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650 S. Cherry Street, Suite 100, Denver, CO 80246
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44 Cook St., Suite 100, Denver, CO 80206
2779 Crossroads Boulevard, Grand Junction, CO 81506
421 S. Tejon Street, Suite 100, Colorado Springs, CO 80903
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2000 S Colorado Blvd, Tower 2, Suite 1050, Denver, CO 80222
1801 California St., Suite 2400, Denver, CO 80202
Also known as a last will and testament, a will is a legal document that outlines an individual’s wishes upon their death. A will serves as a fundamental component of estate planning and must meet certain requirements to be legally valid. Common aspects of a will include:
Having a will allows you to clearly list out how you would like your estate managed in the event of your death and can provide peace of mind to you and your loved ones. Aside from determining distribution of assets and guardianship of minor children, a will can help avoid family disputes and protect unmarried partners or non-traditional families. Creating a will offers you control and simplifies the process for your loved ones during a difficult time.
Wills are one of the most iconic documents associated with lawyers. An estate planning attorney can assist you in working through the process, ensuring your will is legally valid and reflects your wishes. Common considerations when creating a will can include:
Yes. As your life changes, so do potential beneficiaries and heirs. Therefore, it is crucial to keep your will up to date. If you do not keep your last will and testament current, it may not reflect your wishes. If the change is minor, your will can be updated with an amendment, also known as a codicil. However, if you have significant changes, the best approach may be revoking your will and creating a new one.
In general, you can make a simple will on your own without an attorney. However, there are several benefits to consulting with an experienced wills lawyer. A wills lawyer can provide options for how to handle property, real estate, and assets after death. A wills attorney can also develop an estate plan to provide for your family and loved ones without the unnecessary delays and costs of going through intestacy.
The basic requirements for a will generally include the mental capacity to understand the nature of a will, testimonial intent to have the will take effect, the will is in writing, and signed by the testator before witnesses. Different states may have other specific requirements to establish a will. One of the benefits of using an experienced lawyer is that the probate attorney understands the legal requirements to prepare a will and make sure that it will be enforced.
If there is no will or the will is not enforceable, the decedent's estate may go through probate and property will be distributed according to the state's intestate distribution laws. If someone dies intestate, their property will be distributed to their relatives. If there are no relatives, the property will go to the state.
When you are ready to prepare a will, it can be helpful to have all the necessary information and documentation. Bringing all the information with you to your meeting with a wills attorney can help the process go more smoothly. Things to bring to an attorney for a will include:
It may be of some comfort to know that you can always make changes to your will. You may have a significant life event that changes your estate planning wishes, including a new marriage, the birth of a child, or the death of a loved one. Talk to your estate planning attorney about how you can make changes to your will.
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