Estate Planning In Denver Blog

Authored by Estate Planning Lawyer Nick Klimas and the occasional guest writer
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Why You Should #StartTheConversation

Any important topic certainly has its drawbacks when edging it into conversation. Political debate between friends can get heated, discussions of money, budgets or spending can tax any relationship. So its understandable that starting the conversation that involves contemplating your own demise doesn't make it very high on the "to talk about" list. A recent Rocket Lawyer poll showed that 28% of adults said they would rather do anything else than draft an estate plan. While 55% of adults recognize they need one but just haven't gotten around to doing it. I think this can honestly be attributed to the difficult nature of the conversation. Talking about your estate plan is a necessity in this d

What is an Estate Plan?

I get asked this question all the time and the best way to really answer this question is in the most “lawyer” way possible….it depends. It depends on what you want to accomplish. It depends on how large your estate (all of your combined assets) is. It depends on whether or not you own real property, houses or land, and in what state. Until about 20 years ago, most estate plans consisted of simply a Last Will and Testament and maybe one or two other documents. This process works fine however, proving a Will requires a process called Probate. Probate typically involves the court so it is very fair and equitable. However, it can take a very long time, 6 months to a year, depending on the numbe

An Estate Plan for Your Business

Many people think of estate planning as a necessity only for a person or a family. But what if I told you that businesses are people too. Obviously not in the strict sense of the word, but in the eyes of the law, certain business types are viewed as separate legal entities with lifespans of their own. They can be sued in their own capacity separate from any of the business members. They can act and be served court documents on their own behalf, just like a person. A business succession plan operates much the same way as and tackles many of the same issues as a personal estate plan. For instance, a Buy-Sell agreement could be compared to a Will in the sense that it directs, at the time of y

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