Death with Dignity

Kurtz & Peckham, PC lawyers can help you draft a “living will” or “advanced medical directive” that allows you to express your wishes about limiting medical measures that could be taken to save your life. Please see our section explaining Living Wills.

Advanced Medical Directives

Compassionate Care
Kurtz & Peckham, PC can help ensure that your wishes are followed by health care providers.

Planning for your health care in the event that you become unable to make decisions can be a very confusing process. Kurtz & Peckham, PC has the experience and knowledge necessary to assist you in planning your health care decisions in advance.

At Kurtz & Peckham, PC we will:

• take time to discuss your needs
• help you make informed choices based on your own belief systems and personal values
• help you give comprehensive and individualized instructions for others in the event you cannot make health care decisions
• carefully craft documents to ensure that your individual needs and wishes will be respected
• explain the differences between the various types of directives and tailor documents to fit your individual needs.

Introduction to Advanced Medical Directives

Kurtz & Peckham, PC can help you and your loved ones prepare the advanced medical directives that fit your needs.

Advanced medical directives are legal documents in which patients express their wishes about the kind of health care they want to receive should they become unable to make their own treatment decisions.

Advanced directives are a step forward in patient self-determination. For them to work, you need to consult with your family doctor and with your family or friends about what your wishes are so that they will know your wishes when dealing with medical personnel.

The primary types of advanced directives are the living will and medical durable power of attorney.

The Living Will:
This is a written document that specifies what types of medical treatment are desired if you become incapacitated as a result of a terminal condition. The living will only deals with situations in which two doctors agree that the patient is terminally ill or has a non-curable condition.

Individuals generally use the living will to instruct relatives and physicians not to use extraordinary efforts to prolong their lives through artificial means in the event of a terminal condition.

Medical Durable Power of Attorney:
This is perhaps the most useful and practical advanced directive. The medical durable power of attorney allows you to decide in advance who you want to make medical decisions when you are no longer able to express those wishes directly to your doctor or family.

The medical durable power of attorney applies to all situations that are not specifically covered by the living will. It could include a situation as simple as being temporarily unconscious after a bike accident or as ethically complex as determining when or whether to use life support systems of any kind.

Through this type of advance directive, you name someone else (called an “agent” or “attorney in fact”) to make health care decisions for you pursuant to your wishes.

This is different from a general durable power of attorney, which allows an individual to make bank transactions, sign Social Security checks, apply for disability, or simply write checks to pay the utility bill while an individual is medically incapacitated.

We are Denver Colorado’s Estate Planning Attorneys

Preparing For Death Is An Aspect Of Life In Which You Can Work To Mitigate Taxes While Providing For Your Children And Other Heirs & Beneficiaries
Estate planning is for everyone. We offer estate planning services to a broad variety of clients with different backgrounds and means. Estate planning is not just for people with estates worth millions of dollars. We provide customized counseling and drafting services to all persons who want to alleviate uncertainty about the future of their property, money, health care or guardianship of their children. Mary Peckham, Katy Kurtz, and our team of legal professionals have offered outstanding estate planning services to the people of Colorado and the Denver community since the firm’s founding in 1979. Our primary objective is to fulfill your wishes for the disposition, preservation, and management of your property. We will inform you of factors that may bear upon your wishes and assist you in arriving at informed decisions. Our experience and deep commitment to providing superior, personalized legal solutions can help you devise a wise estate plan that works for you and your heirs.

Kurtz and Peckham, PC offers a full range of estate planning services in Colorado, including:

• Last Will & Testament
• Testamentary Trusts
• Powers Of Attorney
• Estate Administration
• Gift Planning
• Selection Of Fiduciaries
• Living Wills & Advanced Medical Directives
• Guardianships
• Conservatorships

Estate Planning
Abatement: The reduction of a legacy because there is not enough property in the estte to pay it.

Ademption: When someone is left specific property by will, and on death the property is not owned by the decedent, the gift fails (is adeemed).

Administrator: A male person or corporation appointed to probate and Intestate’s estate. Administratix is a female with the same job.

Ancestors: Those in your bloodline from whom you are descended. Your mother and father, their parents and grandparents, and so on.

Attorney in fact: See Power of Attorney.

Beneficiary: A person who receives benefits under a will or a trust.

Bequest: Any personal property left by will. Today, this also includes all types of property left by will.

Class: When property is left to a number of persons who are not named by who fit a general description, the property is left to a class. For example, bequests to your grandchildren or your issue would be a gift to a class.

Codicil: A supplement that adds to, deletes from, or changes the provisions of a Will.

Contingent beneficiary: A Beneficiary who receives a benefit only if a future event occurs.

Corpus: The principal or capital sum, especially of an estate or trust.

Decedent: A person who is deceased.

Distribution (Intestacy) Statutes: The state laws that set forth who inherits your intestate property and in what proportions if you do not have a will.

Donee: A person who receives a gift.

Donor: A person who makes a gift.

Executor: The person, bank, or trust company that legally steps into the shoes of the decedent and represents the estate in the eyes of the law. If the person appointed is female, the appropriate term is executrix. In Colorado, the title given to the executor is personal representative.

Fiduciary: A person who exercises rights or manages property for a Beneficiary.

Guardian of the Person: One who has the legal care and control over a minor or an incompetent adult.

Guardian of the Property: One who has the legal care and control over the property of a minor or incompetent adult.

Heir: A person who inherits property from those who die intestate (without a will). For example, if your will left all your property to your heirs, your property would be inherited by the same people, in the same amounts, as if you died without a will.

Inheritance Tax: The tax on recipients of a deceased’s property.

Intestacy Property: The property of an Intestate person that will be distributed to his or her heirs under the Laws of Intestacy. Intestacy Property generally excludes life insurance, property held jointly, and property held in a living trust.

Intestate: As an adjective, to be without a valid will; as a noun, someone who dies without a will. Intestate Succession is the name sometimes given to property inherited as a result of an intestacy.

Irrevocable: Cannot be revoked, amended, changed, or canceled.

Issue: Offspring or descendants. Your children, grandchildren, great-grandchildren, and so forth, are your Issue.

Joint Tenancy with Right of Survivorship: A way of holding Title to property by two or more persons so that when one person dies his or her share automatically goes to the surviving joint tenants, and not under the deceased’s Will or under the Laws of Intestacy.

Legacy: A gift of personal property made in a will. The same thing as a “bequest.”

Letters Testamentary: Issued by the probate court, these authorize the Executor to probate the estate of the deceased.

Life Insurance Trust: A Living Trust into which proceeds from a life insurance policy will flow. It may also hold other property.

Living Trust: A Trust established by a Settlor while he or she is living.

Living Will: A writing that requests that life will not be prolonged by artificial means when death becomes inevitable. These documents are often executed at the same time a will is signed. The term living will is a misnomer, because it is actually not a will at all. It directs hospitals and doctors about your desire for life sustaining support, or not, in the event of a terminal illness or accident, or if you cannot be restored to consiousness. See our section on Living Wills for further explanation.

Per Capita: A way of dividing a gift so that each designated person gets an equal share.

Per Stirpes: A way of dividing a gift so that the children of a deceased person divide only the share their parent would have taken if living. Simply means that a share filters down through succeeding generations.

Personal Property: Property that is movable. Any property that is not Real Property.

Pour-Over Will: A Will that transfers all, or a portion, of an estate into a preexisting Living Trust.

Power of Attorney: A writing by which a person (the “principal”) authorizes another person (Attorney-in-Fact) to act for him or her in a limited or general capacity.

Probate: The process of settling an estate of a deceased and transferring his property to his Heirs or Beneficiaries. Done under the supervision of the Probate Court.

Probate Estate: Property held in the deceased’s name alone, or his or her percentage interest in property held as a Tenant in Common, that is being probated.

Real Property: Land, and fixed improvements and growing things on the land. Contrast to personal property.

Residue: The remainder of an estate after specific gifts are made.

Revocable: Subject to being revoked, canceled, changed, or modified.

Settlor: A person who establishes a Trust.
Tenancy in Common: A way of holding Title to property by two or more persons so that when one person dies, his or her share is disposed by a Will or as part of his or her other Intestacy Property.

Testamentary Trust: A Trust established by a Will.

Testator/Testatrix: A male person who makes a valid Will. Testatrix is a female person who makes a valid Will.

Title: Ownership

Trust: An arrangement whereby one person (the Settlor) transfers Real and/or Personal Property to another person (the Trustee) to hold for the benefit of a third person (the Beneficiary) or the Settlor.

Trustee: The person or institution that holds Trust property, manages it, and distributes it to the Beneficiaries.

Will: A revocable document that is used to direct the distribution of an individual’s property at death. It usually designates an Executor to fulfill the instructions contained in the will. A will can be used to distribute property held in your name alone and your interest in a Tenancy in Common. Usually, it will not govern life insurance, property held as a Joint Tenant with right of survivorship or property held in a Living Trust.

Will The Courts Recognize My Living Will?
Colorado has officially recognized the living will in the Colorado Medical Treatment Decision Act. This Act is codified at Colorado Revised Statute, Sections 15-18-101, et seq. Under the Act, a mentally competent person 18 years or older may execute a declaration that any medical procedures or interventions which serve only to prolong the dying process be withheld or withdrawn if at some future time he or she is comatose and has an incurable or irreversible medical condition which could generally only be prolonged by extraordinary measures.

The living will only operates when a patient has been determined to be in a terminal condition.

What sort of declarations can I make in a living will?
In the living will, you can direct your doctor to continue, discontinue, or to continue for a specified period of time any artificial nourishment.

A living will can direct your doctor to withhold or withdraw artificial nourishment if it is the only procedure being provided. If a doctor determines that this will cause you pain, he or she may override the discontinuance of artificial nourishment, and give you enough nourishment to alleviate pain.

A living will can be general or very specific. The most common statement in a living will is to the effect that:

“If I suffer an incurable, irreversible illness, disease, or condition and my attending physician determines that my condition is terminal, I direct that life-sustaining measures that would serve only to prolong my dying be withheld or discontinued.”

More specific living wills may include information regarding an individual’s desire for pain relief, antibiotics, hydration, feeding, and the use of life-support equipment including ventilators.

Will Physicians Honor My Living Will?
Attending physicians are legally required either to comply with the terms of a declaration or transfer the care of the patient to another physician who is willing to comply. Failure either to comply or transfer care is considered unprofessional conduct. C.R.S. Sec. 12-36-117(1)(s).

When presented with a declaration, the attending physician is required to have the patient examined by another physician. If both physicians determine that the declarant has a terminal condition, they will certify so in writing and notify the patient’s spouse, children, parent, or attorney in fact under a durable power of attorney, if reasonably possible. If the declaration has not been challenged within 48 hours of the notice, the physician is then required to withdraw or withhold the life-sustaining procedures.

Does A Living Will Apply To All Medical Circumstances?
No. As long as patient is able to make health care decisions, the living will cannot be used. In Colorado, your living will does not go into effect until two doctors agree in writing that you have a terminal condition.

To aid your families and physicians in making medical decisions in those circumstances, you may wish to execute a detailed advanced medical directive which expands on your wishes if particular circumstances arise.

Who Can Complete A Living Will?
Anyone over the age of 18 years who is of sound mind can complete a living will. To be legal, it must be signed by you and two adult witnesses.

Who Can Witness My Living Will?
Two adult witnesses must sign your living will. The following cannot sign or witness a living will: patients in the facility in which you are receiving care, any doctor or any employee of your doctor, any employee of the facility or agency providing your care, your creditors, or people who may inherit your money or property.

Can A Living Will Be Revoked?
You can destroy a living will any time you change your mind. A living will can be revoked by the patient at any time and in any manner, with the patient simply tearing up the living will document, expressing orally to witnesses the desire to revoke the document, or in writing. Health care professionals who witness such revocations will document them in the record.

If you cancel or change your living will, you should tell your family, your doctor, and anyone who has a copy of it that it has been canceled or changed.

What Are The Advantages To Having A Living Will?

1. Difficult decisions about future care are made while you are competent, alert, and not sick.
2. Your directions allow you to die under circumstances you have chosen.
3. A living will removes the burden of decisions having to be made by grieving loved ones when you are dying.
4. A living will can reduce medical expenses.

What Are Some Disadvantages To Having A Living Will?

1. A living will is effective in a very narrow set of circumstances.
2. The decisions you made may be hard for your family and create disharmony.
3. A parent, adult child, spouse or agent under a power of attorney can challenge the validity of the living will in court.

What Is A Medical Durable Power Of Attorney?
The medical durable power of attorney permits you to name an agent to make decisions on your behalf if you are unable.

It can be helpful to execute a power of attorney to give a loved one specific authority to make medical decisions. This authority may be included in a general power of attorney or in a separate medical durable power of attorney.

Is a medical durable power of attorney recognized by the courts?
In 1992, Colorado adopted the Patient Autonomy Act. This law specifically authorizes the creation of medical durable powers of attorney. Through this device, you may instruct health care providers to withdraw artificial nutrition and hydration and authorize the application or withdrawal of various medical procedures. The law affirms the right of individuals to establish, in advance of the need for medical treatment, any directives and instructions in the even the person lacks the decisional capacity to provide informed consent to or refusal of medical treatment.

The Colorado Patient Autonomy Act has given greater authority to individuals holding durable powers of attorney concerning medical care. A medical power of attorney can be as specific or as general as you wish. However, you should recognize that an agent under a medical durable power of attorney is not generally subject to court supervision, so this should be considered only if you name an agent you trust so completely that you are comfortable giving life and death decision making powers to that person.

What Kind Of Instructions Can I Include In A Medical Durable Power Of Attorney?
A medical durable power of attorney can be used to give specific instructions to the agent about your quality of life preferences and what factors you wish to be taken into account in making medical decisions, including the power to make an anatomical gift.

It may contain instructions to your agent about specific medical treatments, such as decisions about surgery, diagnostic tests or procedures. It may include a specific course of treatment for a known disease or condition, or a decision regarding nursing home care or other out-of-home placement. You can name an agent without giving specific instructions to that person. You may also leave instructions as to the disposition of your remains

When Does A Medical Durable Power Of Attorney Take Effect?
Advanced directives only take effect when the patient loses the ability to make his or her own health care decisions.

As long as you are able to make decisions, your consent must be obtained for medical decisions. Health care providers cannot legally ignore the patient in favor of one’s agent or written instruction.

Who Can Be Given Medical Durable Power Of Attorney?
You may appoint anyone to be your health care agent so long as the person is at least 18 years old, mentally competent, and willing to serve as your agent. The person named has no legal obligation to serve and is not responsible for the financial costs associated with treatment. Your agent doesn’t need to live in Colorado, but it usually makes things more convenient. You might also consider naming a second person to serve in case the first person cannot.

What Happens If I Name My Spouse As Agent, But We Get Divorced?
If you appoint your spouse as your agent, and later you are divorced, legally separated, or your marriage is annulled, your former spouse is automatically removed as your agent unless expressly stated otherwise in your medical durable power of attorney.

Can I Revoke A Durable Medical Power Of Attorney?
Yes. The patient can revoke a durable power of attorney at any time and in any manner.

Will Doctors Try To Resuscitate Me If I Have Advanced Directives?
While it is true that most people use advanced directives to avoid being kept alive against their wishes when death is near, it is a mistake to assume that the existence of an advanced directive means, “Don’t Treat.”

Advance directives are NOT “do not resuscitate” orders. “Do not resuscitate” orders are written by doctors to indicate that a patient should not be resuscitated. The order may be written to reflect a patient’s or surrogate’s expressed wishes about resuscitation, or because the patient will not benefit from resuscitation.

For someone with a living will or medical durable power of attorney, CPR may be appropriate if they are suffering from an acute life-threatening condition. Patients with advance directives may also want aggressive treatment for potentially reversible conditions.

Will The Courts Respect My Advanced Medical Directives?
The U.S. Congress has also shown support for advance directives by enacting the Patient Self-Determination Act. The Act requires that all hospitals receiving Medicaid or Medicare reimbursement must ascertain whether patients have or wish to have advance directives.

In 1990, the United States Supreme Court heard the case of Cruzan vs. Director. This case involved the desire to discontinue the percutaneous gastronomy feedings of Nancy Cruzan. The U.S. Supreme Court decided in favor of the individual right to refuse treatment, even life-sustaining treatment. The Court refused to hand down a specific decision on medical treatment in the case. When the case was referred back to the Missouri Supreme Court, the court found evidence of a verbal advance directive that was deemed sufficient to support the refusal of medical treatment.

How Do Health Professionals Know If I Have An Advanced Directive?
Many hospitals and clinics will ask the patient or family upon admission about the existence of advanced directives when they are admitted to the hospital. The existence of an advance directive is documented prominently in the medical chart. Also, health professionals should document the content of discussions about the patient’s end-of-life desires or any expression of treatment preferences.

A web-based registry is also available to store an electronic version of your health care directive and provide copies as needed to health care providers anywhere in the country. There is no charge for this service at www.uslivingwillregistry.com Started in 1996, this operation has about 15,000 participants.

What Is A Guardian?
A guardian is a person appointed by a court to assist with personal affairs of an individual who is unable to make his or her own decisions. The law regards a person as being unable to make personal decisions if he or she lacks sufficient understanding or capacity to make or communicate responsible decisions concerning him or herself. This may result from mental illness, mental retardation, physical illness or disability, chronic use of drugs and/or alcohol, or other causes. A person who is subject to a guardianship is called a “ward.”

Other than in emergency situations, it may take several months for the appointment of a guardian.

Any person aged 21 or over, or an appropriate agency which is willing to serve, may be appointed as a guardian. A guardian is not required to live with the ward. A guardian is not responsible for a ward’s behavior. Guardianship can be shared by more than one individual.

The duties of a guardian are to determine where the ward should live, to arrange for necessary care, treatment or other services of the ward, and to see that the basic daily personal needs of the ward are met, including food, clothing, and shelter. A court order may allow a guardian to make medical care and treatment decisions. A guardian may manage financial matters for the benefit of a ward. A court may appoint a limited guardian to provide particular services for a specific length of time.

What Is A Health Care Proxy?
A health care proxy is a substitute decision-maker. Under Colorado law, family members and close friends can select a substitute decision maker (proxy) for you if you do not have an advanced directive or a guardian, and if a doctor or a judge determines that you are unable to make medical decisions.

The proxy is chosen from among a group of “interested persons” including the patient’s spouse, parents, any adult child, sibling, grandchild, or any close friend of the patient. The group of interested persons must try to reach a consensus as to who should make the medical decisions on behalf of the patient. The person chosen as your proxy should be the one who knows your medical wishes best.

The doctor tells the patient that a proxy has been selected, says who the person is, and explains the patient’s right to object to the person selected.

If the group cannot reach consensus or the patient objects to the person selected, a guardianship proceeding must be instituted.

The health care proxy has, in essence, the same rights to request or refuse treatment that the individual would have if capable of making and communicating decisions. A proxy can make decisions about all kinds of personal and medical care, and shall comply with your wishes for medical care, if known. If your wishes are not known, the proxy is to act in your best interest.

Advanced Medical Directive: written instructions, such as a living will or durable power of attorney, given by patients about the kind of health care they want to receive if they become unable to make their own treatment decisions.

Agent: the person who is named under a medical durable power of attorney to make your health care decisions.

Attorney in Fact: the agent who is named in a power of attorney.

CPR: Cardio Pulmonary Resuscitation is an attempt to revive someone whose heart and/or breathing has stopped by using special drugs and/or machines or very firm pressing on the chest.

CPR Directive: allows you, your agent, or proxy to refuse resuscitation. If you have a CPR Directive, doctors, paramedics, or emergency personnel will not try procedures to get your heart and/or lungs working again. They are usually signed by patients with terminal illnesses or by very frail patients who may become paralyzed, forever unconscious, or unable to speak or understand if resuscitation is performed.

Declarant: the person who writes a living will.

Guardian: a person appointed by the court to care for another’s person or property because of the other person=s incapacity or disability.

Durable Power of Attorney: a legal document granting someone authority to act as agent or attorney-in-fact for the grantor. A durable power of attorney remains in effect during the grantor’s incompetency.

Life sustaining procedures: any medical procedure or intervention that would only prolong the dying process.

Living Will: a document known legally as a Declaration as to Medical or Surgical Treatment, in which a patient directs in advance whether life sustaining procedures should be continued or withdrawn. It applies only in situation in which two doctors agree that the patient is terminally ill or has a non-curable condition.

Medical Durable Power of Attorney: a document which allows a patient to decide in advance whom she or he wants to make medical decisions if the patient is unable to communicate with medical personnel. It applies to all situations not covered by the specific instance covered by the living will.

Proxy: a substitute medical decision-maker chosen by a group of the patient’s closest relations.

Terminal Condition: an incurable or irreversible condition with no possibility of recovery, as agreed upon by two doctors in writing.

Ward: a person who is under a guardian’s charge or protection.

Kurtz & Peckham, PC’s estate planning services include drafting and executing powers of attorney in a convenient and inexpensive manner.

Powers of attorney can be extremely useful for those persons who are concerned about their own possible loss of capacity to handle financial affairs in the future. A power of attorney must be executed by a person before he or she becomes incompetent. If a person is already incompetent, a conservatorship proceeding must be started in the probate court to get authority to take control of that person’s property and transaction business for them.

A power of attorney is an authorization by you to allow some other person, called your “attorney in fact,” to transact business for you and in your name while you are alive. A “limited” or “special” power of attorney authorizes the attorney in fact to act for you only in a limited capacity – such as to sell your house or to sell your car. A “general” power of attorney authorizes the attorney in fact to act for you in any business transaction you have specified.

A power of attorney is not a will. It does not dispose of any property when you die. The authority of the attorney in fact expires on the death of the principal (the person giving the power of attorney). Powers of attorney cannot be used in place of a will or trust because they are not valid after your death.

Durable powers of attorney for finances come in two basic types:

1. A “Springing” durable power of attorney allows your agent to handle your financial affairs (such as paying bills, getting into accounts) only IF you become incapacitated. (This is also called a “Standby” power of attorney). The “Springing” power of attorney allows you to maintain full control of all your assets while you are competent.Through this instrument, your power of attorney will not become effective unless you become mentally incompetent to carry on business affairs.  If you regain capacity, your agent loses this power – unless and until you become incapacitated again.
2. An “Immediate” durable power of attorney goes into effect immediately, regardless of whether you are
   incapacitated or not.

This type of power of attorney stays in effect until a specified date is reached, an event occurs, or the
person who made it revokes it.

This is often used when the maker is going to be out of the country or for an extended period of time or is temporarily incapacitated.

If you do not have a durable power of attorney for finances and you become incapacitated, often the only thing your family (or friends) can do is go to court and obtain a conservatorship. This process can take months and be expensive.

Frequently your spouse or partner is your primary agent, and then adult children or friends are successor agents in case your primary agent is unable or unwilling to act on your behalf.

A durable power of attorney for healthcare is a type of Advanced Medical Directive. See our section on Living Wills for more discussion of these medical uses of powers of attorney.

For more information on this or any traffic related issues, please feel free to call Kurtz & Peckham, PC at (303) 893-3045 or email our office at  for a complimentary one half hour initial consultation with an experienced attorney.

Probate is the legal process by which a person’s debts are paid and assets distributed upon his or her death. Estate administration includes the probate process as well as non-probate transfers of the deceased’s assets.
In addition to our estate planning services, Kurtz and Peckham, PC provides compassionate personal support and counsel in the settlement and administration of estates.

Ancillary Administration

Q. How do I transfer ownership of Colorado real estate, if the owner lived and died outside of the state of Colorado?

A. You will need to decide if you need to open a Probate Estate in Colorado or proceed through an Ancillary Administration.

Q. How do I decide whether I need a Probate Estate or proceed through an Ancillary Administration?

A. Ancillary Administration – If the deceased property owner lived and died in a different state from Colorado and a Probate Estate has been opened in that state, you will proceed through an Ancillary Administration to transfer ownership of the Colorado real estate.

Probate Estate in Colorado – If the deceased property owner lived and died in a different state from Colorado and a Probate Estate has not been opened in that state, you will need to open a Probate Estate in Colorado to transfer ownership of the Colorado real estate.

If you would like more information regarding transferring real estate title in Colorado, contact our office at (303) 893-3045 or email our office at  for a complimentary one half hour initial consultation with an experienced attorney.

A testamentary trust is a substitute for an outright gift under your will.

A trust is an arrangement under which you give your property to somebody else and he or she holds it for your or your beneficiaries. You will want to give the other person directions concerning how the property is to be managed, how much income you want, who gets the property when you die, what the other person’s fee is for holding and managing your property, and so on. Those directions should be spelled out in a writing, called a trust agreement, to prevent misunderstandings later on.

Testamentary trusts are trusts established by a will. The testamentary trust takes effect at death. In a testamentary trust, the trustee would not get the property until you die; you would control the property until then. The assets must go through probate before being placed in the testamentary trust.

Benefits of a Testamentary Trust

1. You can name the time the recipient is to receive the property. If you do not set up a trust under your will, then any beneficiary, including your children, will take the property when they turn eighteen in Colorado. You may think age eighteen is too young for your daughter to receive 100 shares of stock. The advantage of a trust is that you can predetermine the age at which you want your daughter to get those 100 shares. You can provide that she gets only the income from the shares until age twenty-five. You can also provide that if the trustee determines that she needs some of the principal for her health or education before she reaches twenty-five, then the trustee can distribute whatever number of shares the trustee decides is best. The trust would end when your daughter reaches twenty-five, at which time she would take the remaining shares outright.
2. A trust provides for competent management. An outright gift of property to a beneficiary who has poor business sense, or who is ill, or who is not competent because of young or old age could result in a fast loss of that property. A trust can provide protection for the recipient. It can give the benefits of the property, while making sure that the property is not all lost. When you choose your trustee, you will want to choose someone whose management and business sense your respect. A member of the family is not always the best trustee.
3. A trust can keep property in your family. A trust can be useful if you are in a second marriage. For example, If you had children in a prior marriage, a trust can enable you to provide for your current spouse, but ensure that property passes to your children when he or she dies in whatever shares and proportions you state in your will.
4. A trust can put certain restrictions on property.
5. A trust can transfer property after a beneficiary dies.

Basic Will Preparation in Denver, Colorado

Introduction to Wills

Dying without a will can result in your property being distributed in a manner you may not wish. A will is a simple and inexpensive tool that can take care of all the property you now have and all the property you may have when you die.

Everyone should seek legal advice and guidance before they execute such a vitally important document as their last will and testament. Estate planning requires care to create instruments that will meet your personal objectives and provide for a smooth transition of your property to family, friends, and charity.

Kurtz & Peckham has thirty-five years of experience drafting and executing wills for Coloradans from different backgrounds. Having an attorney prepare a will for you can save you money in the long run. Doing your own will could end up costing your heirs more than you might have initially saved.

All wills are different, depending on an individual’s property, family dynamics, business concerns, and charitable interests. Our estate planning lawyers can offer helpful suggestions, help you envision the future, and tailor a will that fits you as an individual.