Estate Planning

Separate from the angst one feels discussing their own disability and/or death, estate planning is often put off for various reasons. Many people believe they don't have an "estate" or think their estate isn't substantial enough to warrant planning. Others feel they're too young to consider it.  

But death or even incapacity due to accident or debilitating disease can occur at any age, and making plans now can protect your property and income for the ultimate benefit of your loved ones. Today’s estate plan contemplates not just how to divide property at your death, but also (1) how you direct your income and assets to be managed if you become incapacitated; (2) how to avoid capital gains and other income-tax issues (and, for the very large estates, death-tax issues); (3) whether, when and how to make distributions to a beneficiary so as to protect their inheritance from either themselves or from a soon-to-be ex-spouse or potential creditor; (4) and more!

Estate planning is about more than just creating a will or living trust. While a will is a fundamental legal document that specifies your instructions for distributing property and caring for minor children, a comprehensive estate plan goes much further. It encompasses strategies to minimize taxes, fees, and court costs, providing for you and your spouse/dependent children if you cannot manage your financial affairs, putting medical directives in place, and ensuring that your heirs receive the maximum benefit from your estate.

• Incapacity Planning: Many of us will experience some form of incapacity prior to our passing. But you can plan today as to who you want to make decisions on your behalf as to your property, income, managing your health care, and long-term care.   
• Asset Protection and Distribution: Clearly outline how your assets should be distributed, preventing potential disputes among heirs; as well as whether to continue to protect their inheritance from creditors, soon-to-be ex-spouses or even a subsequent spouse and step-children.
• Income- and Estate-Tax Efficiency: Implement strategies to reduce death taxes (for larger estates over $13.6 million) and income taxes for moderate estates, preserving more of your wealth for your beneficiaries.
• Healthcare Directives: Ensure your medical wishes are honored with living wills and healthcare powers of attorney.
• Guardianship: Appoint guardians for minor children to ensure they are cared for by trusted individuals.
• Charitable Giving: Include provisions for donating to charities and organizations you care about and receive advice as to the most tax-efficient assets to use for such purposes.
• Business Succession: Plan for the smooth transition of business ownership to another generation, key employees, or even a third party to in ways that achieve your goals for legacy and community.
• Probate Avoidance: Think of probate as a sort of “title cleansing process” where the title of an asset owned by a decedent must now be transferred over to someone else. In Colorado, probate is not overly expensive, but it is public and results in months of delays. There are numerous methods to avoid probate, and we can explain the advantages and consequences of each for your specific situation.

At Gilbertson Law Office, we understand that each client's situation is as unique as the personalities of the family members, the diversity of the assets, and the complexity of each family’s income- and estate-tax concerns. Our dedicated legal staff with almost 50 years combined experience will analyze, educate and advise you in developing a comprehensive estate plan tailored to your specific needs and wishes. Our comprehensive services are designed to provide peace of mind, knowing that your estate will be managed according to your desires.

We offer personalized estate planning services at affordable rates. Our team takes a “deep dive” to understand your goals and concerns, ensuring that your estate plan reflects your values, legacy goals and priorities. Whether you need a simple will or a more complex trust arrangement, we have the expertise to guide you through the process.

Don't wait until it's too late. Secure your legacy and provide for your loved ones by starting your estate planning today. Contact Gilbertson Law Office to schedule a consultation and learn more about how we can help you create a comprehensive estate plan that meets your needs.

However, if your child, grandchild or other loved one with a physical, cognitive or behavioral disability may require a supplemental needs trust, we will be happy to help you prepare for and protect them within your own estate plan design.

By choosing Gilbertson Law Office, you’re choosing a dedicated partner committed to protecting your legacy and ensuring your wishes are honored. Reach out to us today and take the first step toward securing your future.