Experienced Edwards Attorneys Create Trusts to Meet Clients’ Needs

Skillful lawyers develop personalized estate planning instruments for Coloradans

There are many different ways to preserve your wealth and to pass what you’ve earned onto the people you care about most. Establishing one or more trusts might be the solution that best suits your circumstances. At Heckman & O’Connor P.C. in Edwards, we are experienced estate planning attorneys dedicated to the well-being of our Vail Valley neighbors. For more than 40 years, we’ve built longstanding relationships with community members by providing insightful, cost-effective advice. Whether you’re looking to simplify the asset transfer process upon your death, provide support for a special needs child or handle another estate planning objective, we can help you determine if a trust is the right option. 

Vail Valley firm prepares revocable and irrevocable trusts

A trust might be the best way to meet one or more of your estate planning needs. These legal instruments can hold assets that are managed and distributed by a trustee according to your instructions. Depending on your particular situation, you might choose to serve as trustee for the trust during your lifetime. Our firm has extensive experience assisting with the establishment and administration of trusts, so we can offer suggestions as to how they could be useful in your overall estate plan.

Flat fees for simple trusts

Though some trusts are quite intricate, many people can accomplish their objectives with a fairly short, straightforward document. That’s why we offer flat-fee trust drafting services for several types of simple trusts, such as:

• Revocable living trusts — By shifting your assets into a revocable living trust, you can access them for the rest of your life, while directing what remains upon your death to named beneficiaries. They would not have to go through the probate process to receive their assets. You can make any changes you wish, or dissolve the trust entirely, throughout your lifetime. 
• Testamentary trusts — Bequests that are left to heirs in a will are fully controlled by those heirs. Some people instead use estate assets to form a testamentary trust that designates what the distributed funds can be used for, and/or when they can be allocated. 
• Special needs trusts — Families of individuals with special needs frequently establish a trust to provide them with financial support while preserving their eligibility for government benefits. 

Should you require a simple version of one of these trusts, you’ll understand the total cost upfront, with no surprises. 

Benefits of establishing a trust

There are various reasons why someone might establish a trust. For many, probate avoidance is a primary goal. Clients gain peace of mind knowing that their loved ones will be able to collect their assets without the time and expense associated with probate. Unlike wills, trusts can be administered privately, so there is no public exposure of a family’s personal and financial information. High-asset individuals might create irrevocable trusts to cut down on estate taxes or as part of an overall gift strategy. Some people also use trusts to shield assets from seizure and to ensure responsible management of assets by qualified trustees.

Contact a knowledgeable Colorado trusts and estates attorney

Heckman & O’Connor P.C. assists Vail Valley residents with the development and management of all types of trusts. To make an appointment regarding your particular needs, please call 970-926-5991 or contact us online. Our office is in Edwards and we serve residents and visitors from communities throughout the area, including Vail, Avon, Eagle, Gypsum, Minturn and Leadville.