Denver Wills Lawyers
Determine the Future of Your Estate
A will is an important foundational document in any estate plan. Without one, you effectively leave no instructions on how to handle your estate. This can have a devastating impact on any family because it can add stress to grief-stricken relatives. It can even cause familial strife when important legal and financial matters have to be addressed on the fly. Fortunately, leaving even a simple will can help you avoid the worst possible outcomes for your loved ones.
Get clear, reliable guidance from experienced Denver wills lawyers at Denver Family Lawyers—call (303) 225-3343 now to schedule your consultation and take the next step in protecting your estate.
What Can I Include in My Will?
When drafting your will, it's crucial to include specific details to ensure your wishes are honored and that your estate is distributed according to your intentions. A well-constructed will can provide clarity and peace of mind for you and your loved ones.
The following are some key elements you can include in your will:
- Executor: Name the person you trust to carry out the terms of your will.
- Guardianship: Specify who you want to take care of your minor children, if applicable.
- Beneficiaries: Clearly identify who will receive your assets and in what proportions.
- Specific bequests: Detail any particular items or sums of money you wish to leave to specific individuals or organizations.
- Assets and property: List your assets, including real estate, personal belongings, bank accounts, and investments.
- Digital assets: Provide instructions for handling your digital assets, such as online accounts and digital files.
- Debts and liabilities: Provide instructions on how your outstanding debts and liabilities should be managed.
- Charitable donations: Mention any donations you want to make to charitable organizations.
- Residue of the estate: Provide instructions on how to distribute any remaining assets not specifically mentioned.
- Funeral arrangements: Include any specific wishes for your funeral or memorial service.
- Signatures and witnesses: Ensure your will is signed by you and witnessed by at least two people, as required by law.
Many people also use their will to address practical matters that may not be obvious to family members, such as where important records are kept or how you prefer sentimental items to be handled if you have not listed each one individually. A Denver will lawyer from Denver Family Lawyers can help you think through situations that might arise for your family and suggest provisions that match your values, whether that means keeping a family cabin in the family or providing a modest gift to a favorite local charity.
Including these elements in your will helps ensure that your estate is managed and distributed according to your wishes. Consult with our wills attorneys in Denver for thorough planning that can provide peace of mind and clarity for your loved ones during a challenging time.
Why You Need A Will In Colorado
Many people put off creating a will because they believe they do not have enough assets or expect family members to “figure it out.” In Colorado, however, state intestacy laws decide who receives your property if you pass away without a valid will, and those rules may not match what you would have chosen. A carefully drafted will lets you decide who should inherit, who should serve as guardian for minor children, and who should be in charge of carrying out your wishes instead of leaving those decisions up to the court.
A will can also reduce stress and confusion for your loved ones at a time when they are already coping with loss. When your instructions are clear, your personal representative has a roadmap to follow when working with the Denver Probate Court or another district court, and family members are less likely to disagree about what you “would have wanted.” For many clients, the peace of mind that comes from knowing this work is done is one of the most valuable benefits of meeting with a Denver will attorney.
Even if you already have a will, it may need to be updated if there have been major changes in your life, such as marriage, divorce, a move to or from Colorado, or the birth of a child or grandchild. As part of our services at Denver Family Lawyers, we review your existing documents with you, discuss whether they still reflect your current situation, and recommend updates or a fresh will when appropriate so your plan continues to serve you well.
What Does The Executor Of My Will Do?
An executor, also known as a personal representative in some jurisdictions, is a person named in a will (or appointed by the court if there is no will) to administer the estate of a deceased individual. This is an important role that involves multiple legal and financial processes, so it’s important to strongly consider whom you wish to name as your estate’s executor.
Some of the tasks an executor is charged with include the following:
- Probate process: The executor initiates the probate process, which involves proving the validity of the will and obtaining legal authority to administer the estate. This typically involves filing the will with the probate court and following the court's procedures for administering the estate.
- Asset management: The executor takes inventory of the deceased person's assets, which may include bank accounts, real estate, investments, and personal belongings. They may need to secure and manage these assets during the probate process.
- Debt and tax settlement: The executor identifies and notifies creditors of the decedent's death, pays outstanding debts using estate funds, and handles any tax obligations. This includes filing final income tax returns for the deceased and paying estate taxes if applicable.
- Distribution of assets: After debts, taxes, and administrative expenses are paid, the executor distributes the remaining assets to the beneficiaries named in the will. This distribution must be done according to the terms of the will or according to state law if there is no valid will.
In Colorado, a personal representative named in a will generally has to work with the appropriate district court, such as the Denver Probate Court, and follow specific timelines for notices and filings. For that reason, you may want to consider whether the person you choose lives nearby, is organized, and is comfortable communicating with attorneys, financial institutions, and family members. A wills lawyer in Denver can walk you through the practical responsibilities and help you decide whether a family member, friend, or professional fiduciary is the best fit.
Naming your executor is perhaps the most important part of drafting your will because the person whom you select should be trustworthy, capable, and willing to carry out these functions. If they aren’t, legal issues and disputes can arise and unnecessarily complicate probate. Reach out to our wills attorneys in Denver if you wish to learn more about selecting an executor for your will.
Contact Our Denver Wills Attorneys Today
Denver Family Lawyers is here to provide the legal advice and services you need to draft a will that accounts for your estate planning goals. This important document is foundational to your estate plan, which means it must be carefully considered and drafted to help ensure its provisions can be carried out after your passing.
When you contact our office, we begin by learning about your family, your assets, and any concerns you have about how things will be handled in the future. We then outline the steps involved in creating a will in Colorado, from gathering information to signing the document with the required formalities. Throughout this process, we aim to make complex legal concepts understandable so you can make decisions that feel right for you and your loved ones.
When you want to leave nothing to chance, our legal services can help you draft the will that addresses everything you need it to address. With our assistance, you can feel more confident about your family’s future.
Ready to protect your family and your legacy with trusted Denver wills lawyers? Contact Denver Family Lawyers today to schedule a confidential consultation and start building your will with confidence!
Frequently Asked Questions
When Should I Update My Will?
