Estate Planning in Colorado

Will

A will is the central part of any strategy for estate planning in Colorado and elsewhere in the country. This document allows you to direct who will receive various assets of your estate and who manages your estate. A will also allows you to name a legal guardian for any children who are still minors. Based on this information, a will may be the most important legal document you ever sign. Without a will, state laws and a judge may decide who receives your property and cares for your children, respectively. If you want to make this vital decision sooner rather than later, you will need to set up your will/estate plan as soon as possible with an estate tax attorney in Colorado.

Financial Power of Attorney

Financial power of attorney allows you to name the person who makes all of your financial decisions currently and/or during a time of incapacity (durable). By specifically picking someone today to make these decisions, you help eliminate controversy and stress in the future. You also avoid the costly and lengthy legal process of having a court make these decisions.

Medical Power of Attorney

Medical power of attorney appoints an individual to make medical decisions on your behalf if you cannot make these decisions for yourself. If you don’t have a medical power of attorney document (also sometimes referred to as a “health care proxy”), the decision automatically goes to your spouse. If you are unmarried, then the decision goes to adult children, parents, or other parties that a judge deems appropriate. Plan today so you, and not anyone else, can make the right decisions concerning your future healthcare in Colorado.

HIPAA Release

Congress promulgated the Health Insurance Portability and Accountability Act, also known as HIPAA, in 1996 to protect your private health information. The act prohibits healthcare providers from releasing your healthcare information unless you have provided an executed HIPAA release form. Without this form, your healthcare providers are legally prohibited from disclosing your medical information to anyone who is not directly involved in your care. Make sure you have all the necessary legal forms in your estate plan in Colorado now to avoid potential problems in the future.

Organ Donation

Many clients say they have indicated their desire to donate organs via the symbol on their driver’s license. The referenced symbol evidences a desire. The surviving family, however, may still make the ultimate determination. By signing a specific document memorializing your desire, you clearly and legally evidence your intent. The donor has the ability to decide for what purpose and which organs to apply the donation request.

There are many details to each document, and many details regarding your overall estate, including taxes. Being prepared and educated, you can make your wishes known. Talking to your loved ones also remains important in the planning process. Please do not delay in setting an appointment with our office so that we can discuss these important issues and create a detailed, yet affordable, estate plan for you and your family members.