Colorado Springs Wills Attorneys

Secure Your Family’s Future with Your Will

A will is a legal document that outlines what will happen to your assets when you pass away. It’s an important part of any estate plan, along with an analysis of whether a legal trust should also be formed. A comprehensive estate plan, including a will, can ensure that your wishes are carried out after death. If you don’t have a will or a full estate plan, it is critical to consult with an experienced wills and trusts attorney Colorado Springs. Equally important is updating your existing will with a fresh will or a codicil or amendment to an existing will.

Our experienced legal team at Drexler Law is ready to help you create a personalized estate plan, including an appropriate will instrument that is tailored to your unique needs. Our attorneys are well-versed in the complexities of estate planning and can provide guidance on how to ensure that your wishes are properly documented. With their help, you can create a legally sound document that ensures that all of your assets are distributed according to your wishes.

For more information, contact Drexler Law today to request a consultation with our experienced Colorado Springs wills attorneys. You can reach us by calling (719) 259-0050.

How Your Will Can Prevent Probate Issues

A will is an important document that ensures your wishes are respected and makes the probate process smoother for your loved ones. With a will instrument, you decide how the assets in your estate, (including, among other assets, your bank accounts, real estate, automobiles, and investments), are managed . You can also appoint someone you trust to act as the personal representative or executor of your estate to manage the probate process upon your death.

It is important to know that your power of attorney terminates upon death; so, your agent under a power of attorney will not be able to exercise the rights under the power of attorney. Consult with the estate planning attorneys at Drexler Law to craft a comprehensive estate plan to carry out your specific instructions and wishes.

Without a will, your estate is divided up according to intestate succession. This means that your assets are distributed according to Colorado’s default laws, not your intentions. If you don’t have a will, it’s time to get one. Intestate succession can create a more complicated probate process for your loved ones, can extend an already complicated process, and can quickly become a source of legal conflict. You can prevent this by crafting a full estate plan without leaving the allocation of your estate to chance.

In addition, a well-crafted will can help minimize estate taxes, which can significantly impact the overall value of your estate. By taking advantage of various tax strategies and exemptions, you can ensure that more of your assets will benefit your heirs. The guidance of knowledgeable wills and trusts lawyers can be invaluable in structuring your estate plan to maximize these benefits, ensuring a more efficient transfer of wealth.

Understanding Colorado's Estate Laws

Colorado's estate laws have unique features that impact how wills and trusts are handled. For example, Colorado is a Uniform Probate Code state, which means the probate process tends to be simpler and less formal than in non-UPC states. However, this doesn't mean that creating a will is straightforward. The law requires very specific criteria to be met for a will to be deemed valid. For instance, wills must be signed by the testator (the person creating the will) and witnessed by at least two people to ensure legality. Understanding these nuances can prevent future legal challenges and ensure your last wishes are respected.

Additionally, Colorado law accommodates living trusts, which can be an advantageous part of a comprehensive estate plan. A living trust can help you manage your assets during your lifetime and ease their distribution after your passing, potentially avoiding probate altogether. However, establishing a living trust requires careful planning. With different legal options available, having a trusted wills and trusts lawyer in Colorado Springs can guide you in making the best decisions for your estate planning needs, considering factors unique to Colorado such as community property considerations and specific state tax laws.

Tips for Choosing the Right Wills & Trusts Attorney

Selecting the right attorney to draft or update your will involves several crucial considerations. First, seek out an attorney with extensive experience in estate planning, which ensures they are familiar with the latest laws and strategies relevant to Colorado Springs. Reviews and references from past clients can provide insights into their professionalism and effectiveness. Additionally, your attorney should offer a personalized approach, focusing not only on your current assets but your family’s future needs and how best to protect them. At Drexler Law, we pride ourselves on offering tailored legal services to meet each client's specific needs.

Another key factor is availability and communication. Choose an attorney who is accessible and willing to take the time to explain complex legal concepts in understandable terms. Estate planning is not a one-time transaction but an ongoing process that needs updates and adjustments as life changes. Your attorney should be someone you can trust to provide ongoing guidance. Lastly, ensure the legal cost structures are transparent. Your estate plan is a lasting legacy, and clear communication about fees is part of what makes the planning process smoother and builds trust between you and your attorney.

Your Will Can Cover More Than Just Your Property

While the primary function of a will is to distribute your estate to your heirs, it can perform other critical functions.

Assigning Guardianship of Dependents

One of these critical functions is designating a guardian. If you have minor children or an adult dependent in your care, dying without leaving your legally stated preferences for guardianship can create a complicated legal situation. Someone must care for your dependents, and it could be a relative who you wouldn’t prefer or the foster care system. Avoiding these outcomes is possible by stating your wishes for guardianship in your will.

Moreover, including a holistic approach to guardianship planning ensures that the educational, medical, and overall welfare needs of your dependents are addressed according to your wishes. This detailed planning can provide peace of mind that your loved ones will continue to receive the support and opportunities you wish for them, even in your absence.

Transferring Ownership of Beloved Pets

Pets are legal property, and many owners see their beloved pets differently. If you think it’s possible for your pet to outlive you, you may wish to ensure that ownership transfers to a friend or relative whom you trust to love and care for your pet in your absence. You can also accomplish this goal with a will.

To further protect your pets, you may consider setting aside funds specifically designated for their care. This can be done through a pet trust, which ensures that the financial resources necessary for their welfare are maintained and used according to your directives. This proactive step can ensure your pets will continue to have a high quality of life after your passing.

There are many other important things you can do with a will that don’t necessarily involve your monetary assets or real property. Consult with one of our experienced wills attorneys in Colorado Springs to learn more!

Why You Shouldn’t Try to ‘DIY’ Your Will

Drafting your own will, like representing yourself in court, is hardly a good idea. It’s best to consult a wills and trusts lawyer. Even if you know what you want and how you want your possessions distributed, this does not guarantee that the document created will be legally binding in court.

If a DIY will instrument is not properly prepared, it will cause delays, expense and avoidable complexity in the probate process and can even be invalidated or thrown out by the probate court. If a will is declared void, estate assets generally pass to surviving heirs according to intestate succession laws, which not only differ from state to state but may also be completely counter to the goals you thought you were documenting. Don’t chance it with a DIY or “internet” will; there’s no guarantee that your wishes will be honored, and you could unintentionally leave behind confusion, conflict, and expense for those you love and intended to receive your estate.

Additionally, estate laws are subject to change and can be complex, varying significantly from one jurisdiction to another. Only a knowledgeable attorney can ensure your will complies with current laws and maximizes the available legal protections. The advice from professionals can aid in the thorough exploration of all available options to minimize taxes and expenses, ensuring a more effective transfer of your assets.

The Importance of Updating Your Will

Life is constantly changing, and so should your will. Major life events such as marriage, divorce, the birth of a child, or the acquisition of new assets can significantly impact your estate planning. Regularly reviewing and updating your will ensures that it reflects your current wishes and circumstances, providing peace of mind for you and your loved ones.

Here are some key reasons to consider updating your will:

Reflect Changes in Family Dynamics: As your family grows or changes, your will should accurately represent your intentions regarding guardianship and inheritance.
Incorporate New Assets: If you've acquired new property, investments, or valuable items, updating your will ensures these assets are distributed according to your wishes.
Avoid Conflicts: An outdated will may lead to confusion or disputes among heirs. Keeping your will current helps minimize the risk of conflict during probate.
Stay Compliant with Legal Changes: Laws regarding wills and estates can evolve. Regular reviews with our experienced attorneys will help ensure your will complies with the latest legal requirements.
Peace of Mind: Knowing that your will accurately reflects your intentions can provide you and your family with reassurance and security.

At Drexler Law, our dedicated team in Colorado Springs is here to guide you through the process of will updates and ensure your estate plan remains effective and relevant. Don't wait for a significant life change—contact us today to schedule a consultation!

Our Experienced Colorado Springs Wills Lawyers Can Help

You can avoid leaving your loved ones with a complicated legal situation after your death by binding your estate to a professionally crafted will and comprehensive estate plan. Our experienced estate planning and wills attorneys located in Colorado Springs can offer the legal support and services you require to write an effective will that reflects your values and accomplishes your estate planning goals.

For more information, contact Drexler Law today to request a consultation with our experienced Colorado Springs wills attorneys. You can reach us by calling (719) 259-0050.

Commonly Asked Questions

Can a will include instructions for guardianship of dependents?

Yes, a will can include instructions for the guardianship of dependents. This is essential if you have minor children or adult dependents, as dying without a will leaves their care to the courts, which may result in outcomes you wouldn't prefer. By designating a guardian in your will, you ensure that your dependents are cared for according to your wishes.

Why is having a will important?

Having a will in Colorado Springs is crucial as it ensures your assets are distributed according to your wishes after you pass away. It provides clarity and direction for the probate process, making it smoother for your loved ones. Without a will, your estate would be subject to Colorado's intestate succession laws, which may not align with your intentions, potentially leading to legal conflicts and complications for your heirs.

How can I ensure my pets are taken care of after I pass away?

You can ensure your pets are well taken care of after your passing by including provisions in your will for their guardianship. Pets are considered property, and you can designate a trusted friend or relative in your will to take ownership and provide care for your pets, ensuring they are loved and looked after in your absence.

What happens if I die without a will in Colorado?

If you die without a will in Colorado, your estate is distributed according to the state's intestate succession laws. This legal framework prioritizes close family members, such as spouses and children, in distributing your assets. However, the law does not account for personal relationships or situations where you may wish to leave assets to non-family members. The process can become complex, leading to potential conflicts or disputes among heirs who feel the distribution does not align with your intended wishes. Moreover, without a will, you forfeit the opportunity to appoint a guardian for any minor children, leaving that decision up to a court. Having a will drafted by a will lawyer in Colorado Springs can avert these issues, ensuring your desires are respected and your loved ones are taken care of as you see fit.

What should I consider when updating my will?

When updating your will, several critical considerations should guide the process to ensure it meets your current intentions and circumstances. Consider significant life changes such as marriage, divorce, the birth of children, or passing of beneficiaries, as these events directly affect inheritance plans. Evaluate changes in your financial situation, such as acquiring new assets or paying off debts, which might necessitate redistributing your estate. Furthermore, align your will with any changes in state or federal laws since they can influence the tax implications for your estate and heirs. With the guidance of a wills and trusts attorney at Drexler Law, you can ensure your updated will comprehensively reflects your present wishes and leverages current legal advantages to protect your legacy effectively.