Chayet & Danzo, LLC Chayet & Danzo, LLC www.Coloradoelderlaw.com
Call for a Free Initial Consultation
Direct303-872-5980
Toll-Free 1-888-472-1088
Email Us
Compassion, talent and dedication: guiding colorado families and Their Trusted Advisors During Times of Need

Here are some simple, effective tips for estate planning

There are so many people all across the country that either don't have a will (or an estate plan) or have an incomplete or insufficient will (or estate plan). That is an unfortunate fact, and it should motivate you to get a will (or complete one), depending on your personal situation.

Having a will is absolutely vital, as it dictates how your assets, property and estate are handled upon your death. You get to dictate how that happens through your will. In the absence of a will, state laws and probate will dictate how that happens, which can be costly and time-consuming, as well as failing to reflect your true intentions for your estate.

That's just a general tip for estate planning: have a will. Getting slightly more specific, if you have kids, you should make sure to get life insurance. In addition, you need to update your will (if you have one) to reflect the fact that you want your kids as the beneficiaries of your estate.

You will also want to establish a trust (or even multiple trusts) to reduce the tax implications of your estate being distributed upon your death. It will also ensure that your beneficiaries are receiving your "nest egg" under the proper circumstances.

Ultimately, to ensure that you are doing everything properly and that your estate is proper and compliant, you should have a lawyer advising you throughout the process. This will protect your rights and interests as you craft your personal and unique estate plan.

Source: FindLaw, "Estate Planning Tips: Find the Right Estate Plan for You," Accessed Feb. 16, 2016

No Comments

Leave a comment
Comment Information

Watch Our Firm Video

We are the premier Elder Law firm in the Colorado region. We set ourselves apart from other law firms in the area with our talent, dedication, compassion and ability of our attorneys to handle any case in Elder Law. We serve Colorado families with experience and dignity in your time of need.

View More Videos

Denver Office
650 S.Cherry St., Suite 710
Denver, CO 80246

Phone: 303-872-5980
Fax: 303-355-8501
Denver Law Office Map

Edwards Office
105 Edwards Village Blvd.
#D-201
Edwards, CO 81632

Toll Free: 888-472-1088
Fax: 303-355-8501
Edwards Law Office Map

Aspen Office
600 East Hopkins Avenue
Suite 301
Aspen, CO 81611

Toll Free: 888-472-1088
Fax: 303-355-8501
Aspen Law Office Map

  • Rated by Super Lawyers Macro Chayet SuperLawyers.com
  • Rated by Super Lawyers Frank J. Danzo, III  SuperLawyers.com
  • Member National Academy of Elder Law Attorneys, Inc. TM
  • Avvo Rating 10.0 Superb Top Attorney Elder Law
  • 2015 Five Star Professional Wealth Manager Multi-Year Winner
  • Our new 2015 Medicaid Book: how to protect your Family's Assets from devastating nursing home costs
  • Proud Sponsor 2015-Denver Colorado Senior Law Day
  • Peer Review Rated For Ethical standards & Legal Ability TM Martindale Hubbell
  • Haystack