My clients often tell me that they intended to get their estate plan done sooner, but . . .
A. Your estate plan consists of all the tools by which you communicate your directions and wishes if you become incapacitated or die.
B. The core elements are:
A. Your will is a written document in which you direct:
A. “Nonprobate” assets are assets controlled by a deed or separate contractual arrangement and not by your will.
B. Be sure you review these items with your estate planning attorney:
A. Small estate:
We see a lot of advertising telling us that we must "avoid probate." That may be true in many states, but probate in Colorado is much more straightforward, and probate court files are not available to the general public. "Avoiding probate” need not be a primary concern for most people.
However, a revocable trust is often desirable for other reasons, such as: