Altus Law Group provides a wide variety of estate planning options adjusted to meet the needs of each individual client. At a free and confidential initial consultation, we will discuss various estate planning techniques and your individual needs. We will construct an estate plan specific to you. All estate planning is done on a flat fee basis. Below are many estate planning options.
Your Will establishes how you want your affairs handled after you pass away. You will nominate who you want to handle all your affairs, the personal representative (executor) of your estate. You can nominate a guardian to care for and raise your minor children. You can specify how your assets will be devised and how your taxes, if any, should be paid. Everyone should have a Will, but be certain it is drafted by a qualified attorney or it can cause more damage than good for your loved ones. Altus Law Group has several years of experience drafting custom wills. You can be assured your affairs are taken care of with us.
Your Separate Memorandum allows you to specify persons to receive your personal tangible items after you pass away, such as a watch, grandfather clock or baseball card collection. We are able to support all of your wishes.
Your trust holds assets for certain beneficiaries and/or certain purposes for some amount of time. A common example is a trust for minor children. In Colorado you have to be 21 to inherit money. Therefore, parents often state if they pass away before all of their children have attained the age of 21, the funds should be held in trust, used for their benefit and then distributed to them at some age over 21.
Another common example is a legacy trust where parents leave their adult children an inheritance in trust. The funds are for the benefit of the children, but until they are consumed by the children, they are safe in the trust from creditors, predators, bankruptcy and divorce. This is a great tool for people to use to ensure that their beneficiaries get the benefit of the inheritance, not someone else.
We can also draft a special needs trust to ensure a beneficiary who is receiving disability benefits does not get disqualified from their benefits due to an inheritance.
Financial Power of Attorney
Your Financial Power of Attorney allows you to nominate someone, your agent, to handle your financial affairs, should you become incapacitated. This allows your agent to access your financial affairs on your behalf when you are unable. This can be drafted to include all financial affairs or be limited to certain affairs and/or a certain time period. Your durable power of attorney is no longer valid once you pass away. This is an important document and Altus Law Group will ensure it is completed correctly.
Medical Power of Attorney
Your Durable Medical Power of Attorney allows you to nominate someone to handle your medical affairs, should you become incapacitated. This allows the agent to make medical decisions on your behalf when you are unable. This includes compliance with current HIPAA laws and works in conjunction with your Advanced Medical Directive (also known as a Living Will). While this thought can certainly be daunting, it is important, and Altus Law Group will ensure it is done properly.
Advanced Medical Directive (Living Will)
Your Advanced Medical Directive allows you to establish a length of time you would like to receive life support and/or artificial nourishment, should you suffer an injury or illness requiring these medical services. Medical professionals use this document when you are unable to convey your wishes at the time of the medical services. We are careful to align this with your wishes in your Medical Power of Attorney. This is different from a Do Not Resuscitate. This powerful document allows you to have the peace of mind that your wishes will be complied with even when you cannot voice them.
Disposition of Last Remains
Your Disposition of Last Remains allows you to establish whether you would like to be buried or cremated. You can specify a type of ceremony, flowers, music, etc. Even if you do not have strong thoughts on this, it is helpful to the family when they are simply following your wishes instead of deciding on their own.
We will analyze any business ownership you may have and update your business documents, if necessary. We ensure your business documents and estate planning documents are synchronized to achieve your goals. At Altus Law Group, we take a consultative and leadership role to ensure proper organization of your business affairs.
Premarital Agreements establish duties and property rights of married couples during the marriage as well as at death or upon divorce. This is becoming a popular vehicle for persons entering a marriage with children from another relationship due to Colorado’s definition of “marital property”.
Similarly, Cohabitation Agreements establish the duties and property rights of cohabiting couples during their relationship and upon death or break up. Generally, the main purpose of this document is to specify that the couple is cohabiting, but not common law married.