Estate Planning Basics Attorney in Northglenn, Colorado

Why should a young professional create an estate plan?

More In This Category

View Transcript

really the first indication for me when

talking to someone sort of in my age

range or in the younger professional

realm is do they have kids is there

someone out there that needs to be

protected also a high consideration is

do they own any form of real property so

like a home a land a mineral interest

anything along those lines that would

get them into the probate process it can

also stem from the fact of a lot of

young professionals now are in this

entrepreneurial realm where they’re

starting their own businesses so do they

have everything sort of behind the

scenes that if something were to happen

to them they have someone there in order

to take control whether that’s if

they’re incapacitated who’s going to be

running that business or if they pass

away where are those business assets

going to be transferring to so really

the estate planning realm for a lot of

young professionals is setting up a

succession plan if something happens to

them where do their assets go if

something happens in regards to

incapacity who’s there to be able to

make decisions on their behalf from a

medical or financial perspective so

really the main indicating factors are

what do they own how do they own it do

they have kids what is where are they at

in their lives and sort of that’s my

indicating factor in regards to okay you

hit one of these prongs let’s talk about

how we can set you up in a way where you

don’t have to worry about someone making

decisions for you you don’t have to

worry about who’s going to take care of

your kids if you pass you don’t have to

worry about where your business

transfers to all those aspects go into

my analysis in regards to a young

professional getting set up in the

estate planning Realm

Northglenn, CO estate planning & probate attorney Cole Pokard explains why a young professional should create an estate plan.

More Videos From This Lawyer