:

• Financial Power of Attorney — Designates someone to manage your financial affairs
• Medical Power of Attorney — Appoints an agent to make healthcare decisions on your behalf

Advance Directives

Advance directives address the possibility that you may become incapacitated and unable to make decisions about your healthcare. These may include:

• Living Will — Contains healthcare directives, such as do-not-resuscitate orders that take effect in specific situations
• HIPAA Authorizations — Allows specified individuals to access your medical information

Guardianship Designations

If you have minor children or other dependents, determining who will care for them is crucial. Without guardianship designations, your children could potentially become wards of the state in a worst-case scenario. We help you select appropriate guardians based on their willingness to care for your dependents, their beliefs, trustworthiness, and financial stability.

Beneficiary Designations

Most financial accounts allow you to assign beneficiaries, including checking, savings, certificates of deposit, investments, and life insurance policies. When you choose assigned beneficiaries, these assets pass directly to the designated individuals and bypass probate proceedings. We ensure these designations align with your overall estate plan.

Letter of Intent

If you would like to determine your funeral arrangements or address other end-of-life concerns, a letter of intent can document these wishes. While not generally enforceable under law, these letters can inform decisions and serve as a backup to reiterate what you included in your will.

Understanding Colorado Estate Planning Laws & Trends

Estate planning in Colorado involves a unique set of laws that require careful navigation. Colorado's estate tax laws differ from federal regulations, making it crucial for residents to work with knowledgeable legal professionals. At Johnson Law Group, our attorneys possess a deep understanding of both Colorado state and federal estate laws. We leverage this knowledge to provide you with the most accurate and effective estate planning strategies.

Current trends in Colorado estate planning show a growing emphasis on digital asset management and green burial options. Our team stays abreast of these developments and is ready to incorporate them into your estate plan, ensuring it reflects modern preferences and technologies. Through proactive planning, we help our clients in Colorado avoid potential legal pitfalls and optimize their estates for their beneficiaries.

One emerging trend is the integration of charitable giving into estate plans. More Colorado residents are choosing to leave a part of their estate to causes they support, creating a lasting legacy of philanthropy. Whether through direct bequests or establishing charitable trusts, we guide clients in making impactful, tax-efficient contributions that reflect their values while offering beneficial tax incentives.

Why Start Estate Planning Early?

In our line of work, we've witnessed many people begin the estate planning process only to lose the opportunity to finish it. Life is unpredictable, making it important not to procrastinate on completing your estate plan. Consider starting sooner rather than later if:

• You live in an area currently affected by infectious diseases and have comorbidities
• You are at risk for or have been diagnosed with a potentially fatal disease
• You recently grew your family through birth or adoption
• You work in a high-risk field or participate in extreme hobbies
• You recently got married or divorced
• You are 45 years old or older

Our Estate Planning Process

At Johnson Law Group, we follow an established process to create effective estate plans tailored to each client's unique situation:

1. Initial Consultation

We believe in creating custom estate plans for each unique situation, so we make no recommendations until we have spoken with you. This ensures we are not biased toward any specific solutions before hearing your concerns and preferences. During the consultation, we can also advise you on any additional documentation you may need to present for our review.

2. Documentation Review

We carefully review relevant documents such as existing estate plans, investment accounts, bank statements, retirement accounts, asset titles, and business balance sheets. This gives us a clear picture of your financial situation, allowing us to better advise you on solutions that may include reducing current and future tax liabilities.

3. Estate Plan Drafting

Your attorney will take time to carefully draft an estate plan addressing your specific concerns. When necessary, we liaise with other professionals such as accountants and wealth managers to ensure compliance with financial goals and tax concerns. Once completed, we review the drafted documents with you thoroughly.

4. Finalization and Implementation

For simple estate plans, we generally get the plan right on the first draft. More complex estates may require multiple drafts to arrive at a finalized document. Once finalized, we assist you with implementation steps, such as re-titling assets in the name of trusts, updating beneficiary designations, and properly executing all documents.

Johnson Law Group: Your Local Authority in Estate Planning

When it comes to estate planning, choosing a local attorney can make all the difference. At Johnson Law Group, our deep roots in the Colorado community give us an insider's perspective on the unique needs and challenges residents face. We are proud to offer our clients the benefits of our big-firm expertise combined with the personal touch of a small, dedicated team.

Our lawyers are known for providing clear, honest advice and compassionate representation. This approach has earned us the trust of our clients and a reputation as leaders in the estate planning field. As your trusted legal partner in Colorado, we are committed to delivering peace of mind through comprehensive and enduring estate solutions.

Additionally, our commitment to continued education and staying up-to-date with legal changes ensures that our strategies are aligned with the latest regulations and best practices. This proactive stance allows us to anticipate potential issues and adapt our approach to protect your interests effectively.

Contact Us for Personalized Estate Planning Solutions

At Johnson Law Group, we understand the importance of a well-crafted estate plan. Our professional yet approachable team is ready to provide you with personalized attention and expert guidance. Schedule your free consultation today to discuss your needs with our experienced estate planning attorney Colorado. Let us help you secure your legacy and provide peace of mind for you and your loved ones. 

Call us at (720) 744-3513 to take the first step toward comprehensive estate planning in Colorado.

FAQs About Estate Planning in Colorado

What Is the Importance of Estate Planning in Colorado?

Estate planning is crucial for anyone who wishes to manage their assets effectively during their lifetime and beyond. In Colorado, an estate plan can help prevent family disputes, provide for minor children, and reduce tax burdens. By working with an experienced estate planning lawyer in Colorado, you can create a comprehensive plan that ensures your wishes are followed and your loved ones are protected.

Moreover, estate planning in Colorado offers the opportunity to take advantage of beneficial state-specific laws, such as community property rules and favorable probate processes. Understanding these aspects with professional guidance can help maximize the benefits to your beneficiaries while ensuring legal compliance and efficiency.

How Do Colorado's Estate Tax Laws Affect My Planning?

Colorado does not impose a state inheritance tax or estate tax, which can significantly influence your planning strategies. However, federal estate taxes may still apply depending on the size of your estate. It is important to work with a knowledgeable estate planning attorney in Colorado who can help you understand these laws and optimize your plan to minimize tax liabilities.

Estate planning can also address potential future changes in tax laws. By setting flexible plans that can adjust to new legislation, you can maintain the effectiveness of your estate plan under changing circumstances, thus preserving wealth for the next generations.

Can I Include Digital Assets in My Estate Plan?

Yes, you can include digital assets in your estate plan. As technological reliance grows, managing digital accounts and assets becomes increasingly important. At Johnson Law Group, we help you identify these assets and incorporate them into your plan, ensuring they are properly managed and transferred according to your wishes.

Digital assets may include online banking accounts, social media profiles, or digital copyrights and patents. Properly documenting these assets and how they are to be handled can prevent unauthorized access and ensure your digital legacy is maintained according to your desires.

What Are the Benefits of a Living Trust in Colorado?

A living trust is a valuable tool in estate planning, offering benefits such as privacy, probate avoidance, and continuous asset management. In Colorado, creating a living trust can be particularly beneficial for individuals with complex or large estates. Our attorneys can assist in establishing a living trust that aligns with your goals and protects your assets.

Additionally, a living trust provides continuity of asset management should you become incapacitated, ensuring your financial affairs are handled by someone you trust. This foresight not only upholds your financial preferences but also alleviates the burden on family members, offering them comfort and clarity during challenging times.

How Often Should I Update My Estate Plan?

It is advisable to review and update your estate plan regularly, especially after significant life changes such as marriage, divorce, or the birth of a child. Colorado residents should also consider revisiting their plan in light of any changes to state or federal laws. Our team at Johnson Law Group is always available to help you keep your estate plan current and effective.

Regular updates ensure that your estate plan remains aligned with your life circumstances and evolving goals. This proactive approach helps avoid potential disputes or complications that could arise from outdated provisions, safeguarding your intentions for the future.