Wills

Almost everyone is familiar with a Will, as it is one of the most common and effective estate planning tools available.  But most people do not realize that a Will can do so much more than provide a simple set of instructions for distributing their property when they pass away. For example, a Will can establish Trusts for your children’s support and education, nominate a guardian for any minor or disabled children, and even make sure that your pets are protected when you pass away.

To make a valid Will in Colorado, you must:

• Be at least 18 years old;
• Be of sound mind;
• Not be unduly influenced by another person;
• Know what assets you have;
• Know who your immediate family members are; and
• Know who you want to receive your assets when you pass away.

A Will may be amended or revoked at any time. An amendment to a Will is called a Codicil, and it must be signed with the same legal formalities as a Will.  You should never write directly on your original Will without an attorney’s advice. Penciling in new clauses or scratching out names can create uncertainty about your intent and result in increased court involvement and possible litigation.