Steve had always believed that life should be about more than just accumulating wealth—it was about the experiences you create, the wisdom you pass down, and the impact you leave on the people you love. A lifelong adventurer, Steve spent his weekends hiking through Colorado’s breathtaking trails, teaching his kids and grandkids how to read a topographic map, start a fire, and respect nature.
To him, legacy wasn’t just about money—it was about values, traditions, and making sure his family had the tools they needed to succeed, long after he was gone.
So, when Steve sat down with his family to talk about his estate plan, he expected it to be simple. He planned to leave his assets equally to his children, include something for his grandchildren, and make a donation to the environmental foundation that had meant so much to him. But he made one major mistake—he assumed his will alone would be enough to protect his legacy.
The Consequences of Failing to Plan Properly
When Steve passed away unexpectedly, his family found themselves in a legal mess. Even though his will stated how he wanted things distributed, everything still had to go through probate, a long and expensive court process that dragged on for nearly two years.
The family cabin—a place where Steve had taken his children and grandchildren on countless weekend trips—was stuck in limbo. One of his children wanted to sell it, while the others wanted to keep it, leading to bitter disputes.
Steve’s donation to the environmental foundation? It got tangled up in the probate process, and after legal fees and unexpected estate taxes, it was significantly less than what he had intended.
Worst of all, the inheritance he left behind wasn’t structured properly. Some of his grandchildren received lump sums they weren’t ready to manage, while others lost a significant portion of their inheritance to taxes. The carefully crafted legacy Steve had envisioned slowly unraveled—all because he hadn’t set up the right legal structures.
A Different Path: The Power of Legacy Planning
Now, let’s contrast Steve’s situation with another family—one that took a different approach.
When Linda, another Colorado native, started planning for her estate, she thought about the kind of legacy she truly wanted to leave. She didn’t want her family to go through long legal battles. She didn’t want her wealth to disappear within a generation. And most importantly, she wanted to ensure that her values, traditions, and financial security were preserved for years to come.
Linda worked with an estate planning attorney to set up a trust rather than relying on a simple will. This made all the difference.
The Family Cabin Was Protected – Instead of leaving the cabin to her children outright, she placed it in a trust with clear instructions. The trust allowed her children and grandchildren to continue using the cabin without one person having the power to sell it. If they ever decided to sell as a group, the proceeds would be evenly distributed.
Her Grandchildren’s Inheritance Was Structured for Their Future – Rather than giving lump sums, which could be wasted or mismanaged, the trust released funds at key life milestones—college graduation, buying a home, starting a business. This ensured they had financial stability at the right moments in life.
Charitable Giving Was Set in Stone – Linda’s passion for wildlife conservation was something she wanted to carry on after she was gone. Her trust included a dedicated charitable giving plan, ensuring that her chosen organizations would receive yearly contributions, keeping her impact alive for generations.
Avoiding Probate and Reducing Taxes – Because Linda had planned properly, her estate bypassed probate entirely, allowing her family to access their inheritance immediately without long delays or excessive legal fees. She also structured her estate in a way that reduced estate taxes, maximizing what her family would receive.
What Can We Learn from These Two Stories?
Both Steve and Linda had the same goals—to leave a legacy that benefited their family and supported the causes they loved. But their outcomes were vastly different because of how they structured their estate plans.
Steve assumed a will was enough, and as a result, his estate got tied up in court, his family fought over assets, and his charitable donation was reduced.
Linda took a strategic approach, using trusts and structured giving to ensure that her family and favorite causes would be protected long after she was gone.
Mapping Out Your Own Legacy
When you think about your own legacy, ask yourself:
Do you want to pass down your family home, business, or other assets without disputes?
Would you prefer your heirs to receive structured inheritances rather than lump sums?
Are you passionate about charitable giving and want to ensure it continues after you're gone?
Do you want your loved ones to avoid probate and receive their inheritance smoothly?
Your legacy is your compass—it should guide your family toward a secure future rather than leave them lost in uncertainty. Estate planning is about mapping out the right path now so that your loved ones don’t have to struggle later.
At Skipton Law, we understand the importance of legacy planning that goes beyond just money. We help families create a plan that preserves their values, protects their wealth, and ensures their wishes are honored.
Don’t wait until it’s too late—register for a workshop today, and let’s create a plan that secures your legacy for generations to come.