Practical, Economical Estate Planning Lawyer
Estate Planning is about having the right legal documents in place to prepare for the possibility of mental incapacity, or death. The essential documents for execution of the estate plan include deeds, the last will and testament, living will, financial power of attorney, medical power of attorney, and sometimes trusts.
Who Needs Estate Planning?
The following comes from a column by David McPherson for ABC News:
Imagine you’re a young adult, unmarried but living with your partner in a home the two of you bought together. Two months before the wedding, you’re critically injured in an automobile accident and later die.
Whom do the doctors update about your condition? Who decides the critical questions about your care? And what happens to the house you bought with the person you expected to share a long life with?
These are all reasons why just about every adult, no matter their age or family status, needs basic estate-planning documents that dictate their wishes if they die or become incapacitated.
The passage of the Health Insurance Portability and Accountability Act in 1996 set tight restrictions on the release of medical information by health care providers to anyone, including family members, if you’re an adult. That’s why it’s imperative to have an authorization form that outlines whom you will allow a health care provider to share your private medical information with.
The attorney does not bill for travel time. A ½ hour telephone consultation is free of charge.
- Advance Health Care Directive or Living Will: $250
- Beneficiary Deed to avoid probate and retain ownership, responsibility, and control over your Colorado property while you’re alive. In the event of your death, ownership will automatically transfer without probate to the beneficiary you name: $250 plus recording fee
- Prenuptial or Postnuptial Agreement: $1,000. Important for adults in second marriages who want to protect children from their prior marriage.
- Power of Attorney for finances and health care decisions:. $250 individual, $400 couple
- Will (including will with guardianship and trust provisions for children): $700 individual; $900 couple
- Temporary Guardianship for Children while parents are absent: $150
- Package including Powers of Attorney, Simple Will, HIPAA (health care information) Disclosure Authorization, and Advance Health Care Directive: $ 800 individual, $1,200 couple.
Home visits are available by a Denver estate planning attorney.
TIP: Under the “reformation rule” adopted by the Colorado General Assembly, a court may reform or rewrite the terms of a will, trust, or even a life insurance policy, if it can be proven by clear and convincing evidence that the document does not accurately reflect the author’s intent. C.R.S. sec. 15-11-806.