Quality Estate Planning
Bauer Law provides a wide range of estate planning services, adjusted to meet each individual’s needs. At a free, confidential consultation, we will discuss various estate planning techniques. Below are many estate planning options.
This establishes how you want things handled after your death. You can nominate who you want to handle all your affairs, the personal representative (executor) of your estate. You can nominate a guardian to care for and raise your minor children. You can specify how your assets will be devised and how your taxes should be paid. Everyone should have a Will, but be certain it is drafted by a qualified attorney or it can cause more damage than good to your loved ones.
This allows you to specify who you want to receive your personal tangible items upon your death, such as a watch or baseball card collection.
This holds assets for certain beneficiaries and/or certain purposes. For example, parents of minor children, can specify that a trust be created if the parents die prior to their minor children reaching the age of majority. The trust is funded by the parent’s assets, life insurance, etc. The parents nominate a trustee (generally the same person you nominated to be the guardian) to pull funds from this trust to care for the minor children. This is just one example, there are various types of trusts to accommodate many different scenarios.
Durable Power of Attorney
This allows you to nominate someone to handle your financial affairs, should you become incapacitated, a conservator. This allows the conservator to access your financial affairs on your behalf when you are unable. This can be drafted to include all financial affairs or be limited to certain affairs and/or a certain time period. Your durable power of attorney is no longer valid after your death.
Durable Medical Power of Attorney
This allows you to nominate someone to handle your medical affairs, should you become incapacitated, a guardian. This allows the guardian to make medical decisions on your behalf when you are unable. This includes compliance with current HIPPA laws and works in conjunction with your living will.
This allows you to establish a length of time you would like to receive life support and/or artificial nourishment, should you suffer an injury requiring these medical services.
Disposition of Last Remains
This allows you to establish whether you would like to be buried or cremated. You can specify a type of ceremony, flowers, music, etc.
This allows you to utilize business structures to hold assets to achieve tax and/or ownership goals.
These establish duties and property rights of married couples during the marriage as well as at death or upon divorce. This is becoming a popular vehicle for persons entering a marriage with children from another relationship due to Colorado’s definition of “marital property”.
These similarly establish the duties and property rights of cohabitating couples during their relationship and upon death or divorce.
Special Needs Care
This is for a minor or disabled persons.
These are (gifts) to plan for elder care and the potential tax consequences must be thoroughly examined prior to making the gift.