Phillips and Blow PC - February 2020

the Phillips and Blow Monthly Bulletin

7700 E. Arapahoe Road, Suite 100 Centennial, CO 80112 303-741-2400 www.phillipsandblowlaw.com

02 .2020

A No-BrainerThat Will Save YouTime and Money Tell Your Friends Why They Should Have an Estate Plan!

Did you know more than half of Americans don’t have an estate plan in place when they die? That’s a lot of people passing away without their family and loved ones knowing their final wishes. While it might seem like having an estate plan is intuitive to you, the fact of the matter is this no-brainer needs to be stated plainly: You need an estate plan for the good of your family’s future. While the state government has rules and procedures for people who die without a will or trust, you absolutely should not leave the future of your assets and family in their hands. The process by which the state redistributes your assets among your surviving family is called intestacy. The intestacy process requires a probate proceeding, which is essentially a lengthy, expensive, public lawsuit where the state decides who gets your assets. Ultimately, you might not like who gets what, and the state also gets some of your money for their trouble. What you need to understand is the government’s procedures for redistributing your wealth are not designed for your benefit. Instead, the system disregards any wishes your family knows you had and takes some of your financial assets in probate to enrich itself. With all this in mind, having an estate plan laid out is worth the work you put into it. It’s by no means a simple process, but it’s far less trouble than the alternative. If you want to know just how much trouble having an estate plan will save you, just talk to John and Justin about some of his probate cases!

mortality. No one likes thinking about their own death or what might happen after they die. However, thinking about your death won’t make it come to you any faster. Try to look past what your estate plan directly implies and consider the peace of mind having a plan will bring your family.

want them? What steps do I need to take in my end of life plan if I get Alzheimer’s or dementia before I die? For answers to questions you might have, it will be worth your while to schedule an appointment with John or Justin. If you receive this newsletter, there’s a good chance you’ve already created an estate plan, or you’ve started taking steps to prepare one. If that’s the case, we at Phillips and Blow, PC would highly recommend you share this newsletter with your friends and family who don’t yet have an estate plan in place. They might be thinking about it but don’t know where to start. Ask them to give us a call for a free estate planning consultation. We will help them find a plan that fits their needs and wants.

You need to consider many factors when developing an estate plan. Ask yourself: Is a will enough to ensure my assets will be handled as I “HAVING AN ESTATE PLAN LAID OUT IS WORTH THE WORK YOU PUT INTO IT. IT’S BY NO MEANS A SIMPLE PROCESS, BUT IT’S FAR LESS TROUBLE THAN THE ALTERNATIVE.”

One major hang-up a lot of people have about estate planning is you must consider your own

– Justin Blow and John Phillips

1

303-741-2400

To unsubscribe from this monthly newsletter, call our offices at 303-741-2400.

www.phillipsandblowlaw.com

Made with FlippingBook Learn more on our blog