Three Key Considerations As You Plan For Your Future
Stone Law, LLC
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Jun 28, 2022
Colorado - Denver Metro
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What happens when I can no longer make medical and financial decisions.
If the power to make decisions is ever not your own, ensure you have nominated the right people through Powers of Attorney, making them legally responsible for acting on your behalf. Otherwise, court proceedings determine who makes decisions for you. Understanding how the process works and your rights and responsibilities is critical.
Do I need an estate plan? Everyone needs proper documentation in place sharing your wishes. How do you want assets distributed? Are there special considerations, disabilities, or beneficiaries needing more support? With the right planning many of these can be addressed.
Is probate avoidable? Probate is the court procedure by which assets are transferred after death to those named in a Will, or to people listed in Colorado’s inheritance statutes. The proceedings are public and can take 8 to 12 months or more, even in the simplest of cases. Trust planning can help avoid probate,
simplifying the process for your loved ones.
Editor’s Note: This article was submitted by Andrew P. Stone, Esq. Andrew is the principal attorney with Stone Law, LLC and may be reached at 877-897-6591 or by email at andrew@stonelawllc.com
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