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Estate Planning Questions Answered With Clarity and Confidence

Estate Planning, Wills, Trusts, and Probate in Boulder County

At Gitkind Law Firm, we believe estate planning should be understandable — not intimidating. Below are the questions we hear most often from families in Boulder, Louisville, Lafayette, and across Boulder County. If you don’t see your question here, the best next step is a conversation. The initial consultation is always at no charge.

Getting Started

Do I really need an estate plan?

Yes — almost everyone benefits from having one, regardless of age or wealth. An estate plan determines who handles your finances if you’re incapacitated, who makes medical decisions for you, who raises your children if something happens to you, and how your assets pass to the people you love. Without one, Colorado’s default rules make those decisions for you — and the outcome may not match your wishes.

The right time is before you need it. Most people intend to get around to it eventually, but accidents, illness, and unexpected events don’t wait for a convenient moment. If you own a home, have children, have a partner, or have assets you care about, the time is now. The process is faster and more straightforward than most people expect.

For most Boulder County families, a complete estate plan can be put in place in one or two meetings. The first consultation is a conversation — no paperwork, no commitment. After that, a design meeting maps out your plan, documents are drafted and reviewed, and you sign. Start to finish, most plans are completed efficiently and without unnecessary delays.
You don’t need to arrive with everything organized. It’s helpful to have a general sense of your assets — real estate, financial accounts, retirement accounts, life insurance — and to think about who you’d consider for key roles like executor, trustee, guardian, and agent under a power of attorney. Any existing estate planning documents are worth bringing, even if they’re outdated. We’ll provide you with an Estate Plan Organizer to help you summarize your estate assets.
For most individuals and families, a complete estate plan falls somewhere in the range of $1,500 to $5,000, depending on complexity. Simple will-based plans tend to be at the lower end; trust-based plans with more sophisticated provisions tend to be higher. At Gitkind Law Firm, the first consultation is at no charge, and Andy will quote you an exact fixed fee before any work begins. There are no surprises.

Wills

What does a will do?

A will directs how your assets should be distributed after you die, names a personal representative to manage your estate, and — critically for parents — nominates a guardian for minor children. Without a will, Colorado’s intestacy laws make those decisions for you.
Yes — almost always. Even with a revocable living trust, you need what’s called a pour-over will. This document acts as a safety net, capturing any assets that weren’t transferred into the trust and directing them to flow into it at your death. It’s also the document where you name a guardian for minor children, which a trust cannot do.
In Colorado, a valid will must be in writing, signed by the person making it, and witnessed by two individuals who sign in the presence of the testator. Colorado also recognizes holographic wills — wills entirely in the testator’s own handwriting — though these carry risks if the language isn’t precise. Working with an experienced wills attorney ensures the document is properly prepared and unambiguous.
No. A will typically must go through the probate process in Colorado before your wishes can be carried out. If avoiding probate is a priority, a revocable living trust — properly funded — is generally the better tool. Andy can help you understand which approach makes sense for your situation.
Colorado’s intestacy laws determine who inherits your property — following a specific order of priority that may not reflect your wishes. Unmarried partners inherit nothing. Minor children’s guardianship goes to a judge’s discretion. Assets may pass in ways you never intended, particularly in blended families. A will ensures your intentions are documented and followed.
After any major life event — marriage, divorce, the birth or adoption of a child, a significant change in assets, a move, the death of someone named in your plan, or changes in your chosen personal representative or guardian. As a general rule, review your plan every three to five years even without a triggering event.

Trusts

What is a revocable living trust?

A revocable living trust is a legal arrangement in which you transfer ownership of your assets to the trust during your lifetime. You typically serve as your own trustee while you’re alive and well, so nothing about your daily financial life changes. At death, assets held in the trust pass directly to your beneficiaries without court involvement. During incapacity, a successor trustee can step in and manage your affairs without the need for a conservatorship.
Not everyone does, but many families benefit from one. A trust often makes sense if you own real estate — particularly in multiple states — want to avoid probate, have minor children or beneficiaries who need structure around how they receive assets, value privacy, or want a plan that addresses incapacity as well as death. If you’re not sure, that’s exactly what the initial consultation is for.
A will takes effect only at death and must go through probate. A trust takes effect immediately, addresses both incapacity and death, and allows assets to pass without court involvement. Wills are public record once filed with probate court; trusts are private. A trust typically costs more upfront but can save your family significant time and expense by avoiding probate. Most complete estate plans include both.
Funding a trust means transferring your assets into the trust’s name — re-titling real estate, transferring financial accounts, and updating beneficiary designations where appropriate. A trust that isn’t funded won’t avoid probate for the assets left outside it. Funding is an essential part of the process, and we walk every client through it carefully.
Yes. A trust allows you to control how and when your children receive assets — specifying that funds be used for education, health, and support, with a trustee managing the money, and that remaining assets be distributed at ages you choose rather than automatically at 18. This also protects assets from creditors and poor decisions during the years when children are still developing financial judgment.
If you become unable to manage your affairs, your successor trustee steps in and manages the trust assets on your behalf — paying bills, maintaining property, and keeping your financial life moving — without any court involvement. This is one of the most important benefits of a properly structured trust.

Probate

What is probate?

Probate is the court-supervised process of settling a deceased person’s estate — confirming who has authority to act, identifying and valuing assets, paying outstanding debts and taxes, and distributing what remains to beneficiaries. It applies whether or not a person had a will.
For a straightforward informal probate with no disputes, the process typically takes six months to a year. Informal estates may be distributed within several months but cannot be closed in less than nine months. More complex estates — those with disputes, business interests, out-of-state property, or significant tax issues — can take considerably longer.
Costs vary by estate size and complexity, but typical expenses include court filing fees, publication fees, attorney fees, personal representative compensation, and appraisal costs. Attorney fees in Colorado probate are generally billed at an hourly rate. 
For estates over $400,000, Colorado probate costs typically run between ½% to 3% of the estate’s value—sometimes more for complex situations.
Not always. Assets that pass by beneficiary designation, jointly owned property with right of survivorship, assets held in a trust, and payable-on-death accounts all transfer outside of probate. Colorado also has simplified procedures for smaller estates. However, assets owned in a deceased person’s name alone — without a named beneficiary — typically require probate.
Informal probate is the most common path for straightforward estates with a valid will and no disputes. It involves less court supervision and is handled largely by the personal representative. Formal probate is required when there are contested issues — questions about the will, unclear heirs, or disagreements about administration. Having experienced counsel in either situation helps the process move efficiently.
A personal representative — called an executor in many other states — is the person appointed to administer the estate. Their responsibilities include gathering assets, notifying creditors, managing estate property, filing tax returns, and distributing assets to beneficiaries. If there’s a will, it typically nominates this person. Choosing the right personal representative is one of the most important decisions in your estate plan.

Powers of Attorney and Healthcare Documents

What is a power of attorney?

A financial power of attorney authorizes a person you choose — called your agent — to manage your financial affairs if you become unable to do so yourself. This covers paying bills, managing investments, filing tax returns, and handling real estate transactions. Without one, your family may need to go to court to establish a conservatorship just to manage basic financial matters on your behalf.
A healthcare power of attorney designates someone to make medical decisions for you if you’re unable to communicate or make decisions for yourself. This is one of the most personal documents in an estate plan — your agent needs to know your values and priorities when it comes to medical care.
An advance directive — sometimes called a living will — expresses your wishes about end-of-life care. It addresses whether you want life-sustaining treatment continued if you are in a terminal condition and cannot communicate. This document speaks for you when you cannot speak for yourself and spares your family from having to make an agonizing decision without knowing what you would have wanted.
HIPAA is the federal health privacy law that restricts who can access your medical information. A HIPAA authorization allows designated family members or trusted individuals to receive medical information about you from healthcare providers. Without it, a doctor may refuse to discuss your condition even with a spouse or adult child.

Taxes

Does Colorado have an estate tax?

No. Colorado repealed its state estate tax in 2005. If you live in Boulder County and pass away, your estate will not owe any tax to the state of Colorado based on its size alone.
No. Colorado has never had a state inheritance tax. If you inherit money, property, or other assets from a Colorado resident, you will not owe Colorado any tax simply for receiving that inheritance.
The federal estate tax applies to estates above the current exemption threshold. For most Colorado families, the federal estate tax is not a concern — but for families with significant assets, it is worth discussing with your attorney, particularly given recent changes to the exemption amount. Andy can help you understand how the current rules apply to your situation.
No. Colorado has no state gift tax. The only gift tax considerations for Colorado residents are at the federal level.
The annual gift tax exclusion for 2026 is $19,000 per recipient. You can give up to that amount to any number of people each year without gift tax implications and without filing a gift tax return. Married couples can combine their exclusions to give $38,000 per recipient per year.

Working with Andy Gitkind

Why should I work with a dedicated estate planning attorney rather than a general practitioner?

Estate planning is a specialized field. An attorney who dedicates their practice exclusively to wills, trusts, estates, and probate brings more depth, more familiarity with edge cases, and more current knowledge of Colorado law than a general practitioner who handles estate planning occasionally alongside other areas. Andy Gitkind has focused exclusively on estate planning since opening his firm in 2004.
Yes — when helpful. A good estate plan doesn’t exist in a vacuum. Beneficiary designations, tax considerations, retirement accounts, real estate, and business interests all matter. Gitkind Law Firm aims to collaborate with your financial advisor and CPA so the plan fits the full picture, not just the legal paperwork.
Gitkind Law Firm serves individuals and families throughout Boulder County, including Boulder, Louisville, Lafayette, and surrounding communities. Andy’s office is located at 801 Main St., Suite 230, Louisville, CO 80027.

The best first step is a conversation. The initial consultation with Andy Gitkind is always at no charge — no paperwork, no pressure, no commitment. Call 303-960-6628 or visit gitkindlaw.com to schedule.

Have additional questions?

Gitkind Law Firm, P.C. | 801 Main St., Suite 230, Louisville, CO 80027 | 303-960-6628 | gitkindlaw.com
Serving families throughout Boulder County, including Boulder, Louisville, and Lafayette.

What Our Clients Say:

"Andy went through everything, literally page by page, explaining the legalese and answering our questions. We never felt rushed and he made sure that any question we had was answered completely to our satisfaction and that we really did understand."
Estate Planning Frequently Asked Questions
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