Berthoud, CO Estate Planning
You can begin planning your estate as early as 18 years old when you open a bank account and need to assign a beneficiary or when you have property that you would want to leave to a specific person. But if you did not start that early, that’s okay. It is time to get started now. Brady McFarland & Lord, LLC has an experienced Berthoud, CO, estate planning attorney ready to work with you through every step of the process.
Why Choose Brady McFarland & Lord, LLC?
- We rely on proven processes to effectively plan estates in a way that provides peace of mind to our clients and their families.
- We are here for the long haul, from your initial estate plan to all future reviews and updates.
- Our firm is a medium size, large enough to assist you with complex legal matters but small enough to provide personal service to each of our clients.
- We employ modern technology without losing the personal touch that our clients count on.
Why Estate Plan?
sdafEstate planning does for your loved ones. A few more benefits of estate planning are listed below:
- Providing for those in your care who are not able to care for themselves, such as your children or dependents with special needs
- Planning for end-of-life decisions so your loved ones are not burdened with those choices and your wishes are adhered to
- Avoiding the lengthy probate process
- Planning ahead can help your loved ones minimize and even avoid unnecessary taxes.
- Ensuring that your estate is protected from creditors
- Allowing yourself control over how your assets are distributed
- Ensure that your values and beliefs are demonstrated in the way that your legacy is preserved
There are, of course, other reasons to plan your estate. Contact an estate planning attorney in Berthoud, CO, if you have questions. Our firm understands preserving your wealth, providing for your minor children or dependents, and minimizing your taxes in a way that provides your family with peace of mind.
Comprehensive Estate Planning
For a straightforward estate plan, we suggest four common documents for all estates. Your estate planning lawyer in Berthoud, CO, can determine if there are others.
You should take measures to ensure that your specific estate plan encompasses your needs.
The following documents are crucial to an effective estate plan:
- Last will & testament: This is the basis for any estate plan. It will designate guardians and care instructions for minor children and special needs dependents and outline the division of assets.
- Living will and health care power of attorney: This can also be referred to as advanced directives. If you become incapacitated, your instructions for care, including whether or not you want to be resuscitated, how your pain will be managed, and any wishes you have about your care, will be covered in this document.
- Power of attorney: Advanced planning allows you to thoughtfully choose who will have the legal right to act on your behalf if you become incapacitated.
- Trust: If a trust is structured correctly, it can help the beneficiary to avoid some taxes. A trust allows a trustee to hold assets for one or more beneficiaries with the terms of the trust outlined in a document known as a trust instrument.
There are four cornerstones upon which an effective estate is planned. These include wealth management and preservation, a plan for your dependents, tax minimization, and legacy planning. Legacy planning may mean continued charitable donations or a one-time contribution to your chosen charity.
Begin Your Berthoud, CO, Estate Plan Now
Your Berthoud, CO, estate planning lawyer is ready to create an estate plan that works for you and your family. Whether you already have a plan in place and want to review and update it, or if you are starting from scratch, the qualified legal team at Brady McFarland & Lord, LLC, has the experience to design a plan that encompasses all aspects of how you want to manage your estate.
