Learn more about wills, trusts, powers of attorney, living wills, etc. The list goes on and on. What is right for you? What do you need? How much is a reasonable amount to pay? Find out here!
Part 2 of our second Fireside Chat! Cristyn and Jeff talk more about the first year of law school and what to expect.
Proud to release our second Fireside Chat! Last time was about how to get into law school. This time, Cristyn and Jeff talk about what you should expect for your first year! Here’s part 1, but stay tuned for part 2!
There are tons of mistakes to makes and many potholes to avoid when attempting to create a solid estate plan in Colorado. We are going to go over the top 7 that we see in our Northglenn-based practice.
Have questions on any of these? Give us a call at 720-547-2319 in Northglenn or 719-249-2785 in Colorado Springs. Our lawyers aim to help!
Avoid These Critical Mistakes When Drafting A Will
Here’s a list of the most common mistakes people make when creating an estate plan:
- Only having a will: A lot of individuals think that simply having a will that says where they want things to go will prevent court and stop probate. This is not true! If all you have is a will, there is a very high chance you will send your family to court, costing them thousands of dollars in legal fees even if they are not fighting about anything. Avoiding probate requires sophisticated planning that a simple will cannot provide on its own.
- Naming multiple people to be in charge: This is a very common mistake. Many people will name all of their children to be Personal Representative (also known as Executor) at the same time. This is a costly mistake that can lead to more fights down the road. If you have more than one person in charge, there is a much higher probability they will disagree on things. This leads to court and a longer, drawn out probate process as well.
- Failing to name backups. As an opposite to the previous mistake, many people will simply add one person as their power of attorney, personal representative, or other “power person.” This means that if that person passes away or can’t serve as your power person because they are incapacitated or out of town, you have no one to act. Then a judge has to come in, and we are in an expensive court hearing. Naming backup “power people” solves this problem.
- Doing your plan online: While we are biased because we are lawyers who draft wills, doing a plan online is a very bad idea. These plans can’t be witnessed or notarized for you, so when you receive them in the mail or print them off, they are not legally binding documents. Further, you don’t get to speak with an attorney who specializes in estate planning, you don’t really know if the plan will work until it is too late, and you don’t get the peace of mind you deserve when you do things online.
- Transferring property yourself: Don’t draft quitclaim or special warranty deeds by yourself! Your house cost hundreds of thousands of dollars. It’s worth a few hundred dollars to have an attorney draft a proper deed to protect that value. We have seen so many people lose title to their home because they drafted a deed incorrectly. It then costs thousands of dollars to fix the problem. Do it right the first time and give an estate planning attorney a call.
- Creating irrevocable trusts: While irrevocable trusts have their place in certain plans, they are very dangerous documents. They should never, never, ever be done without consulting with a lawyer, and most times still not completed after that.
- Not talking with your family: This one is critical. Do not keep your plan a secret. It’s that simple. Have the uncomfortable meeting with your family, we promise it’s not as bad as you think it is, plus its an excuse to get everyone together. The more people who know what is supposed to happen when you pass, the harder it is to fight about. Surprises create fights, period.
Want To Learn More About The Many Other Mistakes That Can Be Made When Creating A Plan?
Contact our estate planning attorneys today. We serve Colorado Springs and Northglenn/Thornton.
End-of-Life Doulas and Death Doulas in Colorado
The following information was graciously provided by Tawnya, an End-of-Life Doula at Dear Departures.
What is an End-of-Life Doula (EOLD)? EOLDs provide non-medical support to the dying and their circle, working alongside hospice (not in lieu of it.) Services may include but are not limited to: caregiving, respite, legacy projects, life review, care planning, vigil planning, sitting vigil, and bereavement support.
What is a Home Funeral Guide (HFG)? Most people don’t know that it is legal in all fifty states to have a viewing/wake in the privacy and comfort of their own home. Home Funeral Guides teach families how to care for their dead, within their comfort level, rather than outsourcing that care to a funeral establishment. The benefits of home funerals include: privacy, intimacy, familiarity, cost-savings, and an abundance of time, as well as the ability to be hands-on, which can be therapeutic for the bereaved. Home funerals are, at their core, a reclamation of families’ rights.
What is a Life-Cycle Celebrant? Life-Cycle Celebrants are specially trained to craft and officiate custom ceremonies for events like weddings, baby blessings, and in the case of Dear Departures’ specialty, funerals/memorials/celebrations-of-life. One of our favorite offerings, known as living funerals or “exit-parties” are events where the dying person is the still-living guest of honor at their very own send-off! We also offer pet-death ceremonies. Great time and care are taken during our process to gather stories that are then woven into a personalized ceremony, to create an event true to who the honoree is, or was, in life!
Services an End-of-Life Doula Can Provide
There are many exceptionally helpful things a Doula can do for you and your family, including:
- End-of life care, planning, and legacy projects as an added layer to hospice.
- Support families who choose not to hire the services of a funeral home, by opting for a family-directed home funeral (wake/viewing.)
- Craft custom ceremony for funerals/memorials/celebrations-of-life whether a family is using a funeral home, or not.
- Offer educational events on topics of death and dying, within the community.
If you have questions for Tawnya, reach out to her at email@example.com or call her at 719-430-5272!
New Laws in Colorado Due to COVID-19
COVID-19 has made the world an uncertain place, to say the least. It even has our lawmakers changing procedures and statutes that have been on the books for decades. At Althaus Law, we want to keep you up to speed on the latest changes, so you can make informed decisions when it comes to protecting your family and creating your will, trust, or other estate planning documents.
You can always contact our sophisticated lawyers if you have any planning questions during the pandemic around items like:
- How do I draft a will?
- Should I do my plan online?
- What’s the difference between a will and a trust?
- Do I need powers of attorney?
- Who makes decisions for me if I’m on a ventilator?
New Rule 91 and 92 in Colorado
Alright, this part is going to get technical, but I promise to summarize for you. Don’t fall asleep!
Rule 91 and Rule 92 under the Colorado Rules for Probate Procedure are now updated to allow remote witnessing of specific documents and remote attestation of wills. There are very specific rules that must be followed, however. It is not as simple as getting on a Zoom call or a Google Meet and signing while people on the same video conference watch. Some of these requirements include:
- There must still be ONE original will or estate planning document. This means it has to be mailed around to people.
- These rules are not permanent, so this will not be allowed in times where social distancing is not required.
- Remote witnessing of documents requires an attorney to be involved.
- If these wills are completed properly, they still cannot be submitted for an informal probate when the person making the will passes away. The process must be formal.
So What Does All This Mean?
To summarize things simply, Colorado is now allowing “remote notarization” and “remote witnessing” of certain documents. However, the rules are very specific and hard to complete successfully. These rules also require that an attorney be involved, so the do-it-yourself option is off the table.
Even if individuals do complete the process remotely, it is still recommended to complete the plan in person when things calm down since the old laws will go back into play eventually.
When in doubt, give us a call at 720-340-2783! We can setup a free initial consultation to go over your concerns and make sure you get the understanding you need.
Stay healthy out there.