Wrong Recipient: Mom, who is a surviving spouse, has a bank account and names two children as joint tenants as an estate planning and probate avoidance technique.  Both of Mom’s children have children.  Unfortunately, Child #1 predeceases Mom, who at the time fails to add her grandchild from her predeceased Child as a joint tenant.  When Mom passes away, she effectively disinherits grandchild, which was not her intent at all.

Missed Medicaid Planning Opportunity: To simply avoid probate, H and W, have $400,000 held with survivorship in a bank account and anticipate that upon the death of the first, the survivor will have instant access to the funds in the bank account.  Unfortunately, the spouses are involved in an automobile accident and W is killed.  H was seriously injured and would qualify for Medicaid except for the fact that H received the entire $400,000 which must be spent down to around $2,000 before H is eligible for Medicaid.  Had the $400,000 been property planned for, half of it or more, depending on the ownership, could have been held in trust for H to make his life more pleasant and Medicaid would have covered the basic medical needs.

One Joint Tenant’s Liability: A and B are siblings and Mom names siblings as joint tenants on parcel of real property that she gives to A and B.  At the time, both A and B were on sound financial footing.

Several years later, B finances turn horribly south and he has to file bankruptcy.  The Banruptcy Trustee has tremendous power and takes B’s interest in the home to help satisfy some of B’s debts.  Had the mother utilized a property drafted Trust to “own” the property rather than named both children as tenants with the right of survivorship, B would not have owned the property in his name and the Bankruptcy Trustee would not have been able to take B’s interest in the property.

Moral: Before naming an individual as a joint tenant, be sure you understand the potential ramifications of this do-it-yourself estate planning technique.  It can work under some scenarios, but generally there is a better and safer way to plan for the transfer of one’s assets without incurring the cost and time of a Colorado probate proceeding.

The content of this website is for informational purposes only.  As such, it should not be taken as legal advice for any individual case or situation. It is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Without a comprehensive Colorado estate plan, the state of Colorado will control the following -

1. Without a Colorado Living Trust or Colorado Will, Colorado law controls who receives your assets and when;
2. Without a Living Trust or Financial Power of Attorney (General Power of Attorney), a Colorado Conservatorship proceeding is required and the judge will determine who handles your financial affairs when you are unable to do so;
3. Without a Medical Power of Attorney or Living Will, a Colorado Guardianship court proceeding is necessary to have a Guardian appointed to make your medical or end of life decisions for you;
4. Without a Will, Colorado law will determine who takes care of your minor or dependent children;
5. Without trust provisions as part of your estate plan, your assets will be included in your heirs estates and potentially subject to an estate tax;

One bonus…without a properly drafted Colorado Trust as part of your estate plan, the assets your heirs receive will likely be subject to their creditor claims.

The content of this website is for informational purposes only.  As such, it should not be taken as legal advice for any individual case or situation. It is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Really understanding your entire estate plan is crucial to enabling you to know your wishes will be followed in a seamless and cost-effective process upon your passing.

An illustration of a poorly executed estate plan can be demonstrated by the recent story of Mary Robbins, a Colorado Springs resident.  Apparently in 2006, she entered into a contract with Alcor Live Extension Foundation.  Alcor is a cryogenics company that received much publicity with Ted Williams, the famous baseball player.  Like Ted Williams, Mrs. Robbins supposedly wanted to be preserved with the hope that modern medicine would enable her to live again in the future.  She even purchased a $50,000 annuity to pay for Alcor’s services for years to come.  Just prior to her passing, it appears she changed the beneficiary designation on the annuity to no longer include Alcor.  The problem with Mrs. Robbins estate plan was that  while she allegedly changed the beneficiary designation, she apparently did not change the terms of her Colorado Will, which authorized Alcor to preserve her body.  Litigation ensued and a settlement was reached between her family and Alcor.

The important lesson from this story is to make sure all parts of your estate plan are working properly together and represent your intent, so as to avoid any unnecessary litigation from any source.

The content of this website is for informational purposes only.  As such, it should not be taken as legal advice for any individual case or situation. It is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

In the February 21, 2010, Denver Post article “Who’s Protecting the Unprotected,” David Olinger reports truly sad but very real stories of what can happen when the courts cannot adequately oversee the affairs of an individual when a court has appointed a Guardian or Conservator to protect such person.  The Colorado courts appear to be grossly underfunded to handle these tasks.

One of the reasons Coloradoetrust only offers a comprehensive Colorado estate planning package, that includes a Will, General (Financial) Power of Attorney, Medical Power of Attorney, Living Will and, depending on the package chosen, a Revocable Living Trust, is to avoid the necessity of relying on the courts to appoint somebody who it believes will take care of one’s important financial and medical needs when they are unable to do so for themselves.  Instead, through any of our Colorado estate planning packages, we enable people to designate through their Colorado Living Trust, Colorado Power of Attorney and Colorado Medical Power of Attorney who they believe will take care of them in their time of need, before such need ever arises.

The content of this website is for informational purposes only.  As such, it should not be taken as legal advice for any individual case or situation. It is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

In addition to providing for the disposition of one’s property, like a Colorado Will, a Colorado Living Trust also provides the following benefits:

•   Allows smooth transition of management upon incapacitation and death;

•   Provides care of disabled and handicapped children and grandchildren;

•   Can avoid Colorado probate proceedings and any other state you may own real property;

•   Can reduce settlement expenses in comparison to a probate proceeding involving Colorado Wills;

•   For married couples, minimizes and potentially eliminates estate taxes;

•   For beneficiaries, a Colorado Trust can keep assets out of their own estates which can further limit estate taxes; and

•   Offers asset protection instead of distributing the assets outright.

What is a Colorado Living Trust

In essence, a Colorado Living Trust is simply a document that consists of one’s plan for the management and disbursement of his or her assets that springs into action upon his/her incapacity or upon his/her passing.

Similar to a Colorado Will, Colorado Trusts are “revocable,” meaning that they can be modified or eliminated at any time while one is competent to do so.  A Colorado Living Trust is established by a written agreement or declaration which appoints a “trustee” to administer the property, and which gives detailed instructions on how the property is to be managed and eventually distributed.

Who Can Establish a Colorado Living Trust

Any competent adult eighteen years and older can establish a Colorado Living Trust.

When Does a Colorado Living Trust Take Effect

A Colorado Trust takes effect immediately upon its execution.  However, until it is funded, there are no assets to control or distribute.

How is a Colorado Revocable Living Trust Properly Executed

Unlike Colorado Wills, a Colorado Living Trust does not require any witnesses.  Due to the importance of the document, a Colorado Trust should be executed in the presence of a notary public.

Can a Colorado Living Trust Be Changed or Revoked

A Colorado Living Trust can be changed or revoked at any time as long as the Settlor of the Colorado Trust is competent at the time of the change or revocation.

Who Can Be a Trustee

In Colorado, any competent adult age eighteen or older can be the trustee, including the person setting up the trust. A Colorado bank or trust company is also an option to designate as a trustee.

You can appoint more than one trustee, can delegate different duties to each trustee, and can retain the power to remove the trustee and appoint a new one.  Appointing an alternate trustee is essential if you are the first trustee and the trust will carry on after you die or become incapacitated.

Differences Between a Colorado Living Trust and a Colorado Will

Both a Colorado Living Trust and a Colorado Will are documents that can be changed or revoked at any time and act as a vehicle to transfer one’s assets upon his/her passing.   First, we will examine the differences how the documents affects one while he/she is alive and upon his/her passing.

During one’s lifetime, a Colorado Will offers very little benefit except to know that one has his/her affairs in order.  The reason is Colorado Wills do not come into effect until one passes away.  A Colorado Living Trust, however, comes into effect once it is executed and funded.  It can circumvent the need for a potentially expensive and public court procedure called a Conservatorship.  Instead of a court overseeing the management and disbursement of your assets and who will be in control of your financial affairs, your Colorado Trust handles these private matters with no court intervention.

The differences between a Colorado Living Trust and a Colorado Will upon one’s passing are also great.  First, since a living trust document is not a public document, it offers privacy of your of personal assets and affairs.  Second, if the  Colorado Revocable Living Trust was funded properly, the settlement can avoid the need for a Colorado probate court proceeding, can be more efficient, less time consuming and the legal fees can be substantially reduced.  Third, if one has real property in more than their resident state, a probate court proceeding can also be avoided in every state the real property is located.  Fourth, it allows you as the settler of the Colorado Trust a greater degree of control on how and when disbursements are made.  Fifth, it can prevent a certain amount of funds from ever being subject to an Estate Tax or a Generation Skipping Transfer Tax.  Finally, and arguably most importantly, it can offer your heirs the best form of asset protection available, if drafted properly.

Can a Settlor Transfer Property Into and Out of a Colorado Living Trust While He or She Is Alive

While the Settlor is alive, he or she can transfer their property into and out of his or her Colorado Revocable Living Trust as needed during his/her lifetime.  Once the property is titled in the Revocable Living Trust, they can still make gifts as he/she pleases as well as distributions to themselves for whatever they desire.

Can One Transfer Their Home, Which Still Has a Mortgage, Into Their Revocable Living Trust

Simply put, the answer is yes.  There is a federal law which precludes lenders from exercising any due on sale clause on one’s principal residence to their Colorado Living Trust.  It is advisable to get your lender’s consent before you fund your home into your Living Trust if you have a mortgage lien against it.

Will My Colorado Living Trust Protect Me From My Creditors

A Colorado Living Trust does not provide any asset protection from one’s creditors.  Accordingly, one cannot create a Colorado Living Trust to prevent a creditor from having access to his or her assets.  If drafted properly, subtrusts created upon the Settlor’s passing for his or her beneficiaries offer tremendous asset protection.

Does a Copy of One’s Colorado Living Trust Need to be Recorded with the Courts

No.  A Colorado Living Trust is a private document that does not need to be recorded with any court.  Once a Colorado Trust becomes irrevocable and is worth more than $500.00, Colorado law requires a Trust Registration Statement to be filed in the District Court in the county the Trust is administered.

What is Probate

Simply put, probate is the legal process for transferring your property when you die. More specifically, it is a court procedure that involves validation of one’s Last Will and Testament, appointment of a personal representative, collection of assets, notification and payment to creditors, and transfer of property to the beneficiaries under one’s will.

Why Should One Want to Avoid Probate

While Colorado probate can be relatively simple, it is still a public process that allows others to know of some of your most private and personal matters.  A Colorado probate proceeding must last at least six months but is more likely to take twelve to eighteen months to finalize.  The legal fees for a Colorado probate procedure can also run upwards of five percent of the value of one’s estate.

A Colorado Living Trust avoids the probate process because you collect your assets and transfer them to your Trust before you die.  As long as you do not have any real estate or assets totaling $50,000 in your name, you can avoid the time and legal expense associated with probate.

If One Has a Colorado Living Trust, Is a Last Will and Testament Necessary

If one’s Colorado Living Trust is properly funded, a Last Will and Testament to dispose of one’s assets is not necessary.  However, if minor children or special needs children are involved, the Last Will and Testament designates who will be those individual’s Guardian.  As part of your Colorado estate planning package, a Pour-over Last Will and Testament is included to transfer any property that may not have been funded in the Trust as well as to handle your children’s affairs and to designate who your Personal Representative will be if it is necessary to open probate.

What Types of Property Should Not Be Transferred Into a Colorado Living Trust

An IRA, 401(k) plan or Keogh plan, wherever invested, must remain in the owner’s name and Social Security number.  Between husband and wife, the Surviving Spouse is usually named the primary beneficiary and the Trust may be named the contingent beneficiary.  Please realize that any change of a beneficiary designation of a retirement plan could have important income tax consequences; therefore, you should consult with your tax advisor prior to making any change.

Establishing a Colorado Trust

You should take two steps. First, sign the Colorado Trust.  Then, legally transfer all assets to be titled into the Living Trust to the trustee.  Deeds, stock transfers, new bank accounts, and other legal documents may be necessary.  Assets not formally transferred to the trustee will probably not be considered part of the trust and might still be subject to probate.

Income Taxes

By itself, a Colorado Living Trust does not avoid or reduce any of Settlor’s income taxes.  During the Settlor’s life, a Colorado Living Trust does not require its own income tax return to be filed.  Instead, all income is reported on the Settlor’s individual income tax return.

Estate Taxes

A Colorado Living Trust can include standard provisions for saving estate taxes and generation skipping transfer (GST) taxes.  Each Settlor of a Colorado Living Trust can exclude up to a certain amount (In 2011, the amount is $5 million) that will not be subject to either an estate or a GST tax.  If drafted properly, a Colorado Trust can help ensure the first $5 million in assets will never be subject to an estate or GST tax in any of your heir’s estates.

How Long Does a Colorado Living Trust Last

A Colorado Living Trust last only as long as the Settlor. At the death of the Settlor, a Colorado Living Trust’s terms can provide for the outright disbursement of assets, for the assets to remain in trust, or a hybrid of the two.  For assets that remain in trust, Colorado law allows for trusts to continue for the benefit of the Settlor’s heirs for over 1,000 years.  Trusts that provide for multiple generations are known as dynasty trusts and can offer a tremendous amount a tax and asset protection benefits.

The content of this website is for informational purposes only.  As such, it should not be taken as legal advice for any individual case or situation. It is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

It is important to note that a Colorado Will is not a private document.  Within 10 days after one’s passing, Colorado law requires Colorado Wills to be “lodged” in the county district court where the individual lived.  Upon opening a probate proceeding in court, it becomes a matter of public record.

Who Can Establish a Colorado Will

Any individual who is eighteen years and older, understands his or her assets and is not unduly influenced by another may establish a Colorado Will.

Who Can Serve as Personal Representative

Any competent adult who is twenty-one years and older may serve as Personal Representative.

How Many Personal Representatives May Serve at the Same Time

One or more Personal Representatives may serve at any time.  Two or more Personal Representatives are referred to as co-Personal Representatives.  You may have as many co-Personal Representatives as you believe are necessary.  It is important to understand that the more Personal Representatives serving at the same time requires agreement before anything can proceed.

What Is a Guardian

A Guardian is one who handles the non-financial affairs of a minor or a special needs child.  Without designating who will take care of one’s minor child or special needs child, a court proceeding called a Guardianship will be required to appoint a Guardian over one’s minor child or special needs child.

Who Can Serve as a Guardian

Any competent adult who is twenty-one years old and older may serve as a Guardian.

What Is a Conservator

A Conservator is one who handles the financial affairs for a minor or a special needs child.  Without designating who can serve as a Conservator, a court proceeding called a Conservatorship will be required to appoint a Conservator over one’s minor child or special needs child.

Who Can Serve as a Conservator

Any competent adult who is twenty-one years old and older may serve as a Conservator.

When Does a Colorado Will Take Effect

Colorado Wills becomes valid once it is properly executed and it takes effect upon one’s passing.

When Does a Colorado Will Expire

A Colorado Will does not expire.

How Is a Colorado Will Properly Executed

For a typewritten Colorado Will, Colorado law requires two witnesses, at a bare minimum.  It is advisable to make the document “self-proving” by having the Testator or Testatrix and the two witnesses to sign in the presence of a notary public.  The benefit of have a self-proving Last Will and Testament is that the two witnesses do not have to be brought before a court to help establish the legitimacy of the Colorado Will.

Can a Colorado Will Be Changed or Revoked

A Colorado Will is a revocable document that can be changed or revoked at any time.  A Colorado Will can be changed in one of two ways.  The first way to change a Colorado Will is to prepare a Codicil, which involves creating a new document that consists of the changes one makes to the original document.  It is important to note that one must execute the Codicil with the same formalities as a Colorado Will and to then retain both the original Colorado Will and every Codicil made thereto.  With today being a word processing world, the second way is to revoke the prior Colorado Will and execute a whole new document.

It is important to remember that if one revokes his or her Colorado Will and fails to execute a new one, then Colorado law determines who receives one’s assets upon their passing.

What Does a Colorado Will Not Cover

A Colorado Will does not protect your privacy as it is a public document once one passes away.  It also does not control assets that pass outside one’s estate.  Examples include jointly titled assets like real property and bank accounts.  It also does not cover contracts that are not payable to one’s estate.  Examples include life insurance, annuities, retirement plans and employment death benefits.

What Happens When One Dies Without a Colorado Will

When one dies “intestate” (without a Will), Colorado law determines who is entitled to receive your property.

Where Should I Put My Colorado Will After It Is Executed

One should put their Last Will and Testament in a safe place.  Many people chose to put their CO Will in a safe deposit box.  Within 10 days of one’s passing, Colorado law requires a decedent’s CO Will to be “lodged” with the district court in the county in which the decedent lived.  Accordingly, it is important that whoever is the designated Personal Representative knows where the Last Will and Testament is located so they can comply with Colorado law.

A Colorado Power of Attorney is an inexpensive yet very flexible document used to grant another the power to handle one’s financial and legal affairs.  In general, the agent has authority to do whatever the principal may do — withdraw funds from bank accounts, enter into contracts, trade stock, pay bills, cash checks — except as expressly limited in the power of attorney document. When transacting business on behalf of the Principal, the Agent must use the Principal’s finances as the Principal would use them for the Principal’s own benefit.

Without a Colorado Power of Attorney in place at the time of one’s incapacity or unavailability, a legal proceeding would need to be started to have one appointed as the Conservator to handle the exact same matters as an Agent appointed in a Colorado Power of Attorney document.  In essence, a Colorado Power of Attorney helps maintain family harmony by avoiding the expense of litigation and understanding the wishes of the Principal, in advance.

Who Can Establish a Colorado Power of Attorney

Any competent adult who is eighteen years of age and older can establish a Colorado Power of Attorney.

When Does a Colorado General Power of Attorney Become Effective

A Colorado General Power of Attorney becomes effective immediately upon properly executing the document or it can “spring” into effect upon a certain occurrence.  Some people are not comfortable having a Colorado Power of Attorney in effect while they are competent.  Therefore, they may prefer to execute a Colorado Power of Attorney that “springs” into effect when they become mentally incapacitated or incompetent due to an accident or illness which would require a physician to certify that the Principal is mentally incapacitated or incompetent.

A Colorado General Power of Attorney that is in effect, but does not have durability language becomes void once the Principal is deemed to be mentally incapacitated or incompetent.

When Does a Colorado Power of Attorney Expire

Unless the Colorado Power of Attorney document has a specific date or condition for expiration, the document expires upon the Principal’s passing.

How is a Colorado General Power of Attorney Properly Executed

A Colorado General Power of Attorney does not require any witnesses or a notary public’s signature.  However, the coloradoetrust.com provides for two witnesses and a notary public to help prevent any challenges to the document, to enable it to be recorded, if needed and to comply with state statutes in other jurisdictions.

Can a Principal Revoke or Terminate a Colorado Power of Attorney

As long as the Principal has capacity, he or she can revoke or terminate the Colorado Power of Attorney at any time.  It is best for the Principal to notify the Agent of the revocation or termination in writing, as well as any institution that was aware of the Agent’s authority under the Colorado Power of Attorney.

Under Colorado law, a spouse’s appointment as an Agent is automatically terminated upon divorce.  As long as the Colorado Power of Attorney has a successor agent, the Colorado Power of Attorney will remain in effect.

Who May Serve as an Agent

Any competent adult qualifies to be your Agent under a Colorado General Power of Attorney.  In Colorado, for the purposes of a power of attorney document, an adult is defined as any individual who is at least 21 years old.

How Many Agents Can One Have

While it may be simpler if only one person acts as your Agent at any given time, you may have more than one Agent acting at any time

What is a Successor Agent

A successor Agent is simply an individual who would serve as an Agent if the previous choice for Agent is unable to serve due to death, incapacity, resignation or refusal to accept the office of Agent.  If one is unable or unwilling to serve for any reason, the next individual in line pursuant to the terms of the document becomes the Agent.

To avoid the potential of a Conservatorship proceeding, it is important to designate a successor Agent in case a designated Agent is unable or unwilling to serve as an Agent when needed.

Is a Colorado Power of Attorney Valid in Other States

As long as the Colorado Power of Attorney was valid when executed, it is valid in every state.

Why Should One Have a Colorado General Power of Attorney

If one becomes incapacitated due to an accident or illness, an Agent can immediately begin to make decisions for the Principal without going to court to obtain a Conservatorship.  By executing a Colorado General Power of Attorney, one decides in advance who will make his or her financial decisions.  In so doing, one avoids a potentially expensive, public and time consuming legal proceeding that helps reduce family stress.

Does a Colorado Power of Attorney Affect or Limit a Principal’s Rights

A Colorado Power of Attorney does not affect a Principal’s rights to make any decisions.  An Agent merely is authorized to act along with the Principal, pursuant to the terms of the Colorado Power Attorney document.  Only a court, through a Conservatorship legal proceeding, can strip away a Principal’s rights.

Who Should Be Named as an Agent or Successor Agent of a Colorado General Power of Attorney

The pool of agents should include a competent and trustworthy individual who is at least 21 years old.  Frequently, people choose a spouse, a sibling or a trusted friend.  Less common, one chooses a professional fiduciary to serve as an Agent.  Under either circumstance, the Principal should seek the permission of potential candidate before naming them as an Agent or successor Agent.

Where Should One Store Their Executed Colorado General Power of Attorney

After executing a CO Power of Attorney and at the bare minimum, the Principal should notify the Agent of his or her designation and store the document in a safe and easily accessible location where the Agent could easily locate it if needed.  Otherwise, it is wise to provide the original with the designated Agent to avoid any unnecessary delays should its use be needed.  In addition, one may want to provide copies to the institutions where it is likely to be used.

Who Qualifies as a Proper Witness

Colorado statutory law does not specify a particular age to be a witness.  It is recommended that a competent adult age twenty-one and older be used as a witness.

What is a Limited Power of Attorney

A Colorado Limited Power of Attorney, also referred to as a special power of attorney, enables an Agent the power to perform a specific act or acts for the Principal.  Further, a limited power of attorney is much more “limited” in scope as compared to a general power of attorney.

The content of this website is for informational purposes only.  As such, it should not be taken as legal advice for any individual case or situation. It is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

A Colorado Medical Power of Attorney is much broader than a Living Will.  It enables your Agent to speak for you concerning any form of medical treatment, including both terminal conditions and routine medical procedures and treatment. Your Colorado Medical Power of Attorney may be as specific or as general as you wish.  However, the more detailed information you provide in the document, the more knowledge medical professionals will have concerning how you wish to be treated medically.

Without a Colorado Medical Power of Attorney in place at the time of one’s incapacity or incompetence, a legal and public proceeding may be required to have one appointed as the Guardian to handle the exact same matters as an Agent appointed in a Colorado Medical Power of Attorney document.  In essence, a Colorado Medical Power of Attorney helps maintain family harmony by avoiding the expense of litigation and understanding the wishes of the Principal, in advance.

Who Can Establish a Colorado Medical Power of Attorney

Any competent adult who is eighteen years of age and older can establish a Colorado Medical Power of Attorney.

When Does a Colorado Medical Power of Attorney Become Effective

A Colorado Medical Power of Attorney becomes effective immediately upon properly executing the document.

When Does a Colorado Medical Power of Attorney Expire

Unless the Colorado Medical Power of Attorney has a specific date or condition for expiration, the document expires upon the Principal’s passing.

How is a Colorado Medical Power of Attorney Properly Executed

A Colorado Medical Power of Attorney does not require any witnesses or a notary public’s signature.  However, the coloradoetrust.com document provides for two witnesses and a notary public to help prevent any challenges to the document, and if needed, to comply with state statutes in other jurisdictions.

Why Have a Colorado Medical Power of Attorney

A Colorado Medical Power of Attorney allows one to designate who handles one’s medical care, instead of having to gather a consensus among your family members.  As mentioned previously, it also helps avoid a potentially costly, public and time-consuming legal proceeding.

Where Should One Store a Colorado Medical Power of Attorney

The Principal should notify the Agent of his or her designation and store the document in a safe and easily accessible location where the Agent could quickly locate it if needed.  It is important not to store the document in a safe deposit box as the bank will not be open at night, on holidays and possibly on weekends.  It can be very beneficial to provide a copy to one’s medical providers so they can make the Colorado Medical Power of Attorney a part of the Principal’s medical record.  In addition, a copy of the Colorado Medical Power of Attorney should be provided to the hospital staff when the Principal is admitted for medical treatment.

Does a Colorado Medical Power of Attorney Limit a Principal’s Rights

A Colorado Medical Power of Attorney does not affect a Principal’s rights to make any decisions.  An Agent merely is authorized to act along with the Principal, pursuant to the terms of the Colorado Medical Power of Attorney document.  Only a court, through a Guardianship legal proceeding, can strip away a Principal’s rights.

What is a Successor Agent

A successor Agent is simply an individual who would serve as an Agent if the previous choice for Agent is unable to serve due to death, incapacity, resignation or refusal to accept the office of Agent.  If one is unable or unwilling to serve for any reason, the next individual in line pursuant to the terms of the document becomes the Agent.

To avoid the potential of a Guardianship proceeding, it is important to designate a successor Agent in case a designated Agent is unable or unwilling to serve as an Agent when needed.

Who Should Be Named as an Agent or Successor Agent of a Colorado Medical Power of Attorney

The pool of agents should include a competent and trustworthy individual who is at least 21 years old.  Frequently, people choose a spouse, a sibling or a trusted friend.  The Principal should seek the permission of potential candidate before naming them as an Agent or successor Agent.

How Many Agents Can One Have

While it may be simpler if only one person acts as your Agent at any given time, you may have more than one Agent acting at any time.  It is advisable the Colorado Medical Power of Attorney to provide for successor agents in the event a person named in the Colorado Medical Power of Attorney refuses or is unable to act for any reason.

Can a Principal Revoke or Terminate a Colorado Medical Power of Attorney

As long as the Principal has capacity, he or she can revoke or terminate the Colorado Medical Power of Attorney at any time.  It is best for the Principal to notify the Agent of the revocation or termination in writing, as well as any institution that was aware of the Agent’s authority under the Colorado Medical Power of Attorney.

Under Colorado law, a spouse’s appointment as an Agent is automatically terminated upon divorce.  As long as the Colorado Medical Power of Attorney has a successor agent, the Colorado Medical Power of Attorney will remain in effect.

When Does a Colorado Medical Power of Attorney Expire

Unless the Colorado Medical Power of Attorney has a specific date or condition for expiration, the document expires upon the Principal’s passing.

Is a Colorado Medical Power of Attorney Valid in Other States

As long as the Colorado Medical Power of Attorney was valid when executed

The content of this website is for informational purposes only.  As such, it should not be taken as legal advice for any individual case or situation. It is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

In Colorado, a Living Will comes into effect when two conditions are met:  (1) two physicians are in agreement the patient has a terminal condition or in a persistent vegetative state and (2) the patient has been unable to effectively communicate to their doctor(s).

Who Can Create a Colorado Living Will

Any competent individual eighteen years or older can create a Living Will in Colorado.

When Does a Colorado Living Will Take Effect

A Living Will becomes effective immediately upon properly executing the document.  For a Colorado Living Will to be properly executed, it requires two witnesses.  It is advisable that a Living Will also be executed in the presence of a notary public.

When Does a Colorado Living Will Expire

In Colorado, a Living Will does not expire.

Can a Colorado Living Will Ever Be Changed or Revoked

A Living Will can be changed or revoked at any time.

Does One’s Pregnancy Override a Colorado Living Will

If one is pregnant, Colorado law requires a medical evaluation be performed to determine whether the fetus is viable and is expected to survive with the continuation of life-sustaining measures.  If the fetusis expected to survive, the terms of the Colorado Living Will has no force or effect.

What Is The Difference Between a Colorado Living Will And a Colorado Medical Power of Attorney

A Colorado Living Will is simply a declaration concerning life sustaining measures and whether to withhold food and water whereas a Medical Power of Attorney is a delegation of authority for all types of medical treatment.

Where Should One Store a Colorado Living Will

It is important not to store the document in a safe deposit box as the bank will not be open at night, on holidays and possibly on weekends.  It can be very beneficial to provide a copy to one’s medical providers so they can make the Living Will a part of one’s medical record.  In addition, a copy of the Living Will should be provided to the hospital staff when one is admitted for medical treatment.

Why Have a Colorado Living Will

Not only does a Living Will help insure one’s wishes are adhered to, it is an exceptionally important document that helps reduce the likelihood of disputes among one’s family and the courts.  Simply put, a Colorado Living Will expresses to others, including family, friends, and medical professionals, how you wish to be treated at the end of your life

For your family, this document provides your expressed wishes rather than making the family guess your desires. Nevertheless, it is an excellent idea to discuss your wishes as to medical treatment with your family. The more discussion you have with them on this subject, the more likely your wishes will be followed.

The content of this website is for informational purposes only.  As such, it should not be taken as legal advice for any individual case or situation. It is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.