Frequently Asked Questions
Finding Inspiration in Every Turn
Estate Planning
Estate Planning
What is a Will?
A will is a legal document that specifies how you want your property distributed after your death and can name legal guardians for minor children. In Colorado, a valid will must meet certain legal requirements to be enforceable.
What is a Power of Attorney?
A power of attorney is a legal document in which you (the principal) authorize another person (the agent or attorney-in-fact) to act on your behalf in financial, legal or other matters.
What is a Living Will?
A Living Will (also known as Advanced Directive) is a legal document that tells doctors what medical care you do or do not want if you become unable to communicate those decisions yourself. It only applies to end-of-life or critical medical situations. It only applies if you are incapacitated and two physicians determine you cannot make or express medical decisions.
What is a Revocable Living Trust?
A revocable living trust is an estate planning tool you create while you're alive that allows you to manage your assets and decide how they will be distributed after your death. Unlike an irrevocable trust, you can change it, update it, or cancel it at any time. It is important if you have a trust to ensure all your assets are titled in the name of the trust (a/k/a funded) if you wish to avoid probate.