Fort Collins Law Blog

Is your estate plan outdated and vulnerable?

On behalf of Wick & Trautwein, LLC on Sunday, March 17, 2019.

As soon as you take the time to properly create your will and estate plan, you may feel a sense of great relief wash over you. "Whatever happens in the future," you may think to yourself, "At least I've taken care of that and can stop thinking about doing it sometime in the future!" The peace of mind that a strong estate plan can offer is substantial. It is also important to understand that your will and other estate plan documents are not something that you should create once and never look at again.

In many ways, creating your estate plan is like building a house and maintaining it. Most of the time, if you build your home thoughtfully and do not rush or cut corners in the planning phase, your home will be just fine with some small ongoing maintenance. However, if you ignore issues that can cause major damage or if you experience a significant change in circumstances, the home may develop serious problems that leave you vulnerable.

Understanding the big picture when it comes to parenting time

On behalf of Wick & Trautwein, LLC posted in Child Custody on Tuesday, March 5, 2019.

Parents who are in the midst of a divorce or ending their relationship want to make sure that they are able to maximize the amount of time they can spend with their kids. Unfortunately, it is not uncommon for a parenting time case to become extremely emotional, which can make it very difficult to focus on the important decisions that need to be made at this time.

If you find yourself in such a situation, you need to be sure that you are taking the right steps to get an agreement that is right for your children. Keeping their best interests in mind can be a real challenge when the other parent is making your life much more difficult, but here are some of the things you can do to help you create a lasting parenting time plan.

Writing sound contracts as a business owner

On behalf of Wick & Trautwein, LLC posted in Business Formation & Planning on Friday, January 18, 2019.

If you are the owner of a small business in Colorado, you may enter a number of contracts in order to do business and create growth. These contracts might outline the terms of employment, a partnership, a rental lease or a client's project. These types of contracts will differ slightly, but the fundamental principles remain the same.

If you are concerned about writing a sound contract that will avoid costly legal disputes in the future, it is important that you take the time to understand what makes a good contract. The process of writing a contract does not need to be overwhelming or complex for it to be successful.

Focus on the basics when creating your first estate plan

On behalf of Wick & Trautwein, LLC posted in Estate Planning on Wednesday, November 28, 2018.

Regardless of your age, creating an estate plan is a detailed process that requires your full attention. If you make all the right decisions, it will give you and your loved ones peace of mind. However, if you make any mistakes, it could result in trouble down the road.

When creating your first estate plan in Colorado, it's important to focus on the basics. Here are some things to do:

Create a will: This is where most people start, as a will is the most common estate planning document. With this, you can outline who gets what upon your death. Even if you do nothing else in regard to your estate plan, it's critical to create a will.
Name beneficiaries: This all comes down to whom you want to receive your assets when you pass on. Some people name one beneficiary, while others name several. There is no right or wrong approach, so consider everyone in your life before making a final decision.
Choose an executor: The executor of your will is the person responsible for carrying out your final wishes. This person will review your will upon your death, assist with the probate process and make sure everything is taken care of based on the details of your will.
Create a durable power of attorney: This document gives another person the ability to manage your finances should you be unable to do so as the result of incapacity. This is much better than letting the court decide.
Create an advance health care directive: If you're unable to make your own medical decisions, such as toward the end of your life, you want to know that the right person can step in to do so on your behalf. An advance health care directive allows you to name an agent to ensure that you receive the type of treatment you want.
Name a guardian: If you have any children under the age of 18, have a plan on who will raise them should you and your spouse pass on. The best way to do this is to name a guardian in your will.

Here's what to do when you're in a car crash

On behalf of Wick & Trautwein, LLC posted in Car Accidents on Monday, November 26, 2018.

Driving safely should be everyone's priority. All it takes is a few seconds, and what was once a safe venture could become a serious collision. People who become distracted, who drive drunk or who are too tired all cause collisions that could otherwise be avoided.

When you're hurt in a car crash, there are a few things you should do. To start with, you need to make sure you get the right information from the other driver (if you and they are in the position to exchange information). Then, you need to go to the hospital and make sure you get treatment, even if you don't think you're injured.

Parenting time is worth protecting after divorce

On behalf of Wick & Trautwein, LLC posted in Child Custody on Monday, October 1, 2018.

After the dust settles from your divorce, it may take some time to adjust to sharing custody of your child. Many parents struggle to find healthy means of communication with their exes, even though they must work together to provide a good life for their child.

In some cases, one parent or the other may abuse the other parent's right, complicating their relationship with the child or depriving them of their court-ordered custody time. In many instances, this is parenting time interference, which courts don't take lightly. A parent who violates the other parent's rights may face a number of punishments, including loss of privileges and mandatory make-up days for lost custody time.

Make sure you don't make these estate planning mistakes

On behalf of Wick & Trautwein, LLC posted in Estate Planning on Wednesday, August 29, 2018.

When a person first starts to think about planning their estate, it is likely that they feel confused as to where to start. Over the years, different assets in the form of property and insurance or retirement plans can be difficult to plan. You may also be conflicted on how you would like to distribute your assets, especially when you have grandchildren or expect to have grandchildren in the near future.

It is important that you read considerably on some best practices when it comes to planning your estate in the state of Colorado, and that as well as knowing what to do, you learn what mistakes are commonly made so that you can consciously avoid them.

How the child's wishes can affect Colorado custody

On behalf of Wick & Trautwein, LLC posted in Child Custody on Monday, August 6, 2018.

Across the United States, child custody decisions are made by the courts based upon what the judge determines to be in childrens' best interests. Primarily, this decision-making process seeks to safeguard the children, ensuring that they are not in an environment that is abusive or unsafe.

However, determining what is in the best interests of the child from the perspective of growth and building relationships is highly subjective, and extremely dependent on the child's age.

Travel plans with a child custody order can be challenging

On behalf of Wick & Trautwein, LLC posted in Child Custody on Tuesday, June 12, 2018.

There are many things that take special consideration after you go through a divorce involving minor children. One of these is having to plan carefully if you travel with your children. There are some specific Colorado laws that you have to consider in these cases.

If you are planning on traveling with your children and have a child custody order in place, you might have some specific terms that you have to abide by. For this reason, your first step is checking the custody paperwork to find out if you have to notify your ex or the court of the plans or if you have geographical limitations for where you can travel with your children. Here are some other considerations.

Protecting your assets in a Colorado divorce

On behalf of Wick & Trautwein, LLC posted in High Asset Divorce on Wednesday, June 6, 2018.

The decision to file for a divorce can be a tough one. You may have come to the conclusion that it makes no sense from a financial perspective, but that in order to live a happy and fulfilled life, it is what you must do.

On the other hand, you may not have had any say in whether you had to deal with divorce papers since your partner was the one who filed. In this case, you may be forced to take the necessary steps in order to protect your assets quickly and learn about the best strategies to put in place.