Life can change quickly, and the best gift you can give your family is clarity. A foundational estate plan ensures your wishes are honored, your children are protected, and your loved ones avoid unnecessary court involvement.
At Light Law, we help Colorado families build peace of mind through simple, well-crafted planning.
Below are the essential components of a complete, foundational estate plan.
6. HIPAA Release Authorization
A HIPAA release allows your chosen individuals to access medical information and communicate with your healthcare providers. Without this release, even close family members may be denied access to essential information.
7. Guardianship Designations for Minor Children
For parents, naming guardians is one of the most critical parts of an estate plan. This includes:
Permanent long-term guardians
Short-term/emergency guardians
People authorized to pick up children from school or care for them temporarily
Without these designations, the court may decide who cares for your children—even if it is not your first choice.
8. Asset Titling & Beneficiary Designations
Even the best estate plan won’t work properly unless your assets are correctly aligned. This may include updating:
Bank and investment account titles
Real estate deeds
Beneficiary forms on retirement accounts and life insurance
Business ownership documents
Light Law assists with trust funding and asset alignment so your plan actually works the way you intend.
9. Instructions for Personal Property
Many families choose to provide written guidance on:
Family heirlooms
Sentimental items
Personal gifts or keepsakes
Items meant for specific children or relatives
This helps avoid confusion or conflict later.
10. Digital Asset Planning
Modern plans now also include access to:
Passwords and online accounts
Cloud storage
Social media
Digital currency or crypto
Subscription services
Planning for digital assets prevents loss, fraud, and confusion.
1. Last Will & Testament
A Will outlines how your assets should be distributed when you pass away. It also allows you to:
Name guardians for your minor children
Appoint a personal representative (executor)
Direct how personal items and sentimental belongings should be handled
Without a Will, Colorado law decides who receives your assets—and the process often becomes more costly and stressful for your family.
2. Revocable Living Trust (Optional but Highly Recommended)
A Revocable Living Trust helps families:
Avoid probate
Keep assets private
Manage assets for minor or young adult children
Plan for incapacity
Provide long-term protection for blended families or special circumstances
Many Colorado families choose a Trust as the core of their estate plan because it keeps the process far smoother for loved ones.
3. Financial Power of Attorney
A Durable Financial Power of Attorney allows you to name someone you trust to manage financial matters if you become incapacitated, including:
Paying bills
Managing accounts
Filing taxes
Handling business interests
Making financial decisions on your behalf
Without this document, your family may need to pursue an expensive and time-consuming court guardianship.
4. Medical Power of Attorney
A Medical Power of Attorney names the person who will make healthcare decisions if you cannot speak for yourself. They can:
Work with doctors
Approve or decline treatments
Access medical records
Advocate for your best interests
Choosing a trusted healthcare agent is one of the most important decisions in any estate plan.
5. Living Will (Advance Healthcare Directive)
A Living Will outlines your preferences regarding life-sustaining treatment if you are facing a terminal or irreversible condition. It helps your family:
Understand your wishes
Avoid stressful guesswork
Ensure medical decisions reflect your values
For many families, this document offers clarity and peace during difficult medical situations.