High Net Worth Estate Planning Lawyers in Fort Collins & Denver

If you have a high net worth, you need the specialized services of a high-net-worth estate planning lawyer from Legacy Law Group.

High Net Worth Estate Planning Lawyers Serving Clients in the Fort Collins & Denver Area

If you’re unsure what the people you love would be faced with if something happened to you, you need an estate plan, especially if you have a high net worth. It’s important to have a clear picture of your legal and financial situation so that you can determine if your current arrangements will suffice. An estate planning attorney from Legacy Law Group who specializes in creating strategic estate plans for high net worth individuals can help with all of your estate planning needs.

When you consult Legacy Law Group, we’ll ask you to complete a wealth inventory and assessment questionnaire before we sit down with you in a Family Wealth Planning Session to discuss your options. This will help to identify the assets you own and plan for the well-being of your family. If you need to make changes to an existing estate plan, we will work with you to create a solution to suit your unique circumstances. A great place to begin this process starts with getting the estate planning basics for high net worth families right.

What is Considered High Net Worth?

The term ‘high net worth’ is relatively subjective, but the standard notion is that a high net worth constitutes around $1 million in liquid financial assets, and an ultra-high net worth includes anything at or above $30 million. Regardless of the exact amount, if you think you have a high net worth, you probably do, and Legacy Law Group would love the opportunity to assist you.

Estate Planning for High Net Worth Individuals Is Complex

This label is useful in estate planning because it tells us that there are additional problems and factors that need to be taken into account beyond the scope of the typical estate planning situation. Additionally, those areas that all individuals must address, such as incapacity planning, asset protection, and life insurance, may be more complex for a high net worth individual, which may require the specialized services of a high net worth estate planning lawyer. 

 

Our Estate Planning Strategies for High Net Worth Families

Our estate planning services are aimed at making things easier for your heirs, beneficiaries, and/or surviving spouse and children both throughout your lifetime and after you have passed. A revocable living trust can help your family avoid a long, costly probate process in the event of your death. It can also help to limit your taxable estate and keep estate taxes to a minimum.

 

Our basic services include:

  • Kids’ Protection Plans – If you have minor children, you need to ensure they will be taken care of in case of your untimely passing.
  • Probate – Our attorneys will ensure the wishes and directives set in your will are carried out.
  • Trusts – Our legal professionals specialize in drafting trusts that keep your family out of court and preserve your assets for generations.
  • Wills & Codicils – With a will or codicil, you can plan or modify how you want your property distributed after your death with one of our lawyers.
  • Powers of Attorney – If you become incapacitated, this legal document authorizes loved ones to make legal, financial, and healthcare decisions on your behalf.
  • Advanced Life Directives – Living wills and health care powers of attorney fall into this category.
  • Trust & Estate Administration – Following your passing, our attorneys will ensure all your directives are carried out regarding your estate.

 

Legacy Law Group’s estate planning strategies don’t stop there. For high net worth families with a lot of assets, we also offer advanced estate planning services and business planning solutions. Common strategies include:

  • Gift and Estate Tax Planning – Our estate planning lawyers and financial advisors will help you understand each tax exemption, including estate and gift tax exemptions, you may qualify for as well as the potential exemption amount.
  • Grantor Retained Annuity Trusts – Beyond the basics of trusts, a grantor retained annuity trust offers an efficient way for high net worth individuals to transfer their wealth with little or no liability for gift tax.
  • Charitable Giving Estate Planning – Charitable giving can be of great benefit to your financial strategy if you have a high or ultra-high net worth.
  • Business Succession Estate Planning – If you own a business, having a detailed plan in place for who will take over when you pass away is crucial to the long-term success of your investment. 
  • Generation-Skipping Transfer Tax Planning – This tax planning tool is often used by high net worth families to avoid having to pay estate tax for one or more generations by making direct gifts to grandchildren or great-grandchildren. 

 

These are just a few of the many strategies that our law firm may implement to protect the life you’ve worked so hard to build. To learn more about how we can assist you, please contact us to schedule a free consultation.

Personalized High & Ultra High Net Worth Estate Planning Guidance

Not every estate planning lawyer offers personalized plans like we do. Some simply ask you a few questions, choose a plan, then put your family name and information into a template. Your personal lawyer at Legacy Law Group will take the time to get to know you and your family, as well as your concerns and goals. They will explain the process to you and patiently answer all your questions so they can create a comprehensive estate plan that is exactly right for you.

The first step our attorneys will take is to talk to you about estate planning basics. Estate planning refers to the process of preparing for your passing and deciding how your assets will be handled. Estate planning is not just for elderly people; anyone with property to protect and a family to care for needs an estate plan, and this becomes increasingly pertinent as the amount of assets increases.

Our high and ultra-high net worth estate and family business planning attorneys will ensure the most important details of your planning are followed through on and your plan continues to work throughout your lifetime. Our legal professionals ensure your assets are owned the right way for years to come and that none of your assets will end up going through a long, expensive court process or lost to the state department of unclaimed property because they were missed after your death.

We have created unique maintenance programs to keep your plan up-to-date year after year as well as to give you access to our trusted team of legal experts for guidance on any legal or financial matter. We truly value the long-term success of our clients and their heirs and beneficiaries, so as a high net worth individual, you can trust us to continually act with your best interest in mind while you get back to living in the moment.

Ultra-High Net Worth Wealth Management & Transfers

Lastly, to ensure the continuation of your legacy, wealth management and transfers for high and ultra-high-net-worth families are included in your estate plan. While this is important for anyone during the estate planning process, it’s especially vital for individuals with substantial assets.

However, we know that your financial wealth is only a small part of your overall Family Wealth.

Your “Family Wealth” is made up of your assets that are far more valuable than money – and most often lost upon incapacity or death – your intellectual, spiritual, and human assets. These assets are what make you who you are and sum up what is most important to you.

A survey of inheritors has revealed that what they care about, even more than inheriting your money, is inheriting these intangible assets. Most estate plans focus only on the transfer of your financial wealth to the next generation. While this is essential, it’s not the only factor of value when preparing for the future of your wealth.

Most people have such great intentions of passing on the intangible, but very few ever get around to it. It’s just not a priority, and then it’s too late. How much do you know about your grandparents’ values? Their most prized personal possessions? How did they feel about you? What they had learned during their lifetime? If you are like most people, you know very little.

That is why we design personalized estate plans that capture and pass these most valuable assets to the people you love.

Not only will we assist you with passing on your money, but also your values, your insights, your stories, and your experiences — the truly valuable assets your loved ones care about the most. 

P.S. If you think this all sounds expensive, well, you’re right and you’re wrong. We can guarantee you that if you qualify to meet with us, this planning is substantially less costly than it would be for your family if you become incapacitated or die with a plan that doesn’t work or if you don’t have a plan in place at all. We’ve made this model available to our clients because we know that this planning is the foundation for a life of success. We look forward to seeing you and caring for your legacy soon!

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