How to Avoid Probate in Colorado: Are You Prepared?

Living Probate in Colorado: How Well Are You Prepared to Avoid It?

All of us hope to enjoy an active, intellectually stimulating life for the duration we are alive. However, prolonged incapacitation due to illness or injury can happen at any time.

In fact, just over 1 in 4 of today’s 20 year-olds will become disabled before they retire. Recent data indicates that 52 million adults in the United States are providing care for a loved one that has a disability or illness. More than half of care recipients (56%) are under age 75, and almost one-third (28%) are under age 50.

Without proper planning, such a situation can become financially ruinous, allowing the government to take assets accumulated over a lifetime of hard work to pay for the long-term care needs of the incapacitated individual. “Living probate” refers to this increasingly common scenario.

At The Limbaugh Law Firm, we support your decisions through professional guidance and an ongoing commitment to meeting your needs. We believe in being proactive, preventing “living probate” through comprehensive, individualized planning. We empower you to help yourself and your loved ones live with a sense of dignity and security.

Take this short quiz to help you think through the issues you might be facing right now or raise your awareness of issues that you may face someday. Know that when you are ready to contact us, you will not have to face the challenge of avoiding “living probate” alone.

Please answer “True” or “False”:

1. My medical and general powers of attorney were signed within the past five years.
2. My primary agents are willing and able to serve if needed.
3. My back-up agents are willing and able to serve if needed.
4. My agents know my wishes or can easily learn what I want or need them to do.
5. I have written instructions for my agents to follow so that they can take care of the things that matter most to me.
6. I have a “Living Will’ that lets my doctors and family know what to do should I be in a “terminal” condition.
7. I have a HIPAA release allowing my medical agent to obtain my medical records.
8. My immediate family members know who my agents are and are willing to help my agents.
9. I have a plan in place to provide for my dependents if I am no longer able to care for myself.

If you answered “False” to any of the above questions, you may find yourself facing problems with “Living Probate”. Fortunately, these problems can be avoided with good planning. Please contact us today at The Limbaugh Law Firm to set up an appointment for a free consultation, so we can discuss your needs.

U.S. Social Security Administration, Fact Sheet, March 18, 2011

Family Caregiver Alliance, https://www.caregiver.org/