Estate Planning

Having a clear, well-tailored estate plan is essential for every person no matter their marital status, family circumstances, assets, or wealth. At Rounds & Bowman, we understand there is no “one-size-fits-all” estate plan, and we strive to create the most suitable and sensible estate planning documents for each of our clients depending on their own unique circumstances.

Our essential estate planning documents include some or all of the following:

  • A will does so much more than simply direct who your property passes to at your death. It also instructs who will be responsible for administering your estate when you die (known in Colorado as a “personal representative); who should be appointed as the guardian of any minor children you may leave behind; whether any of your beneficiaries who are young or disabled can receive their share of your estate in trust, and who the trustee of this trust should be; and what happens if any of your named beneficiaries die before you. We strive to create wills that are both customized yet straightforward, with everything you need and nothing you don’t.

  • A revocable trust, also known as a “living trust,” can be used in place of or alongside a standard will. A properly prepared and funded revocable trust can avoid the need for probate at your death (which may or may not be advantageous, depending on your circumstances), provide additional privacy in relation to unintended family members, and can in some circumstances offer some income tax advantages. We consider your unique circumstances to determine whether a revocable trust would enhance or simplify your overall estate plan.

  • No matter your circumstances, a financial power of attorney (also known as a “general durable power of attorney”) is an essential estate plan for any individual. A financial power of attorney appoints a trusted individual(s) as your agent, who can step in and handle your assets and financial affairs in the event of your incapacity or unavailability. Based on your unique preferences and circumstances, we prepare robust financial powers of attorney to suit your needs.

  • A medical power of attorney is another essential document that appoints a trusted individual(s) as your agent to make necessary decisions regarding your medical care in the event you are unable to make or communicate these decisions on your own behalf. We work with our clients to craft medical powers of attorney that are as specific or broad as desired.

  • Also known as a “living will,” an advance directive allows you to direct, in advance and on your own behalf, whether and to what extent you would want to receive life-sustaining medical treatment and/or artificial nutrition and hydration interventions if you should fall into in a vegetative state or terminal condition and are unable to make or communicate your choices on your own behalf. We help determine whether an advance directive would be helpful to you given your beliefs and preferences, and if so, whether you want your stated choices to serve as binding directives to your medical team or as instructive guidance for your agent under medical power of attorney.