Estate planning is an important step for everyone, but not every estate plan is the same. What you need as part of your plan depends on your needs, goals and individual situation. Some Colorado readers may find a simple will to be sufficient, but you may need additional protection in order to ensure the well-being of yourself and your loved ones.
If you are considering planning the future, like many others, you may feel somewhat intimidated at the concept of forming a strategy for the unknown. Life is full of surprises, some favorable and others perhaps less so, and having an estate plan in place to cover as many scenarios as possible could prove invaluable.
Have you recently lost a loved one? Do you have concerns about the state of his or her estate? If you do, you are not the first person to feel that way. Numerous Colorado residents have questioned their loved one's wills. If necessary, it is possible to challenge a will, though doing so may be challenging all in itself.
The transition from a paper society to digital has been gradual. Most people were slow to hop onto Facebook and other social media, figuring it was a fleeting invention where something new would come along and replace it. Then the kids started using it to share pictures of the grandchildren, and instant messaging offered easier communication with distant family.
When people talk about drafting a will, avoiding probate is usually a major discussion point or even a major reason to write a will in the first place. Wills are crucial for everyone because, without them, court makes all the decisions about how your estate is distributed after you pass away. Even with a will, probate may not have a desirable outcome. Here is an overview of the process and the reasons it may not be ideal.