Are you one of those people who find attorneys intimidating because they know so many big words? We are here to give you a foot up in the attorney’s world of estate planning. Here at Ambler Keenan Mitchell Johnson in Denver, there are many estate planning words that pop up quite frequently. We will provide an overview of general terms and their meanings. If, at the end of this series, you still have questions about terminology related to estate planning or probate, please call Ambler Keenan Mitchell Johnson for a consultation on your specific needs. 5 Popular Estate Planning Terms Will Living Trust Power of Attorney Probate Trust Administration. These may seem to be common terms, but do you really know what they mean and how they can affect your estate planning? Many people call our firm in Denver, Colorado and express their interest in obtaining a “simple will.” At Ambler Keenan Mitchell Johnson, we create customized estate plans for each client. These plans include wills, healthcare documents, a HIPAA release, powers of attorney, and a declaration of last remains. As you can see, a will is anything but simple. A will is a legal declaration by the testator (person who makes the declaration) that names who will be in charge of the estate and who will inherit. Every state has different requirements for what makes a will valid. Therefore, throwing together a quick will may end in higher costs and distributions that are not what you had planned. It can even be taken to court if it is contested. It is important you meet with an experienced estate planning attorney who can look at your wishes, and then draft a customized set of documents that meets your needs and budget. The experienced attorneys at Ambler Keenan Mitchell Johnson offer a free, one-hour initial estate planning consultation. At this meeting, they will discuss your needs, options, and pricing.
Call 303-407-1542 or fill out the online form to schedule your free estate planning consultation now!Look for our next post on what a Living Trust is and if and how it plays a part in your estate plan.