At Herms & Herrera, estate planning means more than just writing a will, and is appropriate even if a client expects to leave only a modest estate. We assist clients in creating and implementing comprehensive estate plans for all stages of life that seek to balance personal and administrative concerns. Common estate planning tools include:
- Trusts, such as irrevocable trusts, revocable trusts, and living trusts. Trusts can be valuable and extremely flexible planning devices.
- Wills. Even for a small estate, a will can make the probate process easier and will ensure that the deceased person’s wishes are met regarding what they want to happen with their property. Without a will, Colorado law will apply regarding the distribution of the estate.
- Healthcare directives. These documents (also known as living wills) are intended to communicate your wishes regarding medical care in the event you are unable to do so on your own.
- Powers of attorney. These documents permit trusted individuals to act on a client’s behalf if the client is unable to do so.
Herms & Herrera’s practice also includes estate administration (probate). Estate administration refers to the legal process of gathering the assets that make up the probate estate, paying the estate’s debts, and distributing the assets to heirs as directed in a will or, if there is no will, as provided under Colorado law. We help people who are appointed as the personal representative of the estate and also potential heirs who have an interest in the proper and fair administration of the estate.