Estate Planning Frequently Asked Questions
At the law offices of Jolein A. Harro, P.C., our lawyers are dedicated to helping you with all of your estate planning needs. For more than 30 years, we have helped many individuals and families in Littleton, Denver, and throughout Colorado protect their estate and goals.
It is not uncommon for our clients to have questions about estate planning. While every matter needs to be carefully evaluated and addressed on its own, below are common questions and answers to help you learn more about the estate planning process.
Do I need a will? Yes. Every person should have a will in place. This is true for younger couples with no high-assets to families with multimillion-dollar estates.
What happens if I die without a will? Your estate will be distributed according to intestacy laws in Colorado. This could result in people you care about not receiving assets or heirlooms you wished to give to them.
Do I need to have a general power of attorney? Yes. This is beneficial to have in case you are incapacitated. A general power of attorney will make sure someone you trust is making decisions on your behalf regarding medical and financial issues.
Who is a beneficiary? A beneficiary is someone who receives assets or property from your will, life insurance policy or other legal contract.
What is a trustee? A trustee is the person named to manage property in your trust. They will also be responsible for distributing assets or property in accordance with the terms of the trust.
What is probate? Probate is a legal process that dictates the distribution of a will. It also appoints an executor (or person) who will be responsible for administering the terms of the will and distributing the assets to beneficiaries.
Why do I need a lawyer? A lawyer will make sure your best interests are protected and that all of your concerns are addressed. An experienced estate planning lawyer can help you learn about all available options to protect your family and preserve your assets.
At our law firm, we get to know you and learn about your specific situation to help you create your estate plan. We know the complex issues that can arise in poorly drafted estate plans so we work with you to develop a plan that addresses your needs now and in the future.