For over four decades, the Osterman Law Firm has had a clear vision: to provide superior estate planning services to individuals and families in Denver and across Colorado. We have earned our clients' trust with expert counsel on will and trust drafting, probate and trust administration, and wealth preservation now and for future generations. By pairing modern estate planning solutions with first-rate client service and support, the Osterman Law Firm offers peace of mind so that clients know they’ve anticipated and solved the problems that arise as they age and after they pass away.
Estate planning law is the area of law that protects and manages your estate. It can include arrangements for disability, long-term care, funeral expenses, financial affairs, transfer of your business, guardianship, conservatorship, inheritance, special needs planning, and more.
Estate administration involves the process of settling an individual’s financial and property matters after that person passes away and then distributing their assets and property to heirs and beneficiaries. How this process will occur will depend on the legal documents that the deceased person left behind, the extent and value of the person’s estate, and how many beneficiaries are involved.
Wills
The formal probate process is much more closely supervised by the court. It is used for more complex estates or when Will contests, other litigation, or other complications become part of the proceedings. An example of this can include estates without a Will where it is unclear as to whom is in line for the succession of the estate. The formal process commonly involves court hearings for the determination of various issues.
Trusts
One of the most popular types of trusts is the revocable living trust in which you as the grantor of the trust remain the trustee during your lifetime. This allows you to manage the assets in the trust as you see fit. Since the trust is revocable, you can make changes or even terminate the trust. Once you pass on, your named successor trustee(s) will distribute the assets within it according to the instructions contained within the trust document which you set up.
Power of Attorney
Powers of Attorney can ensure that, should you become incapacitated, your medical decisions and financial matters will be taken care of according to your wishes.
It’s a common belief that estate planning is only for the very wealthy. We associate these people with huge mansions, multiple properties or assets, and high net worth whose children enjoy large trust funds. While these people can certainly benefit from comprehensive estate planning, so can anyone with any assets they wish to pass on, no matter how small their “estate†may be. Furthermore, estate planning can involve much more than a will and take care of many issues from tax planning to business succession planning, and more.