Trusts in Colorado | Boulder Wills and Trusts Lawyer
Trusts can be a very useful tool in estate planning, whether as a substitute for a will or included within a pour-over will. Generally speaking, revocable living trusts (“RLTs”) are trusts that, upon the settlor’s death become irrevocable and are administered by a trustee of the decedent’s choosing.
A number of well known public figures do their best to scare people away from wills by claiming that the probate process, which is the process through which a will is administered with the oversight of a state probate court, is always so expensive and burdensome on decedents’ heirs and representatives that it should be avoided at all costs. While probate can be nightmarishly tedious and expensive in a number of other states, it is much more streamlined in Colorado. Through the adoption of the Uniform Probate Code, Colorado has dramatically simplified and decreased the costs associated with probating a will in comparison to a number of other states.
But the simple fact that wills are generally simpler to administer through the probate process in Colorado does not mean that wills are the best option for everyone. There are a number of complex and interconnected variables that must be weighed with the assistance of a knowledgeable estate planning lawyer to determine which option is right for you.
If you are looking for an Estate Planning Attorney in Boulder with a results oriented approach tailored to your matter’s specific needs, contact Newell Law. We have the experience and knowledge to achieve the best results possible for your case.