Each state has its own statutes and requirements for wills. It pays to know your state's requirements, or you can utilize the expertise of a Colorado estate attorney when drawing up your last will and testament. An illegitimate will could end up in probate court despite your best efforts.
People don't really like thinking about wills in the first place. Doing so is often painful and requires asking yourself a lot of difficult questions.
Inheritance theft is something that can happen right under your nose. You may have been told time and again that you're going to inherit something only to find out that when your parent, grandparent or other relative dies that whatever you were promised is gone or the bank accounts are nearly emptied.
Earlier this year, we took a look at why it's important to create a will and do your estate planning early on, while you’re still in good health. Now, we’ll delve into state-specific information you should know about setting up a will in Colorado.
At first, the term "living will" might sound like an oxymoron. If a will is a document intended for after you die, then what in the world is a living will?
In our prior post, we highlighted the importance of taking time have clear direction in a will to avoid inheritance disputes. This is because in times of sorrow, some may develop a sense of entitlement that may lead to disappointment when finally learning the contents of a will.
In our last post, we talked about the need to create an estate plan, and how many people are adverse to the idea of getting started. This is understandable on the one hand, but on the other, your estate plan is a vital part of your life (and eventual death). Going without a solidified and legally compliant estate plan is dangerous, and it could leave your beneficiaries and family members without a clear path for acquiring family assets.
Writing your will is one of the most important parts of estate planning in Colorado. This invaluable document acts as a set of master instructions for your loved ones at the time of your passing. It can educate them about where you would like your money to go, where you wish for your possessions to end up and who should care for dependents if you have any. So, what should you know about writing a will?
Some people in Colorado believe that disinheriting their children is cold and callous. But, there are legitimate reasons why a person may decide to do so. According to CNBC.com, some parents disinherit their kids because there are estrangement issues, they may not have a good relationship with them or their children are already financially well off.
One of the most critical parts of putting together a will in Colorado is selecting an executor who understands your intentions and desires, and is committed to allocating your possessions in conjunction with what you have recorded. Being proactive about preparing your will can provide security for your loved ones and peace of mind for you, and is facilitated by an executor who takes your wishes seriously.