Estate Planning in Fort Collins, Loveland, and Larimer Counties
A comprehensive estate plan is critical for people to have at any age. Unfortunately, too many think that an estate plan is something they can wait to create, maybe after retirement. When tragedy strikes, their finances are a mess, and they lose control of the medical care they receive. Please contact Ores Law to talk with our Fort Collins estate planning lawyer. A proper estate plan can give you peace of mind that your wish will be respected.
Ores Law
Estate Planning
Tools
- Wills. Our clients use a will to pass assets after death. You can also name guardians for any minor children in this document, along with the person who will serve as your estate’s personal representative.
- Trusts. A trust often complements a will. You can also use a trust to pass assets to others after death outside of probate. Some trusts offer tax advantages, which allow your heirs to inherit more.
- Powers of attorney. If you become incapacitated, you need someone to handle your affairs. We use power of attorney documents to designate someone to act as your agent to make critical decisions.
- Living will. This is an advance directive for health care. Our clients can decide what type of medical care they receive if they are in a vegetative state or otherwise cannot communicate their wishes.
We also can help small business owners come up with business succession plans. This type of planning preserves the value of your small business for future generations.
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Why You Should Avoid
DIY Estate Planning
Many websites advertise estate planning at a reduced price. All you need to do is plug in some information into the computer, and the program spits out documents for you to sign. We strongly recommend you avoid this approach. Some mistakes include:
- You overlook important assets, like digital assets or intellectual property, which you forget to include in a will.
- You name someone to serve as the personal representative who is inappropriate or unable to serve.
- You leave assets to someone who is disabled, which disqualifies them from government benefits.
- The estate documents you create are not legally effective in Colorado.
- Your heirs end up paying much more in estate taxes, which you could have minimized with proper planning.
By the time your loved ones realize these mistakes, it’s too late to fix them. Contact a Fort Collins estate planning lawyer for individualized assistance in creating a plan.
Ores Law
Estate Planning
Goals
It’s vital to discuss your goals with your attorney. Not everyone seeks the same estate plan. Some common concerns include:
- How to divide an estate between children. Do you want to leave everything equally? Fairly? Or do you want to cut out one or more children altogether from your will?
- Charitable giving. You can reduce taxes and help others by giving to charities. It is important to approach charitable giving the right way.
- Leaving assets outside probate. Not all estate assets must pass through the court-supervised probate process. You can make gifts while living or use a trust or other process. Some of our clients purchase life insurance to provide income to their loved ones.
- Blended families. More people are getting remarried later in life, and legal issues arise with blended families. You can protect your children from a previous relationship while also providing for your current spouse.
Ores Law
Estate Planning
is for Everyone
Our clients come from all backgrounds and professions. Anyone could benefit from a comprehensive estate plan. For example, a young person might get into a tragic accident and pass away or become incapacitated. Who will raise your children? Who will make medical decisions for you when you can’t speak to your doctor?
It is critical to choose the right Fort Collins Loveland Larimer County Colorado estate planning lawyer. Attorney Nicholas Ores has more than 4 decades of experience as an attorney and has established his reputation for innovative problem-solving for clients. He can create the estate planning documents you need to ensure that the right people inherit from you and that your affairs are in order.
Ores Law
When to Update
an Estate Plan
Once you have a plan in place, you can take a well-deserved sigh of relief. You are ahead of the game. Only 1 in 3 Americans has an estate plan. Nonetheless, even the best plans require updating after important milestones, such as:
- Marriage
- Divorce
- Remarriage
- Birth of a child
- Acquisition of major assets
- Moving to Colorado
- Death of your personal representative or agent
Call Our Fort Collins, Loveland, & Larimer County
Northern Colorado Estate Planning Lawyer
Attorney Nicholas Ores has established himself as one of the most dependable attorneys in Northern Colorado. For help with your estate plan, call Ores Law Firm today.
FORT COLLINS | LOVELAND | SURROUNDING AREAS
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Magell Candelaria
I called 4 lawyers seeking help with my family trust matter. Nick Ores was the only one to return my call. He verified he could assist with my request and promptly provided instructions on how we would proceed with document delivery and filing. All were executed flawlessly and in short order. I was fully satisfied with the Law Office of Nicholas Ores and would recommend him to anyone.
