When our clients receive a settlement – perhaps a personal injury settlement, Workers’ Compensation award, or Social Security disability award – they recognize that they need to protect their money.
We’re always glad when they ask us about wills, trusts, and other estate planning tools. We’re happy to provide this service! As your Colorado Springs wills and trusts lawyer, Machelle Gielarowski offers the legal acumen and in-depth knowledge of state law to help you establish or update your will or trust. (Wills and trusts are useful estate planning devices that serve different purposes, and both can work together to create a complete estate plan.)
Whenever we work with our clients – whether it’s creating a will or pursuing a personal injury case – we get to know them on a personal level. We’re proud of our ability to fiercely represent our Colorado Springs and southern Colorado clients as a powerhouse legal team, along with genuine care and compassion.
For this reason, many of our clients – and their friends and family members – will look to us as their knowledgeable lawyer. In fact, many clients return to The Gielarowski Law Firm again and again for legal work. Over the years, they refer their adult children and even grandchildren to us, because they appreciate our quality legal advice and high level of personal service. Over time, Machelle becomes an attorney for the entire family!
What is the Legal Definition of a Will?
According to The People’s Law Dictionary, a will is “a written document which leaves the estate of the person who signed the will to named persons or entities (beneficiaries) including portions or percentages of the estate, and specific gifts. A will usually names an executor to manage the estate, states the authority and obligations of the executor in the management and distribution of the estate, sometimes gives funeral and/or burial instructions, nominates guardians of minor children, and spells out other terms. To be valid the will must be signed by the person who made it, be dated and witnessed by two people. If the will (also called a Last Will and Testament) is still in force at the time of the death of the testator (will writer), and there is a substantial estate and/or real estate, then the will must be probated (approved by the court, managed and distributed by the executor under court supervision).” A seasoned wills and trusts attorney in Colorado Springs could explain
What Is a Trust?
As an experienced will lawyer, Machelle often tells clients: “like a well, this is a deep subject.” There are many types of trusts, which can support our clients’ various needs. However, your estate plan may or may not require a trust, depending on your family’s situation. Our Colorado Springs clients know we’ll offer guidance throughout the estate planning process, including explaining why they may or may not need certain estate planning tools such as a trust.
According to The People’s Law Dictionary, a trust is “an entity created to hold assets for the benefit of certain persons or entities, with a trustee managing the trust. … The assets of the trust are usually given to the trust by the creators. During the life of the trust, profits and, sometimes, a portion of the principal may be distributed to the beneficiaries, and at some time in the future (such as the death of the last trustor or settlor) the remaining assets will be distributed to beneficiaries. A trust may take the place of a will and avoid probate (management of an estate with court supervision) by providing for distribution of all assets originally owned by the trustors or settlors upon their death.”
Call a Wills and Trusts Attorney in Colorado Springs
When you need help developing estate planning documents, our team can help. Although creating these documents can seem overwhelming, our team can ease you through the process. Get in touch with a Colorado wills and trusts lawyer today to learn more information.
