Do I need a will or a trust?
The honest answer for most Colorado families, and the three situations where a trust is worth the extra cost.
For most Colorado families, the honest answer is: a will, plus powers of attorney and a medical directive. Colorado's probate process is simpler than in many states, and a well-drafted will handles the common situations without the cost and upkeep of a trust.
When a trust is worth it
You own property in more than one state. A trust avoids a second probate in the other state.
You have a child or beneficiary with a disability. A special-needs trust protects their benefits.
You want privacy, or a long-term plan. Probate is public; a trust isn't. And a trust can hold money for a child until they're 30, not 18.
What a trust doesn't do
It doesn't reduce taxes for most families (the federal estate tax exemption is very high). It doesn't let you skip having a will — you still need a ‘pour-over’ will. And it only works if you actually move your assets into it, which is the step most people never finish.
Our usual advice: start with a will and the directives. If one of the three exceptions applies, we'll tell you so at the first meeting and quote the trust in writing.