5 Reasons for Colorado Estate Planning

Without a comprehensive Colorado estate plan, the state of Colorado will control the following –

  1. Without a Colorado Living Trust or Colorado Will, Colorado law controls who receives your assets and when;
  2. Without a Living Trust or Financial Power of Attorney (General Power of Attorney), Colorado law will determine who handles your financial affairs when you are unable to do so;
  3. Without a Medical Power of Attorney or Living Will, a court may have to appoint a Guardian to make your medical or end of life decisions for you;
  4. Without a Will, Colorado law will determine who takes care of your minor or dependent children;
  5. Without trust provisions as part of your estate plan, your assets will be included in your heirs estates and potentially subject to an estate tax;

One bonus…without a properly drafted Colorado Trust as part of your estate plan, the assets your heirs receive will likely be subject to their creditor claims. 

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