The right estate plan can preserve your wishes for the future while protecting your loved ones’ interests and possibly even minimizing the need for probate.
Of course, the “right” estate plan can vary from situation to situation, depending on the details of an estate (among other things). That being stated the following are among the more common estate planning mistakes that tend to impact the efficacy and protections of these plans.
Hinging an entire estate plan on a will alone – Wills can be the backbones of estate plans, but they are limited in scope, meaning they do not cover all situations or estate planning needs.
In fact, a will is not going to provide details about what should happen if, instead of passing away, you end up incapacitated or in a coma. As a result, it’s best to build up the backbone of the estate plan (i.e., the will) with other essential components, such as powers of attorney.
When you are ready to develop a comprehensive estate plan, contact a Denver estate planning attorney at Phillips & Blow, PC.
We can discuss your estate planning needs and different options during our consultation. To schedule this meeting, call us at (303) 713-9147 or email us using the contact form at the top of this page.
From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village, Englewood, Centennial, Wheat Ridge, Golden and Arvada.