Wills Lawyers in Denver Helping You Realize Your Final Wishes
It’s hard to imagine the end of life, which is likely why planning for the inevitable is last on the priority list for so many. So many of us spend our lives in the here and now, working, building a life, and taking care of our family with little foresight as to where our hard-earned assets will go when we’re gone.
What is certain, however, is that if we want our families well taken care of and protected in our absence, leaving a will behind for our loved ones is one way we can achieve that.
A will, otherwise commonly referred to as a “last will and testament,” lets your family members know what should happen with your estate after you die and saves your family the time, money, and headaches of enduring a costly legal process without one.
If you are young, single, married, or have children and only a few belongings, it’s never too soon to start planning for and protecting your future with the right legal documents. The more complex your lifestyle, the more important it is to have legal protection when you pass, as there’s more at stake.
Ragab Law Firm, P.C. and our wills lawyers are the right choice for individuals and families, considering the best legal strategies and estate planning guidance to protect your livelihood and hard-earned income and assets.
Take a small leap and talk through estate planning strategies like a will to protect your family’s future with a wills lawyer today.
What is a Will?
Leaving a will behind is like leaving a piece of you behind when you’re gone, as it represents your final legacy.
A will acts as your voice when you’re no longer here to ensure all of your final wishes are carried out and your assets are distributed according to your instruction. This legal document also allows you to put a plan in place for any minor children in the event you pass away unexpectedly, and they need care in your absence.
As part of the state plan process, a will is one legal document in a series of legal tools to ensure your assets go to the right people. A wills attorney with Ragab Law Firm, P.C., depending on your goals, can help you choose from four types of wills:
Simple will: A simple will highlights who will inherit your assets and belongings after your pass away.
Testamentary will: A will that is used to transfer holdings in an estate to other people or organizations after death.
Joint will: A joint will is used to pass along an estate to a spouse first, then any children. Joint wills are sometimes used in business relationships to pass along commercial property or business assets.
Living will: For life-sustaining procedures, feeding tubes, and other end-life care needs, a living will allows a person and its executor to make critical decisions when illnesses or situations become terminal.
Our attorneys with Ragab Law Firm, P.C. specialize in comprehensive estate plans and will help you determine the best, proactive approach to asset protection to support the people you love most.
What if I Don’t Have a Will?
The main purpose of a will is to ensure your loved ones get your assets. Failing to provide a will gives judges and state officials the responsibility of distributing your estate as they see fit. Sadly, this includes your minor children.
In probate, the court might need to decide who should care for your children, and it might not be a person you would pick or trust to do the job. This situation can be easily prevented with the creation of a simple will as part of the estate planning process.
Not having a will is also hurtful to your loved ones, and it will cost them extra time in court and money for additional legal fees to navigate the probate process, which can be lengthy when more family members are involved, nuisances, and complex estates, to name a few examples.
To add insult to injury, as death and grief cause emotional stress, this is the time conflict among family members can breed quickly and easily when money, property, and assets are at risk.
Lastly, if you have spent your entire life working hard for your money, property, home, and other tangible assets, the last thing you want (and your family wants) is to see everything you’ve worked for go to a random family member while your close loved ones, like a spouse or children, are left fighting for what is rightfully theirs.
Is a Will Part of an Estate Plan?
Your estate is considered every valuable asset that you own, from vehicles to businesses to properties and investments and savings accounts. Your assets are not just limited to material things, but any minor children you need to be taken care of in your absence, too.
The estate planning process is the overarching process of asset protection and how to properly protect your assets for your family when you’re gone.
A will falls under the umbrella of estate planning, which is a more robust collection of legal documents that consider important decisions above and beyond your assets, including guardianship designations for minor children, a healthcare power of attorney for health-related decisions, beneficiary designations, a durable power of attorney and a personal letter of intent.
A will is one important legal tool in communicating your wishes, though all wills must first go through the legal probate process to be validated before your executor is given permission to distribute your assets. A will alone doesn’t save your family from the costly headaches of probate court.
An estate plan gives you access to broader protection, however, with legal tools like a trust that don’t require the time and financial drain of probate court. The five most essential components of an estate plan, include:
- Last will and testament
- Living trust
- Durable power of attorney (POA)
- Healthcare power of attorney (POA)
- Living will
These are all critical decisions and steps our estate planning attorneys with wills and trust expertise can help you navigate based on your ultimate goals.
Get Clarity on Your Future with Estate Planning
Caring for your family and putting an actionable plan in place for your assets is how we help you plan, protect your future and avoid legal hassles your family doesn’t need during an already challenging time.
Ragab Law Firm, P.C. always puts the attorney-client relationship first at our firm, and we take the complexity out of end-of-life planning with simple yet effective solutions. We are there for all of the big decisions and when you book a free consultation to discuss your goals, we take collective stock in your current situation to get you the best results:
- Current inventory of what you have, and any debts you owe
- Possible beneficiaries
- Potential fiduciaries
- A plan for children and dependents, short- or long-term, and legal guardians
- Considerations for special needs children and any specific arrangements
- List of final wishes
We work on your behalf through the estate planning process to capture your ultimate goals and vision for your family when the unexpected happens. Get results and call Ragab Law Firm, P.C. today at (303) 564-7313.