Hal R. Blanchard is the principal estate planning attorney at Rotole, Rotole & Blanchard, L.L.C., assisting clients in the Denver Metropolitan Area with their estate planning needs. Mr. Blanchard has nearly four decades of experience as a probate, trust and estate lawyer, and prepares individually tailored estate planning documents designed to accomplish the goals of the client, avoid probate administration, and minimize any tax implications.
Revocable Living Trusts
A living trust is a document which you create during your lifetime which allows you to specify who will manage the assets of the trust (the "successor trustee") and who will receive the assets of the trust (the trust beneficiaries") after your death. During your lifetime, you are typically named as both the trustee and the beneficiary of the trust, ensuring that you still have complete use and control over your assets. As the name implies, you can revoke the trust or make changes to the provisions of the trust during your lifetime.
A living trust offers certain advantages over a simple will:
- Probate Avoidance: Upon your death, the assets of a properly funded living trust are distributed to the beneficiaries of your trust, in the manner specified in the trust, without having to pass through probate. A living trust allows you to avoid the costs and time delay associated with probate administration.
- A Plan in Case of Incapacity: In the event you become incapacitated, your successor trustee will manage the trust assets on your behalf, avoiding the necessity for a financial conservatorship.
Mr. Blanchard also prepares simple wills for clients, as well as pour-over wills, which are wills which are designed to work in unison with a living trust. He frequently prepares estate plans for families with young children, and prepares wills with guardianship provisions for clients with minor children.
Financial Durable Powers of Attorney
A financial power of attorney is an important document that allows you to designate a person or persons to manage your financial affairs in case you become incapacitated. If you have a trust, your successor trustee will assume the management of the trust assets if you become incapacitated, but there are many other important financial decisions and functions, such as signing tax returns, that are handled through a financial power of attorney. Hence, even if you have a trust, you still need a financial power of attorney to ensure complete management of your finances in the event you are unable to make decisions for yourself.
Medical Durable Powers of Attorney and Living Wills
Advance health care directives such as medical durable powers of attorney and living wills allow you to designate a person or persons to make medical decisions on your behalf and carry out your wishes with regard to health care if you are unable to voice your opinion on these issues. You can also specify your wishes regarding issues such as life support, organ donation, final arrangements and other end-of-life decisions.
Mr. Blanchard also has expertise in wealth planning for clients with significant assets and high net-worth. He formulates comprehensive estate planning strategies that carefully consider income, gift, estate and generation-skipping transfer tax consequences.
To schedule a complimentary estate planning consultation with an experienced trust and estate attorney, contact Rotole, Rotole & Blanchard, L.L.C.