Helping Clients Develop Customized Wills
A will is the most commonly mentioned solution to protect assets when considering estate planning. If appropriately drafted, it is undoubtedly a robust option that can help honor our last wishes and remove some burdens from our loved ones’ lives after our passing.
Having the assistance of a knowledgeable and experienced estate planning lawyer can help make this document a reality. At Gebhardt Emerson Moodie Bonanno, LLC, our attorneys have helped clients from our Denver office design highly customizable strategies to meet each client’s needs and expectations. We are prepared to discuss a plan for you.
What To Expect From A Will
Colorado laws establish that anyone who owns any assets is eligible to write a will to designate who is to receive such property in the event of the owner’s passing. The other two requirements to meet are the testator (the person who elaborates the will) should be 18 years old, at the least, and should be mentally sound.
A will includes specific characteristics as follows:
- An individual should be the sole owner of property placed in a will.
- A will should go through the probate process, i.e., a court should validate this document before the beneficiaries can collect any assets.
- Individuals must update their wills in case of divorce or marriage.
- Heirs or potential beneficiaries may challenge a will if there is probable cause or good reasons to do so.
There is also another category known as “living will,” which refers to the tool specific to end-of-life decisions and procedures should an individual be unable to make decisions regarding medical treatment and life-prolonging actions, among others. If you decide to include this in your estate plan, you may be able to determine the treatment to follow and prevent any potential issues among your loved ones.
Although it may seem a straightforward resource, it is vital to have experienced guidance for drafting a solid will. This is where the attorneys at Gebhardt Emerson Moodie Bonanno, LLC, can help.