Complete Estate Planning

Estate Planning at The Limbaugh Law Firm, LLC

Estate Planning can seem like a formidable undertaking. Actually, anything involving attorneys can seem hard and not worth the trouble of taking on. The Limbaugh Law Firm, LLC understands your hesitations and we have a system to help you take charge of the decision-making process.

In 1789 Benjamin Franklin wrote a letter with a sentence that has become a mantra for some, “in this world, nothing is certain except death and taxes.” Although over two hundred and thirty years have passed since Mr. Franklin penned this sentence, and, it still holds true. Oren “Von” Limbaugh has over twenty years of experience helping people thoughtfully and intentionally plan for “death and taxes”.

What does an Estate Plan do?

An Estate Plan is a tool to help you plan for unexpected or inevitable events in life. You probably have some form of insurance to protect you or your family from the effects of unplanned situations. Estate Planning does something similar, but with words, to ensure that your wishes are known and followed in case of an emergency.

What is an “Estate Plan”?

Oren “Von” Limbaugh recommends that everyone have these five basic documents:

1. Medical Durable Power of Attorney (MPOA) – Designates a person of your choosing to make medical decisions on your behalf, according to your wishes. If you don’t have an MPOA and you are incapacitated in a car accident, for example, the Court will choose someone for you who might not have the same values or beliefs you do.
2. HIPAA Authorization – Gives permission to any health-care professional, insurance company or other health-care clearing house to give, disclose and release information to people that you designate, including information relating to mental illness.
3. Living Will (a/k/a Advanced Directives) – Specifies what kind of treatment you want (or do not want) if you have a terminal condition, or if you need a life-sustaining procedure.
4. General Durable Power of Attorney (GPOA) – Designates a person of your choosing to manage financial issues that may arise while you are incapacitate from the above example, of a car accident.
5. Last Will and Testament – This document can be straight forward with you designating someone to handle your assets after you pass or very intentional to designate guardians (if you have children) or protect your family from any tax consequences to the disposition of your assets.

Most people can manage their estates very well with these five documents. Some people though might benefit from the more comprehensive planning that a Trust document can provide.

Can I download these documents from the internet and do this on my own?

Absolutely! Does that answer surprise you? There are some things you should know about online documents.

1. They might not address specific statues in the Colorado Revised Statues (a/k/a CRS).
2. They might not address certain scenarios. Most online documents are designed to generally support someone in a typical situation. You might not know what permissions (or lack of permissions) you have until you are in a situation.
3. There is no attorney that support you or your agent in using any of these documents in the event of a bank teller or medical professional call them into question.

How can The Limbaugh Law Firm, LLC help me get started?

We have a straight-forward process to make Estate Planning as easy as possible. Oren “Von” Limbaugh has designed a questionnaire that will help you start thinking about all the things he is thinking about when drafting your documents. If you have started the estate planning process or you already have some documents, we will review those documents, for free, at your initial consultation, and explain what they mean. We are happy to build on any estate planning work you have done on your own or with another attorney. We just want to make sure you have the documents and the protection you need so you don’t have to worry about the “what ifs” in life.

How much does it cost?

We have fixed prices for our most popular documents. The Limbaugh Law Firm, LLC wants to take the fear factor of the “unknown” out of the Estate Planning Process. Our document prices are more than what you would pay for an online Power of Attorney, for example, but within the average rate in the Denver-Metro area. Please visit our “Pricing” page for more information.

The Limbaugh Law Firm, LLC separates ourselves from our local competitors by offering support beyond the planning process. If you are at a bank and they are telling you they cannot accept our GPOA, you can call us, and we will work with the banking staff at no additional charge to you. At your request, we send copies of your documents to your financial planner, fiduciaries and medical care providers without any charge to you. We also provide electronic copies of your documents to anyone you designate. We are always a just a phone-call away from an answer to your questions. Finally, we will update your documents for free for the first six months after you sign them and then update them at a discounted rate for the rest of your life. People and circumstances will change overtime and your estate plan should reflect your current desires and wishes.

I already have an Estate Plan. How do I know if it needs to be updated?

Take this short True/False quiz to help you think through probate issues.

1. My estate plan was drafted or reviewed by an attorney within the past three years.
2. My nominated fiduciaries are willing and able to serve if needed.
3. My backup fiduciaries are willing and able to serve if needed.
4. My fiduciaries know my wishes and can easily learn what I want or need them to do.
5. My attorney, financial planner, and accountant have reviewed my estate plan and plugged any gaps.
6. I am aware of and have planned for any family disagreements, or I have reviewed my estate plan with my family and they are at peace with it.
7. All of my property is titled correctly, as called for by my estate plan.
8. I have made plans to pay taxes and creditors.
9. My financial affairs and property records are in order, so that my fiduciaries can easily know the extent of my estate (in terms of both domestic and international business and personal assets).

If you answered "False" to any of the above questions, your family or beneficiaries could face probate problems with your estate. Fortunately, these problems can be avoided with good estate planning. The Limbaugh Law Firm, LLC can give you the peace of mind you need to know all of your personal affairs are in order. Please call or email us to set up a free consultation appointment so we can help you evaluate your specific needs.