You’re juggling work, managing the household, possibly caring for aging parents or raising kids of your own. The idea of estate planning feels like something you’ll get to later, when life slows down or when things feel more settled.
But imagine you’re in the hospital after a sudden health emergency. You’re alert one moment, and unconscious the next. Your spouse wants to talk to the doctors, but legally can’t. Your adult child tries to access your bank account to pay your mortgage, but they’re locked out. Your family is willing to help, but without legal authority, they’re stuck, and you’re left vulnerable.
Wiley Reynolds PLLC helps individuals and families in Colorado create practical, flexible estate plans that put the right legal tools in place so the people you trust can step in when you need them most.
Here are some key documents that form the foundation of most estate plans, and how they can help.
Will (Last Will and Testament)
A will lets you decide who receives your property after you pass away. It allows you to name guardians for your children, assign specific gifts, and provide guidance for final arrangements. If you do not have a will, state law decides how your estate is distributed, which may not be consistent with your wishes.
Revocable Living Trust
A revocable living trust allows you to transfer assets into the trust while you are alive. You remain in control of those assets. If you become incapacitated, the person you choose can step in to manage the trust. After your death, assets in the trust can be passed directly to beneficiaries without the court involvement, expense, or delays of going through the probate process.
Medical Power of Attorney and Advance Directive
A medical power of attorney gives someone you trust the authority to make healthcare decisions if you are unable to do so. An advance directive (also called a “living will”) outlines your preferences for medical care in end-of-life situations. It covers decisions like resuscitation, feeding tubes, and other life-sustaining treatments. These documents can ensure your wishes are known and respected.
Financial Power of Attorney
If you cannot manage your finances, a financial power of attorney allows someone to act on your behalf. They can access accounts, pay bills, handle investments, and manage property. Without this document, your loved ones may have to go to court just to handle routine financial tasks. A well-designed estate plan gives your family the ability to support and care for you without delay or confusion.
Beneficiary Designations
Retirement accounts, life insurance policies, and certain bank accounts allow you to name beneficiaries. These designations control who receives those assets, even if your will says otherwise. It is important to review and update them after life changes like marriage, divorce, or the birth of a child.
Create a Plan That Works for You
Estate planning isn’t just about what happens after death. It’s also about protecting your health, your assets, your financial well-being, and your family throughout your life. Wiley Reynolds PLLC can walk you through each step, answer your questions, and help you make informed decisions so that your plan reflects your needs and values.
Ready to get started? Contact our Colorado estate planning attorney today to schedule a consultation. We offer flexible meeting options and transparent pricing so you can move forward with confidence.
