A Last Will and Testament (will) is an important estate planning document that every person, regardless of financial status, should consider creating. Many people make the mistake of putting off their will until a later date; this is a huge mistake, as we are never guaranteed tomorrow. Whether a person is 18 or 80, the ideal time to create a will is now. Johnson Law Group provides legal guidance to ensure your rights are protected. Those who desire more information regarding how to create a will in Colorado can reach out to our experienced legal team today at (720) 463-4333 or text (720) 730-4558.
The individual creating the will is known as the "testator." In Colorado, specific legal requirements apply to both the testator and the actual will. The testator must:
According to the Colorado Bar Association, the actual will itself must be:
There are certain rules and exceptions to the above, however, these are the general requirements for creating a will in Colorado. A will must be typed or handwritten (holographic).
Before creating a will, it is important to consider what property is involved along with who will inherit certain properties, assets, heirlooms, etc. Examples of things to consider include but are not limited to:
There are some property distribution exceptions to keep in mind. These include:
These are some of the factors to consider when making a will. It is important to use clear, concise language when creating a will so that it is easily and correctly understood.
When someone dies without a will in Colorado, the property is distributed among those closest to the decedent. This usually means a spouse, children, or other close relatives. Grandparents or parents will be given property when there are no children or spouses. When there are no "close" or immediate relatives, assets may end up the property of cousins or other distant relatives. Essentially, a person's property can end up the property of the state if it is determined there are no living blood or marriage relatives. By creating a will, you protect your property, loved ones, and family. A will is used to:
There are many templates available online for making a will, however, in many cases, these wills may not be legally valid under the law. For example, electronic or "digital" wills that exist only online are not allowed. After creating a will online, it must be printed out as a paper copy. There are other requirements that a will must have under state guidelines, and if the online will that a person creates does not follow those exactly, the will is considered invalid. If you are interested in creating a will or any estate planning document, feel free to contact the experienced estate planning attorneys at Johnson Law Group with any questions you may have.
Writing a will is essential to protecting your loved ones' futures and distributing your estate according to your wishes. However, storing your will is important as well. It is not enough to place a will in a drawer or other location that could be compromised by weather conditions (fire, tornado, etc.) or where children or others could access it. There are probate services and will storage companies available to take care of storing a will; a will writing service can also store your will securely. Those who choose to store their own wills should choose a highly secure location such as a home safe or bank. Some people choose to entrust the storage of their wills to the executor of the estate.
A will is a highly important document when it comes to estate planning. Without a will, loved ones and family members may be left to go through what is often an arduous process – probate. Probate brings everything out in the public, and often leaves loved ones fighting over property, money, and other assets. Those who are interested in learning more about how to create a will in Colorado may reach out to Johnson Law Group for legal support at (720) 463-4333 or text (720)-730-4558.