Estate Planning Guide - Colorado Estate Planning Goals

What do you mean by “Estate Planning”?

There is much more to Colorado Estate Planning than merely having a Will. A good estate plan incorporates five objectives:

1. Controlling your property while you are alive;
2. Taking care of yourself and your loved ones if you become disabled;
3. Giving what you have to who you want, when you want and the way you want;
4. Whenever possible, save tax dollars, professional fees and court costs; and
5. Protecting your heirs from potential predators and creditors.

The process of developing a sound estate plan of your own begins with understanding these basic objectives common to all good estate plans. Our two-plus decades of experience working with thousands of clients have taught us that an estate plan is sound only if it helps one accomplish each of these objectives as it applies to their circumstance.

Without a good estate plan, you and your family may lose control over your property, suffer through unnecessary court proceedings, and pay excessive taxes. The lack of an estate plan may also deprive your family of many legal protections otherwise available and also deprive them of the opportunity to receive from you a lasting legacy designed to bring your family closer together. Fortunately, all of these ills can be easily avoided by implementing a sound estate plan.

For more information regarding the documents needed to accomplish these objectives, please read our Estate Planning Guides titled “The Five Primary Colorado Estate Planning Documents” and “The Differences Between a Colorado Will and a Colorado Living Trust.”