Estate Planning Lawyer
Denver, CO
The critically important steps for me practicing in the estate planning area are (1) to carefully listen to you about how you would like your estate distributed and (2) for me to create the documents that reflect your wishes.
My experience of being an attorney for more than thirty-five (35) years and preparing hundreds of wills help me tremendously in advising you and preparing your estate plan. One goal of mine is to create peace of mind for yourself and your loved ones about what happens to your assets upon your death.
For nearly all of my services in the estate planning area, I am able to quote you a flat fee so you know what my charges will be.
Don’s pledge to you:
- He will promptly return your phone call or respond to your email.
- He will help you make an informed decision about your legal matter.
Unique Qualifications
Don is uniquely qualified to help you because he has been practicing law for more than 35 years and he is a Certified Public Accountant (Inactive).
Call me for all of your Estate Planning needs at 303-782-4900.
Law Office
Don A. McCullough Attorney at Law
950 S. Cherry Street, Suite 418
Phone: (303) 782-4900
Email Don
Don has been my attorney for over 30 years. He has assisted my family with several wills and other personal matters. His kind and caring demeanor, integrity, confidence and compassion has helped so many times when emotions are high.
Don was also extremely knowledgeable in all areas our Colorado business from it’s beginning to the end. As I am sure with many of his clients, we have an amazing attorney and an even more amazing friend in Don. He does not disappoint.
When should I do my Estate Planning?
What often prompts a client to contact me about estate planning is that a family member dies and there are major problems with probate because there was no will. On the other end of the spectrum, I have also tried to encourage some people to work on their estate plan and they will not because they “do not want to think about death.”
Each person’s situation is unique. Everyone should have an estate plan.
Don’t have a Will – yet?
If you do not have a will (called “intestate” instead of having a will which is called “testate”), it does not mean that your estate goes to the State of Colorado. If you do not have a will, it means that your estate is distributed based upon a statute in Colorado, and the statute may not distribute your estate the way you would like your estate to be distributed. Therefore, it is imperative that you have a will (or in some circumstances a trust).
I would be honored if you ask me to be your estate planning attorney.
As your estate planning attorney, I have to think through all of the “what ifs” in your situation and plan accordingly. The biggest “what if” is probably what happens if someone does not survive that you are sure will survive.
Colorado’s probate system is relatively straightforward and streamlined as compared to other states. Since a Colorado probate is not necessarily something to be avoided at all costs, for many clients a will is the best option. It tends to be a less expensive choice than a revocable living trust, and works well for the needs of many clients.
Further, for probate, creditors have approximately four (4) months to file claims and if you do not open probate and rely upon a living trust as the primary estate plan, creditors have one (1) year from date of death to file claims against the decedent, which may delay distributions.
Estate Planning Advice
The basic documents for estate planning are:
- Will. A will is a document in which a person specifies who is to receive his or her property upon death; designates the person who will be responsible for probating the estate; and appoints a guardian for minor children if there are minor children. The will may include a contingent trust for any minor children and any children that you would like to protect from themselves from receiving an inheritance at too young of an age.
- Medical or Health Care Power of Attorney. A medical or health care power of attorney is a document that allows you to name a trusted person to make medical decisions for you if you are unable to communicate on your own.
- Living Will. A living will is a document that states what your wishes are about being on life support.
- Financial Power of Attorney. A financial power of attorney allows you to name a trusted person to pay bills, make bank deposits, watch over investments, collect insurance or government benefits, and handle other financial matters on your behalf. A financial power of attorney is an extremely powerful document and must be very carefully reviewed prior to using the financial power of attorney as an estate planning tool. I usually state that the financial power of attorney only becomes effective upon the disability of the person signing the financial power of attorney.
Another document that may be used if the situation is right is the use of a living trust. All of your assets are transferred into a trust and the trust’s provision state how and when the assets will be distributed upon your death. A living trust is a good vehicle if a person is elderly (relative term) and needs help from children as the person ages because all of the assets are in the trust and are easy to manage.
Some Assets Do Not Go Through Probate Even With A Will.
Assets that do not go through probate are:
- Assets held in joint tenancy. The asset goes automatically to the survivor upon the death of one of the owners.
- RAs, 401Ks and other retirement accounts. IRAs, 401Ks and other retirement accounts are distributed based upon beneficiary forms that you complete. You should periodically review and update your beneficiary forms. If you do not name anyone, then by default it would become part of your estate in a probate proceeding. You should always name who the beneficiary is.
- Life Insurance. Life insurance is distributed based upon who you name in the beneficiary form.
- Annuities. Annuities are distributed based upon who you name in the beneficiary form.
- Accounts that are Payable Upon Death. If you have an account that is a payable upon death, upon your death it is paid to the person that you name and does not go through probate.
At times I will use a beneficiary deed as an estate planning tool. A beneficiary deed is used to transfer ownership of real estate immediately and automatically to the beneficiary named in the deed upon the grantor’s (person who owns the property and is signing the deed) death.
Financial Statement - Estate Planning
For a financial statement which provides information for your estate plan, I have prepared a form for a financial statement that you may download.
Title to Property - Estate Planning
For a list of how title to property is held in your estate plan, I have created a list you may download.
Beneficiaries of Retirement, Life Insurance and Annuities - Estate Planning
For a list of who the beneficiaries are for your retirement accounts, life insurance, and annuities, I have created a form that you may download.
Reviewing and Revising Your Estate Plan.
I recommend that you take out your estate planning documents at least once a year to review them and make sure that they reflect your wishes. If they do, you put them back in their safe location until it is time for you to again review them. If they do not, you should call me and we will discuss what changes you would like. What may cause you to review your estate plan more often than once a year is if (1) your thoughts or philosophy changes, or (2) a change in your family situation such as a death.
Estate Planning Practice Areas.
My practice in estate planning includes the following areas:
- Wills.
- Medical Powers of Attorney.
- Living Wills.
- Financial Powers of Attorney.
- DNR (do not resuscitate).
- Living Trusts.
- Special Needs Trusts.
- Cohabitation or Living Together Agreement.
- Business Planning.
- Business Succession.
- Pet Trusts.
Please call me for all of your estate planning needs at 303-782-4900.
I practice estate planning in the State of Colorado and in:
Arvada
Aspen
Aurora
Avon
Bennett
Blackhawk
Boulder
Bow Mar
Breckenridge
Brighton
Broomfield
Brush
Buena Vista
Canon City
Castle Pines North
Castle Pines Village
Castle Rock
Centennial
Central City
Carbondale
Cherry Hills Village
Colorado Springs
Columbine Valley
Commerce City
Cortez
Craig
Crested Butte
Delta
Denver
Dillon
Durango
Eagle
Edgewater
Edwards
Elizabeth
Englewood
Erie
Evergreen
Fairplay
Federal Heights
Firestone
Florence
Fort Collins
Fort Lupton
Fort Morgan
Foxfield
Frederick
Fruita
Glendale
Glenwood Springs
Golden
Granby
Grand Junction
Grand Lake
Greeley
Greenwood Village
Gunnison
Henderson
Highlands Ranch
Lafayette
Lakewood
Larkspur
Leadville
Littleton
Lone Tree
Longmont
Louisville
Loveland
Lyons
Montrose
Morrison
Nederland
Northglenn
Parker
Salida
Sheridan
Silverthorne
Sterling
Strasburg
Steamboat Springs
Superior
Telluride
Thornton
Trinidad
Vail
Westminster
Wheat Ridge
Windsor.
