This individual will make decisions regarding the principal’s property and finances. The principal can continue by electing another party known as a financial agent. While not legally required, the form should be signed in the presence of two (2) disinterested witnesses and notarized by an officer of the State. Signing Requirements – Requires the principal’s signature or the signature of another individual directed by the principal to sign on their behalf.It also allows the principal to specify instructions for the agent concerning any additional medical treatments, life-sustaining procedures, or other provisions they may require. Medical Durable Power of Attorney – This is the official document used to appoint the principal’s primary and alternate medical surrogates. Once selected, the health care surrogate will have permission to accept, refuse, or stop any medical care administered to the principal. This individual will be responsible for communicating the principal’s health care wishes when he or she is unable to express their own decisions. The documents available in this checklist should be reviewed by a licensed attorney before being signed or filed with the applicable government agencies.Ĭolorado residents should begin the estate planning process by choosing a health care surrogate (a.k.a. Navigating through the guide below will provide insight into the process of preparing one’s estate for possible illness and death. Choose the Beneficiaries and Designate Assets.How to Create an Estate Plan in Colorado (6 steps) After ensuring the security of their well-being, the principal can determine how their assets will be distributed by completing a Last Will and Testament or a Revocable Living Trust. Such administrative provisions will be outlined in a Medical Durable Power of Attorney and a Durable (Financial) Power of Attorney. The owner of the estate (the “principal”) can define the health care and financial services they wish to have administered in medical emergencies. A Colorado estate planning checklist is a list of useful documents for individuals preparing their estate for death or mental incapacitation.
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