TWO DOG LEGAL
MODERN ESTATE PLANNING
ESTATE PLANNING THAT'S REALLY LIFE PLANNING
Hey Colorado! You've been meaning to do it - put documents together that will streamline things if you become incapacitated, and help your family and friends when you die.
This process doesn't have to be intimidating, confusing, or cumbersome -- we're here to educate you and provide the best solution for your unique needs. We welcome all types of families and individuals.
WHAT WE OFFER
EDUCATION.
We provide easy to understand life and property planning for real people -- not a stiff, legalese experience. We take the time to walk you through the different types of documents and how they work, so you can decidee what feels right for you.
PERSONAL ATTENTION.
We collaborate to draft essentials that make sense for your individual situation, whether that's a will or other planning arrangements, along with key documents that plan for who can make financial and medical decisions if you can't.
CARE FOR FAMILY.
We can help with the important step of planning temporary care and permanent guardianship for minor children. Also, we can create personalized trusts to streamline passing on your assets and carrying out your wishes -- including special plans for your pets so they're cared for no matter what.
Most importantly, we know that you and your family are wonderfully unique, and your goal is to work with you to best meet your personal needs -- not to give you a cookie cutter experience.
WILLS
TRUSTS
POWERS OF ATTORNEY
PETS & KIDS PLANNING
PLAIN ENGLISH
So much in estate planning can be confusing or unnecessarily complicated. You may have heard from an uncle that "probate is horrible!" or from a friend that "you have to have a trust!" and a neighbor to "not let that attorney force you to spend thousands when all you need is a simple will." Below are some simple explanations of common estate planning terms.
WILLS
What is a will? In short, it's a legal document that outlines what you want done with things that are owned by you when you die, and can sometimes include instructions for who will care for your minor kids. Your Will nominates a Personal Representative to carry out your wishes, and it can be simple or as detailed as you like. Wills only become effective upon your death. Once the will is validated by a court and required notices are complete, your stuff is distributed as a "one and done" process.
TRUSTS
A trust is a useful planning tool that can be confusing at first. In reality it's just a piece of paper -- but in practice, it provides a legal structure and rules to manage your stuff (money, real estate, and more) during your life and long after you die. The trust legally 'owns' whatever you transfer to it. While you are alive, you retain control of everything in the trust; when you die, your appointed manager, the Trustee, follows the rules you set up to distribute what is in the trust. The terms of a trust can last for years or decades, unlike a will. It can also allow for a more direct transfer of assets than a will, which requires the probate process first.
PROBATE
Contrary to what many people say, Colorado probate is not a 4-letter word. Probate is actually a process to protect you from fraud when you die with assets still in your name. Since you're no longer around to say what should happen to your stuff, the court steps in to either validate your will, or to distribute things according to the law if you die without one. It has costs, and you can do it on your own (which can be onerous) or with the help of an attorney. Depending on the compexity of what you leave behind, it can take several months or more than a year to complete. Fortunately, Colorado has one of the most straightforward probate systems in the US.
POWERS OF ATTORNEY
Sounds official, doesn't it? A "Power of Attorney" is a document that gives an individual the legal right to make decisions on your behalf -- usually, financial or health care decisions -- if you are incapacitated. It is only effective while you are incapacitated, and before your death. Once you die, your other estate planning 'agents' take over, such as the Personal Representative named in your will, or the Trustee of your trust.
GUARDIANSHIP
Deciding who will care for your minor children if you are incapacitated or die is a sensitive task. Guardianship documents give a person of your choice legal authority for your minor children, either temporarily (in the case of incapacity) or permanently. It can also be combined with a trust arrangement to plan for financial support for the caregivers.
PET TRUSTS
If you have pets, what will happen to them when you die? Cousin Mae said she'd take care of Beau -- but what happens if she changes her mind, or if Beau needs surgery and Cousin Mae can't afford it? A pet trust is an enforceable document that appoints a caregiver for Beau, and details his specific needs. Importantly, a pet trust can provide funds to pay for your pets' care and comfort.
WHAT TO EXPECT AND HOW MUCH?
We'll start with an initial short meeting to see if we're a good fit, and to briefly discuss your goals and concerns. We can meet in person if you're in the Boulder area, or phone/video call if you're elsewhere in Colorado.
Then I give you homework. You'll take time to fill out an "assets and relationships" form, which we'll use to figure out the best plan for you. We'll sign an engagement letter that details what work will be done, and a fee agreement.
I do almost all of my work FLAT FEE, with customizable packages and à la carte options too. Each package includes your will or trust, and all of the ancillary documents to deal with incapacity, like powers of attorney and a HIPPA release. I won't know which flavor of fees will apply until we know exactly what documents you'll need -- which often can change after discussions and your own research and considerations.
In short, though, will-based plans generally cost between $900 and $1500, and trust-based plans run in the $1750 - $3500 range. Total cost is determined by how many documents are prepared, and the complexity of managing your assets.
Don't hesitate to contact us with specific questions on costs and timelines.