44 COOK STREET, SUITE 100, DENVER, CO 80206
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Practices

Business Law Estate Planning Probate Law Real Estate Legal Notice

Practices


The Law Office of David Urban, P.C.

A commitment to client-friendly legal excellence


Business Law

As a business owner himself, David understand the various issues that can affect businesses and how best to prevent them going forward. We take a thorough approach to each and every business we work with. This process begins with a discussion of the overall business model, the business formation/corporate structure, and the goals of the owner(s). Next we review service contracts, disclaimers, and advertisements to make sure they do not expose the business owners to unnecessary liability. Our office also reviews how disputes with clients are resolved, debt collection procedures, and we craft appropriate language in each service contract to protect the business owner while providing for a cost-effective and efficient way of resolving all disputes. Even the most risk averse business models do not ensure absolute protection against disgruntled clients, and we are always prepared to speak with opposing counsel, and negotiate claims. Additionally, the Law Office of David Urban can help your business with succession planning so your business will run smoothly even during changing times. At the end of the consultation and follow-up, we want every client to be confident that their business is well-protected against unpredictable future events.


Estate Planning

(Ranked Colorado Parent Magazine's #1 Estate Planning Attorney for 2016)

Estate planning at its core is a coordinated approach between respected advisors in a number of fields including, but not limited to, accounting, finance, insurance, and law. An estate plan is not just a will, it is a seamless coordination of plans and documents that help accomplish your goals despite the uncertainty of your future health and wealth, and an ever-changing tax environment. During the initial consultation, Attorney Urban sits down with clients to review their family structure, finances and future goals. Every client’s situation is unique and that is why David takes the time to explain and draft estate plans that conform to the intricacies of each individual’s specific needs. Our office takes the time to discuss the pros and cons of a large variety of estate planning tools at your disposal (wills, trusts, health care proxies, powers of attorneys, advance medical directives, dispositions of last remains, and others) so you can be confident that you, and your loved ones, are properly prepared for the future.

Below is a brief description of some of the documents necessary for a sound estate plan:

Will:

A Will is the legal document that directs the disposition of your assets upon your death. This document needs to be both detailed and flexible to fully accomplish your goals, despite changing asset values and an uncertain tax environment. By fully documenting your wishes, you facilitate a smoother resolution of your estate affairs, and reduce the chances that heirs will argue about your intentions.

Personal Property Memorandum:

A well-drafted Will includes provision for a Personal Property Memo. This memo is a separate document from your Will, but is incorporated into your Will by reference. The memo provides flexibility in respect to tangible personal property, and allows you to change specific gifts to beneficiaries without the formalities, and additional expense, of retaining legal counsel to draft codicils (amendments) to your Will. If your children are older, consider speaking with them to determine what items in your estate are most important to them.

Medical Power of Attorney (also known as a Health Care Proxy):

A Medical Power of Attorney gives your Health Care Agent the ability to make health and medical decisions on your behalf, if you are unable to do so. You can appoint any competent person over the age of majority as your Health Care Agent, and this will help to avoid timely and expensive court proceedings regarding your medical care.

Advance Medical Directives (also known as a Living Will):

In addition to a Medical Power of Attorney, your estate plan should include a Living Will. This is a legal document that informs your health care providers and family about your wishes with respect to life-prolonging medical treatment. Without a Living Will, decisions of this nature can be very difficult and emotionally draining on your family or loved-ones.

Financial Power of Attorney:

Protecting your financial assets is another important consideration in the event you become incapacitated. A Power of Attorney allows you to appoint someone to carry-on your financial affairs if you are unable to do so yourself. The person you appoint does not need to be a lawyer to fulfill this duty; it just needs to be someone you trust to make sound and ethical day-to-day decisions on your behalf. Once again, memorializing your intentions, while you still have the ability to do so, can avoid unnecessary court proceedings. For small business owners, this can be an especially important document.

Other Estate Planning documents to consider:

In addition to the essential documents outlined above, you may want to consider the benefits of a revocable living trust. A revocable living trust allows your assets to pass outside of probate (the court process) and keeps you in complete control of the assets while you are alive. A well-drafted trust allows the flexibility to make changes to trust assets, management and disbursement. When you pass away, the person you designate as your successor trustee simply takes over and follows your wishes. Trusts can be funded in a variety of different ways, but because of the tax treatment of different assets, we work with experienced accountants to ensure that your trust does not create adverse tax effects in the future.

If you have minor children, there are two more documents you should consider:

Revocable Children’s Trust:

If your children will be inheriting substantial assets, a children’s trust is something you should strongly consider. Children who have recently reached the age of majority often need protection from lump sum inheritances, and the age at which a child can responsibly handle large amounts of money may be different for every child. Setting up a trust with a responsible trustee will ensure that your child or children will benefit for many years to come.

Guardian Appointments:

Appointing a guardian for your children is recommended in case a situation arises where you cannot care for your children and do not have the capacity to make decisions on their behalf. In order to avoid legal battles over guardianship, you should think carefully about who you would like to look after your children, if you are unable to do so. Not only will this save time and money from unnecessary guardianship court proceedings, but it will ensure that the appropriate person is given decision-making capabilities with respect to your children.


Probate Law / Estate Administration

Losing a loved one is always difficult, but the probate/administration process does not need to be. Whether your loved one died intestate (without a Will) or with a Will, the Law Office of David Urban can help you settle his or her affairs in a timely manner. We will contact financial institutions and work closely with estate tax professions to ensure IRS filing requirements are met while minimizing tax burdens, where possible. Because we know this may be a difficult time for you, we take pride in our client-friendly approach to helping you and your family settle the estate in an effective and efficient manner. Please contact our office to set up a free consultation.


Real Estate Closings

If you are in the process of buying a new home, you want to make sure the closing is done correctly. The Law Office of David Urban can help you feel confident that your paperwork is filled out accurately, and will make sure the process is competently completed.



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