What Is Probate?

Everyone should have a Will.  Except for "doing nothing"... your Last Will and Testament is the minimum amount of estate planning  you can do. A proper and professionally drawn Will is essential to achieve your successful and intended outcome. Do not leave it to amateurs, form sellers...and never, ever do it yourself.

Review your Last Will and Testament regularly.  Keep your Will up to date and able to meet your present and ever changing needs.

Divorce Affects a Will:

Divorce can affect certain portions of your Will. If you do nothing the results can be unwanted and unpredictable.  After your divorce you should redraw your Will as a first priority. 

Call Me: 720-202-6958

Parents With Young Children and Life Insurance:

A properly drawn Will is essential for parents having young children. Your Will can effectively provide for your children after you die.  A Will is a "life planning" document and is just as important as life insurance.  A properly drawn Will is an essential part of any Life Insurance strategy, making your insurance more productive.

The Will provided as part of my Life Planning 450 Will Package^tmsets up a Sprinkle Trust  for the benefit of your underage and disabled heirs (generally your children). I will review your financial and investment arrangements to help coordinate them with your new will.  Your Will controls the estate assets and the underage heir's assets are controlled by the sprinkle trust. Having the Sprinkle Trust manage your children's financial affairs is far superior than a court appointing a conservator. You will save tens of thousands of dollars in extra legal costs and preserve more money for your children.  Please see a detailed discussion on this subject by clicking here: 

The Sprinkle Trust And My Life Planning 450 Will Package

Your new Will can go a long way towards providing the guidance and direction your heirs and loved ones need after you're gone. My Life Planning 450 Will Package ^tm is an easy, economical and an effective way to direct the transfer of your property to your beneficiaries after you die.

Death is never a pleasant discussion. No one wants to contemplate their end of life.  However your death will come as certainly as you were born. It remains in your specific interest to plan for this part of your life as much as you would plan for the birth of your children, for their education and for your own retirement.  DENIAL IS NOT YOUR FRIEND.

Probate:  "The Big Ugly"

To become active, every Will requires "Probate".  Making your new Will takes relatively little time and trouble.  However, to become effective, your Will must be filed with the court for Probate after you die.

Probate is a legal proceeding that occurs following death. The person who died is known as the decedent.  A decedent who left a Will is known as a Testator (Testatrix, fm.)  A petition for Probate is filed in the court together with the decedent's Will. The petition requests the court to admit the Will, appoint a Personal Representative (someone who administers the decedent's "estate").  The "estate" consists of the property and debts of the decedent following death.

Generally speaking, during administration,the Personal Representative is responsible to:

1) pay the decedent's bills and taxes (from the estate's assets)
2) manage and/or sell the property as the Will directs, and
3) transfer the remaining assets to the decedent's beneficiaries according to the terms of the Will.

Probate is an old and long established method of transferring wealth following death. It comes from the English Common Law we adopted as a young nation. Over the years, we modified and changed the rules somewhat but the basics remain much the same. Like all legal proceedings, probate generates legal fees and expenses.  It can be quite expensive, costing several thousand dollars for even the most modest estate.

There Are Different Types of Wills:

There are a variety of types of Wills, each with their extent of provisions, complexity and scope of purpose. The proper Will depends upon your unique circumstances.  Just like a suit or a coat, your new Will is designed to "fit" your needs. You should always expect your needs to change. I will be happy to review your Will and advise you regarding changes and updates.

My Life Planning Will

 My Life Planning 450 Will Package :  The most Basic Will I offer, my Life Planning 450 Will Package ^tm goes well beyond a "simple will".  This is not a simple Will.  A simple will is limited to the basic provisions that nominate a Personal Representative, empower the Personal Representative to control the estate property and pay the bills.  It also sets forth "who gets what".  Just doing these rudimentary tasks fails to address several serious situations that may arise and could expose your estate to costly consequences. 

Just a NOTE to the reader: The firm considers a "Simple Will' to be so rudimentary, incomplete, lacking in scope, application and usefulness that I WILL NOT prepare, review nor consult with those determined to follow that misguided and myopic course. This applies to prepaid forms, computer generated kits and form vendor products.  Our basic advice (now remember, you're getting this for free here).... remains the same:

"Scrap it and let us do it for you right ...THE FIRST TIME.")  

My Life Planning 450 Will Package ^tm goes well beyond these rudimentary tasks and provides the following:

See My Life Planning 450 Will Package Article

I provide you with professionally drafted documents unique to your personal needs. You can rest assured that your new Will is right for you.

 

 

Having a poorly drawn Will is oftentimes worse than having no Will at all.  I am continually amazed by the  lackadaisical attitude many have towards their estate yet they easily spend thousands of dollars on entertainment and vacations.   Be wise and get your new Will done right...THE FIRST TIME. Enjoy yourself, having the peace of mind that your estate plan is properly in place and ready to serve you and your family when the time comes.  

 

 

Flat fee for My Life Planning 450 Will Package  tm :  $450.00 per person - $900.00 a couple

Call me or email for details. 

My Life Planning 450 Will Package ^tm  provides these additional important documents for no extra charge:

• General Durable Power of Attorney.  If you are incapacitated or otherwise unable, this document allows another to manage your business affairs, pay your bills and look after your property.

• Medical Power of Attorney. This document is essential to allow another to make medical decisions for you if you are unable. It contains HIPAA provisions. 

• Advance Medical Directive. See more information about this document below.

• Memorandum as to Distribution of Tangible Personal Property. (Personal Property Memo)                        
   

Complex Wills

The Complex Will: The Complex Will contains many of the features of a Basic Will, however the similarity ends there.  A Complex Will is designed to handle a larger estate. A Complex Will contains estate planning provisions and features much like those of a living trust. These provisions provide for the maximization of estate tax deductions and benefits to reduce or eliminate federal and state estate taxes. The provisions can include marital deductions, charitable deductions and other provisions unique  to your situation.  Estate taxes can represent a huge sum of money and may easily exceed hundreds of thousands of dollars. These provisions can have significant and important tax and legal implications and their usage should be applied with great care and skill.

A Complex Will carries significantly greater cost than a Life Planning Will.  It is designed to accomplish more and is much more involved than your basic Will.  Costs vary depending on the level of complexity and your unique situation.

When considering a Complex Will, I always encourage my clients to consider formal estate planning.  Formal estate planning is usually much cheaper in the long run and is designed to save tens of thousands of dollars in legal bills stemming from probate and conservator proceedings.  However, in some cases, a Will is the better choice. See my discussion on estate planning.

All Complex Wills come with the following documents:

• Will

• Medical Power of Attorney

• General Durable Power of Attorney  (for business purposes)

• Advance Medical Directive (Living Will)

• Memorandum as to Distribution of Tangible Personal Property

• I provide a CD with PDF files of your scanned original documents, the signed originals and copies in a convenient binder format.

In order to accommodate your needs, once hired, I can meet at your home, office, assisted living center, hospital room or other location. Call to make arrangements.

Call Me: 720-202-6958

Living Wills, also known as Advance Medical Directives

Some Information About Advance Medical Directives or "Living Wills".

A Living Will  (Advance Medical Directive) is a separate document that, during your last moments of life, acts as your declaration to the world regarding your care and medical treatment.   Having a Living Will eliminates much uncertainty at a time when you are unable to speak for yourself. It tells the world how you want to be treated.

So, take advantage of the law and make your decision known. Avoid the trials and tribulations your heirs, loved ones, guardians or others may  face in determining your future should your intent remain unstated.

The Terri Schiavo case is a poignant and tragic example of what can happen without a living will. Regardless of your political views, the case sets forth a strong lesson that a Living Will should be in place before you face that situation.

A Living Will is very easy to create and is a standard document included in all of my Wills, Trusts and Estate Plans.  Also known as a "Living Will", it is a guidepost to others for the scope, style and nature of your care.

I offer this service as part of my Wills and Estate Planning services.  However, if you need just an Advance Medical Directive and/or a Medical Power of Attorney, call me and let me review your situation. 

Call today!

Jerold R. Gilbert is a Denver Wills Lawyer, a Denver Probate Attorney practicing throughout Colorado with several office locations in the Front Range. 

Jerold R. Gilbert, Esq. 

720-202-6958

jgilbert@jeroldgilbert.com 

• The Firm has many convenient meeting locations throughout the Front Range (one near you). I want to make it as easy  for you as possible ....  help you save travel costs, childcare costs and time away from work. Call or email for details and to set up an appointment.   (By Appointment Only).

  
  
  

   

  

   

  "Have You Made Your Will?"  

Contact Information

Jerold R. Gilbert, Esq.
9474 Tammy Lane
Parker, CO 80134

720-202-6958 office

 

jgilbert@jeroldgilbert.com