Legal help for living trusts & Wills
UNDERSTANDING LIVING TRUSTS AND WILLS
Many people put off thinking about establishing a living trust or creating a will until it is too late. However, a will or trust can save your family a great deal of time and confusion should the unexpected occur.
Simply put, wills and trusts give you control over how your assets are distributed when you die. Both documents have numerous advantages and prevent the State of Colorado from choosing how to divide up your property after your death.
Benefits of living trusts and wills include but are not limited to:
- Saving money
- Avoiding probate on your assets
- Protecting your privacy with regards to financial affairs
- Having control over what happens with your property
- Providing security for your family and loved ones
- Helping avoid disputes over your inheritance
Both living trusts and wills are formal written documents, but there are key differences between the two.
A will designates beneficiaries of your property at the time of death. It can also list whom you have appointed to serve as a legal guardian for any minor children that you have. A will must be signed and witnessed, but it can be amended at any time during your life.
A living trust allows you to place assets into it throughout your lifetime. Upon death, these assets are then transferred to the beneficiaries that you have designated. In general, living trusts are more expensive than wills because they must be actively managed throughout your lifetime.
It is advisable that you have a lawyer assist you in preparing these documents to ensure they are legally binding and everything is in order.
PREPARATION IS KEY IN PREPARING A LIVING TRUST OR WILL
Success matters when establishing living trusts and wills, and the attorneys at The Vaughn Law Offices have extensive experience in estate planning, including formulating these types of documents. Our experienced estate planning attorneys will work closely with you to ensure your final wishes are clearly identified and legally binding, and can help you with any difficult decisions regarding your estate.
You can have peace of mind knowing that your assets are protected and your chosen beneficiaries will be provided for in the future. Whatever your needs may be, we would be happy to discuss them during an initial consultation.
Since 2001, the attorneys at The Vaughn Law Offices have been providing legal assistance to clients involved in estate and probate matters in the Denver area.
When success matters, contact us at 303-622-5508 and tell us what you need.
Justin Vaughn on Legacy Planning
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