Papa Law PLLC is a law firm that focuses on estate planning and estate administration. Through personalized attention, Julie N. Papa helps individuals and families achieve their estate planning objectives. Julie also guides clients through the estate and trust administration process, including determining if probate is necessary as well as gathering and distributing assets.
Effective estate planning can promote family harmony and make the administration of your estate easier for your loved ones following your death. Comprehensive estate planning tailored to meet your personal objectives is essential to ensure that your property is distributed in accordance with your wishes after your death. In addition, it is important to designate who may make decisions for you in the event you are incapacitated. If you have minor children, you need to provide for their care.
Typically, estate planning documents include a will, financial power of attorney, health care power of attorney, a living will, personal property memorandum, declaration of disposition of last remains and, when appropriate, a revocable trust agreement. In addition to the execution of estate planning documents, a comprehensive estate plan includes instructions for updating beneficiary designations on life insurance and retirement accounts. Julie works with clients to design and implement an estate plan that will protect you and your family during your lifetime and beyond.
When a person dies, his or her possessions – real estate, money, stocks, personal belongings, etc. need to be collected, managed and distributed. Estate administration refers to the process of collecting and managing the estate, paying any debts and taxes, and distributing the remaining property to the heirs of the estate or beneficiaries designated by will or trust. The heirs of an estate in Colorado are determined by will, and if there isn’t a will, by the intestacy (which means dying without a will) laws of the state of Colorado.
Upon the loss of a loved one, Julie can guide you through the estate and trust administration process, including determining if probate is necessary, as well as gathering assets, paying the decedent’s debts and distributing the remaining assets.