Best Consumer Protection Lawyers in Wheat Ridge, CO

Estate Plans Are Not Just For The Wealthy Many Coloradans assume that if they have not acquired massive amounts of wealth, they have little need for an estate plan. But you don’t need to own a mansion, have a collection of vintage cars or even be considered wealthy to consider estate planning. Simply put, your estate is comprised of everything you own when you die. That includes your home and all of your personal property, plus the money in your bank accounts, your investments, retirement plan and any interests you have in a family business. When you signed up for life and health insurance benefits, you were required to designate a beneficiary, who will receive those benefits in the event that you die. But who gets everything else must be spelled out in a will or living trust. If you die without designating beneficiaries for these items, Colorado law will dictate how these assets and property are distributed. Some newer laws rank inheritors, giving all your belongings to your spouse first, followed by children, then your parents and siblings. But do you really want the state to decide who gets your most beloved possessions? If not, there’s no time like the present to choose for yourself who gets them. In fact, some financial and estate planning experts say going through the estate planning process is a fitting rite of passage for someone celebrating his or her 18th birthday. Even if they have very few assets, young adults can benefit by getting into the habi...