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Estate Planning in Denver

We frequently see people wait to address their estate planning because they think they’re too young, don’t have enough wealth, or don’t want to think about passing away. That’s an understandable response, but the lack of an estate plan can ultimately put a burden on your family.

If something happens to you, and you don’t have a plan, your heirs will have to pick up the pieces. That work can be incredibly difficult, especially because it will happen as they’re trying to grieve.

Dechtman Wealth Management can help you prepare your estate planning documents to reflect your wishes related to your assets and heirs. With support and guidance from estate planning professionals, you can feel comfortable knowing that if you become incapacitated or pass away, your wishes for your assets will be honored.

Why not start your estate plan today? Our experienced and knowledgeable professionals offer estate planning services in Denver that make this process more manageable, productive, and effective.

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What Is
Estate Planning?

Estate planning helps carry out your wishes when you’re no longer able to look after your affairs. This process can reduce or eliminate the need for your loved ones to go through the probate court process, take advantage of various tax laws, and ensure your beneficiary designations are both current and accurate, among many other objectives.

Our estate planning services in Denver can help protect the financial stability of your loved ones. These services can also help to minimize taxes, expenses, and legal hassle with transferring assets to heirs.

Major issues can arise if you don’t have the proper estate planning documentation and asset protection strategies in place. Make your estate plan a priority now. Instead of putting the process off, you can support your family while ensuring your desires for your assets are respected.

Do You Have the Appropriate Estate Planning Documentation?

These are a few questions you should ask yourself as you begin to consider estate planning. They are designed to act as a starting point for your preparations:

  • Have you discussed your wishes with your spouse and loved ones?
  • Do you have an updated and accurate will that reflects your wishes and desires for your assets?
  • Have you executed a living will and healthcare proxy to protect your wishes in the event of incapacity?
  • Have you named guardians for your minor children?
  • Have you created a trust and titled your assets in the name of the trust?
  • Were your estate plans constructed to minimize tax liability and consequences?
  • Have you reviewed your primary and contingent beneficiaries to make sure they reflect your priorities?
  • Do you have medical power of attorney and financial power of attorney established?

If you’re unsure about the answers to any of these questions, it may be time to request a legal and financial review. Dechtman Wealth Management can help you find the answers to these questions with estate planning in Denver that’s uniquely tailored to your priorities and needs.

If You Have Beneficiaries Listed on Your Accounts, Do You Still Need an Estate Plan?

Beneficiary provisions are a valuable tool for reducing the expense and time associated with transferring wealth. However, they do not replace proper and complete estate planning. We believe that the process of fully and effectively preparing your estate is critical to protecting your family and future financial affairs.

If you have worked with an estate planning attorney in Denver, Colorado, to develop your estate plan, it’s still a good idea to regularly review your documents to make sure they still reflect your wishes. By not implementing current asset protection strategies, you can create legal problems or expensive tax bills for your heirs.

We understand how important it is for our estate planning clients to have professional recommendations for their unique circumstances. To support that goal, we partner with legal professionals in Denver who specialize in helping clients create a truly personalized estate blueprint.

Reasons To Have
an Updated
Estate Planning Strategy

  • Keep control of your assets. If you die without a will or trusts in place, the laws of your state govern how your estate is distributed. An estate planning strategy in Denver, Colorado, will differ greatly from one in Portland, Oregon. Rather than allowing the government to decide who receives your assets, your first priority should be directing your assets to your heirs as you see fit.
  • Minimize your expenses. Avoiding probate can potentially save your family thousands of dollars in legal fees. In many states, probate fees can be as much as 5% of the total value of the estate. For an estate valued at $400,000, legal fees may reach $20,000 or more.
  • Save time. Most individuals seek professional financial advice after the loss of a loved one. While that can be a more prudent approach than not seeking any professional guidance at all, the best time to plan your asset protection strategy is before there is a problem in the first place.
  • Protect yourself from creditors. An estate plan with asset protection provisions may help you shield your assets from potential creditors and predators.
  • Protect your business. Estate planning in Denver, as well as every city, affords you the opportunity to make sure your business is protected. We can help provide you with contingency planning if you become disabled or pass unexpectedly so there is a seamless transition in business operations.

We Are Here to Help

By leveraging our disciplined investment process, you receive complete transparency of information, straightforward costs, and proactive investment management services.

Located just outside Denver, Colorado, Dechtman Wealth Management is built on the foundation of trust that we have with our clients. Since our founding in 1984, we have acted as fiduciaries and always put our clients first. That commitment extends to estate planning in Denver and for all of our clients, no matter where they’re located.

If you want to start preparing for your retirement or would like a second opinion on your investments, give us a call and we would be happy to visit with you.

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