Denver Living Trust Lawyer

A living trust can be an important component of your estate planning. It may allow you to avoid probate and provide better control of your assets. Call Colorado Estate Matters, Ltd. at (303) 713-9147 and speak with a Denver living trust attorney to get a free consultation. We can help you determine if creating a living trust is the right estate planning step for you.

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Why Choose A Denver Living Trust Attorney?

We take a client-centric approach to the services we provide. Our experienced living trust lawyers strive to address the entire family dynamic to help ensure that you leave a positive and lasting legacy for your loved ones.
Our goal is to make the planning process as convenient as possible for our clients. At your request, we can visit you in your home or at a hospital, nursing home, or hospice.
Our Denver estate planning lawyer provides open, transparent communication to our clients and their beneficiaries. We believe in providing all the information our clients need to make the best possible decisions that lead to the best possible outcomes.

What Is a Living Trust?

A well-written living trust is a sophisticated legal instrument that works like a basket for your assets. The person making the trust (grantor) agrees to put his or her assets into the trust, stipulates how the trust will be managed, determines who will get the benefit of the property in the trust (beneficiaries), and appoints a trustee to manage the property according to trust stipulations. While you are alive and well, you can serve as the trustee of your own living trust.

Who Can Benefit from a Living Trust?

We take a comprehensive approach in reviewing your entire situation to determine if you need a living trust. This estate planning tool may be appropriate for you if you:

Have significant assets you want to protect;
Have real estate interests outside of the state;
Want to avoid probate and maintain privacy concerning your financial affairs;
Are concerned about estate taxes;
Want to provide for an adult disabled child or another beneficiary who receives government benefits;
Are concerned about the management of your affairs should you become mentally incapacitated;
Want to convey assets to charity.

How Can a Living Trust Help You Avoid Probate?

When you set up a living trust, you transfer your assets from your name to the name of the trust, over which you maintain control. Once the trust is established and contains all your assets, you no longer own them because they belong to the trust. Consequently, there is nothing left for the courts to control when you die or become incapacitated.

How Do You Maintain Control Over Your Assets with a Living Trust?

You make the rules when you establish a living trust. As trustee of your own trust, you can do anything you could have done before when the assets were still in your name, including buying or selling assets. You file the same tax returns, only in the name of the trust instead of your own name. As the living trust is revocable, you have the option to change or cancel it if you desire.

Connect with Our Denver Living Trust Lawyer

At our Colorado estate planning law firm, Colorado Estate Matters, Ltd., have more than 20 years of experience handling all matters of estate law for our clients. Contact us today at (303) 713-9147 for sound legal guidance in establishing a living trust and all your estate planning needs.

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.

What is probate in Colorado?

Probate in Colorado is the legal process by which a deceased person’s assets are distributed and their debts are paid under court supervision.

When is probate necessary in Colorado?

Probate is typically required when a person dies with assets solely in their name, and those assets exceed a certain value, or there’s any real estate. The threshold amount changes over time, so checking the current limits is essential.

How do I start the probate process in Colorado?

To initiate probate in Colorado, you need to determine if formal probate is required, and then file an Application or a Petition (as well as the necessary ancillary documents) with the appropriate court, depending on the circumstances.

What assets are subject to probate in Colorado?

Generally, assets that are solely owned by the deceased, such as real estate, bank accounts, and personal property, are subject to probate. Jointly owned assets with rights of survivorship, assets held in a trust, and assets with designated beneficiaries typically bypass probate.

How long does the probate process take in Colorado?

The duration of probate in Colorado can vary depending on the complexity of the estate and any disputes that may arise. Often it takes a year or more to complete.

What are the costs associated with probate in Colorado?

Probate costs in Colorado can include court fees, attorney fees, personal representative fees, and other administrative expenses. These costs can vary based on the size and complexity of the estate.

Can I avoid probate in Colorado?

Yes, there are strategies to avoid probate in Colorado, such as creating a revocable living trust, using beneficiary designations on assets like life insurance policies and retirement accounts, and jointly owning property with rights of survivorship.

What are the rights and responsibilities of a personal representative in Colorado?

The personal representative (executor or administrator) is responsible for managing the estate, paying certain debts and taxes, and distributing assets to beneficiaries in accordance with the law and the deceased person’s will (if one exists).

How are disputes handled in Colorado probate cases?

Disputes in Colorado probate cases can be resolved through mediation, negotiation, or litigation in court if necessary. Common disputes may involve the validity of the will, claims by creditors, or disagreements among beneficiaries.

Is estate tax a concern in Colorado probate?

Colorado does not have a state-level estate tax, but federal estate tax may apply to larger estates. It’s important to consider federal tax implications when dealing with an estate.

Is estate tax a concern in Colorado probate?

Colorado does not have a state-level estate tax, but federal estate tax may apply to larger estates. It’s important to consider federal tax implications when dealing with an estate.
It’s essential to consult with an attorney or legal professional experienced in Colorado probate law to get accurate and up-to-date information and guidance on your probate matter.