Colorado Estate Planning Checklist

State:
Multi-State
Control #:
US-Q1014
Format:
Word; 
Rich Text
Instant download

Description

This form addresses important considerations that may effect the legal rights and obligations of the parties in an estate planning matter, such as wills, trusts, healthcare documents, deeds, and more. This questionnaire enables those seeking legal help to effectively identify and prepare their issues and problems. Thorough advance preparation enhances the attorneys case evaluation and can significantly reduce costs associated with case preparation.



This questionnaire may also be used by an attorney as an important information gathering and issue identification tool when forming an attorney-client relationship with a new client. This form helps ensure thorough case preparation and effective evaluation of a new clients needs. It may be used by an attorney or new client to save on attorney fees related to initial interviews.


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FAQ

C.R.S. 15-5-813(1). The trustee has a duty to notify beneficiaries within sixty days of the trustee's contact information, a beneficiary's right to receive a copy of the trust document, and the beneficiary's right to a trustee's report. C.R.S.

Five of the Most Common Estate Planning Questions AnsweredWhat is the difference between a will and a trust? Wills and trusts have some similarities.What is Power of Attorney?Do I need to create a medical directive?When should I make updates to my estate plan?I'm worried my family will contest my will.

Beneficiaries are entitled to an accountinga detailed report of all income, expenses, and distributions from the estatewithin a reasonable amount of time. Beneficiaries are also entitled to review and approve any compensation requested by the executor.

Trustees have a duty to beneficiaries to disclose certain information; however, simply because you are a beneficiary, you cannot demand access to all the information regarding a trust.

A trust avoids probate; a will does not. Colorado state law requires that your will be filed within ten days of your death in the Colorado County in which you resided. No such requirement exists for trusts.

Beneficiaries and qualified beneficiaries must be notified of their right to request portions of the trust instrument that describe the beneficiary's interest and the right to receive trustee's report 60 days after the trustee acquires knowledge of the creation of an irrevocable trust (which happens at the time when

In Colorado, you can make a living trust to avoid probate for virtually any asset you ownreal estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

Estate planning in simple terms refers to the passing assets / investments down from one generation to another. You decide how much of your estate be it property(s), car(s), personal accolades, financial investments, etc. you want to pass on to whom and how, after your demise.

Wills, Trusts & Estate. Planning Team. The attached Estate Planning Questionnaire is designed to help you organize your personal and financial information, to help us effectively assess your goals and circumstances, and to enable us to recommend an estate plan that will work for you and your family.

One of the reasons to create a trust instead of a will is to keep your estate private after you pass away. The information contained in a trust is not public record and does not move through the probate process (in contrast to a will). In fact, trusts aren't recorded anywhere in the court system.

More info

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Colorado Estate Planning Checklist