Denver Trusts Lawyer
DENVER TRUST ATTORNEY
Denver families are becoming increasingly interested in how trusts provide current and end-of-life solutions. Our Denver trust attorneys can review your financial situation to determine whether a trust complements your estate plan. We start by reviewing your finances and concerns. Then, we provide you with all the information you need to make an informed decision.
Overboard: How to Avoid Sinking in Your Colorado Family Law Case
Written by Denver Family Law Attorney Myles S. Johnson
Divorce doesn’t have to be dramatic. For the litigants, losing your spouse is significant enough. But you can choose the way it affects your daily life. The only guarantee I can give is that the feeling that you have right now will not be the feeling you end with. This is a season in your life, and it must be approached that way.
This acclaimed book positions Johnson Law Group as a thought leader in Colorado family law, providing clients with the same proven strategies that have guided hundreds of families through successful outcomes.
TOP BENEFITS OF TRUSTS
Feasibility is only one aspect of knowing whether a trust complements your estate plan. The next step is figuring out what the benefits are and which ones you need. Note that the benefits may differ based on the specific type of trust you choose:
- Distributes assets to beneficiaries without paying for the cost of probate
- Distributes assets in a more timely manner compared to probate proceedings
- Allows beneficiaries and heirs to maintain privacy
- Reduces taxes on large inheritances that may otherwise become subject to estate taxes
- Protects assets left for dependents, such as elderly parents, minors, special needs people and even pets
- Protects income-related eligibility for disabled and elderly family members
Individualized Attention
Just as each family is unique, so is each family legal matter. We always take the time to completely understand your situation so that we can tailor our advice and strategy accordingly.
Highly Recommended
Our clients often take the time to write and thank us, not only for the results we have earned for them but also for the respect we’ve shown them.
Supportive Counsel
We never lose sight of the fact that divorce and other household conflicts can feel overwhelming. Our family lawyers will answer all of your questions to ease your burden in this difficult time.
Our Attorneys
Meet Your Legal Team
At Johnson Law Group, our team of skilled and understanding legal professionals proudly provides comprehensive and efficient legal services for all clients.
Myles S. Johnson
MEMBER
Genet T. Johnson
MEMBER
Shannon M. O'Keefe
CHIEF OPERATIONS OFFICER, MEMBER
Taylor K. Brice
MANAGING PARTNER, MEMBER
Jessica Lasky
DOAD, MANAGING PARTNER, MEMBER
Anne E. Hinds
MANAGING PARTNER, MEMBER
Myron L. Latney Jr.
MANAGING PARTNER, MEMBER
Feasability of trusts for you finances
In the past, only the wealthy relied on trusts. They provided a useful vehicle to fund college expenses and protect inheritances from taxes. Over the past few years, middle-class Americans have also begun to put trusts to use. In fact, CNN asserts that the days of needing to be a millionaire to create a trust are behind us.
Financial experts recommend anyone with at least $100,000 in net worth to consider trusts. Assets, in this case, do not only refer to cash but include all forms, such as stock, real estate property, retirement accounts or boats.
Effect on the will
When creating an estate plan, many people wonder whether a will or trust creates better protections. In some cases, an individual may only decide to use one or the other. However, trusts do not necessarily invalidate the need for a will. For instance, if the individual chooses to create a testamentary trust, then a will becomes necessary.
In addition to this, people who create trusts may rely on wills to distribute items that may only hold sentimental value. Wills also help account for any property that did not make it into the trust before the individual passes away.
Process for creating a trust
The specific steps for creating a trust depend on the specifics of your situation and the type of trust you choose. These are some general steps your lawyer may take to complete the process.
- Gather Documents: Your Denver trust attorney will inform you of the documents you need. The documents requested depend on your financial situation and the reason you wish to create a trust. Some of the items you may need to source include tax returns, property titles and bank statements. Your lawyer may also use this information to conduct a full review of your finances.
- Make Necessary Choices: When creating a trust, there are several specifics that you have control over. For instance, the first thing you often need to decide is whether you want to create a shared or individual trust. Shared trusts may make sense for married couples.
Secondly, determine who the successor trustee will be. This person manages the trust on your behalf if you are unable to do so and after you pass away. Your third decision is identifying what assets to include in the trust. Finally, choose your beneficiaries and the terms under which they may receive distributions. - Create the Document: Your Denver trust attorney will provide the necessary paperwork and walk you through the process of creating the trust. The trust formalizes the decisions you made, in writing. You then need to sign these documents before a notary public to make them legitimate.
- Make Title Changes: The final step involves changing the titles of properties absorbed by the trust. This is necessary to ensure the proper transfer of ownership. Once transferred, if it is an irrevocable trust, the trust owns the property. For a revocable living trust, you own the property as a trustee of the trust, instead of as an individual.
Hear From Our Happy Clients
WHY HIRE A DENVER TRUST LAWYER
There are several apps and automated service providers promising cheap trust services. Sometimes, these work perfectly. However, there are also instances where the apps or service providers miss a step and invalidate the trust. They also tend to offer one-size-fits-all plans that do not actually work for every situation.
Hiring an experienced trust lawyer ensures you have someone who knows your case, can provide specific recommendations and will answer your burning questions. Our Denver trust lawyer, Shannon O’Keefe, brings exceptional experience to the table. Why settle for less?
Contact us to find out how we can help you create your trust as soon as possible. We offer free consultations.