• Wills, Trusts and Estate Planning

    Gookin Law is currently drafting Wills, Trusts, and Advance Directives in both Colorado and Arizona

    Wills

    A will or testament is a legal document that expresses a person's wishes as to how their property is to be distributed after their death and as to which person is to manage the property until its final distribution.

    Trusts

    A trust is a fiduciary (a fiduciary prudently takes care of money or other assets for another person) relationship in which one party, known as a trustor, gives another party, the trustee, the right to hold title to property or assets for the benefit of a third party, the beneficiary. Trusts are established to provide legal protection for the trustor’s assets, to make sure those assets are distributed according to the wishes of the trustor, and to save time, reduce paperwork and, in some cases, avoid or reduce inheritance or estate taxes. A trust can also help you avoid legal fees and court costs associated with Probate.

    Advance Directives

    An advance directive, also known as living will, personal directive, medical directive or advance decision, is a legal document in which a person specifies what actions should be taken for their health if they are no longer able to make decisions for themselves because of illness or incapacity

    When should I have a will, trust, or advance directive drafted?

    It is never too early to have a will or advance directive drafted. Make sure your loved ones are taken care of in the event of your untimely death. Take control of the ability to give what you have when you want to who you want and how you want.

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