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Estate planning is a crucial move in life for both younger and older adults. It is beneficial in different ways, from leaving inheritances for your loved ones to stating your medical wishes should you become incapacitated. However, the significance of your plan may...
If you feel cheated when the contents of someone’s will are revealed, your first instinct might be to contest it. If you wish to do so and are one of the people eligible to do so (typically beneficiaries or those who would benefit if there were no will), rather than...
Probate litigation is sometimes necessary despite the best-laid plans of the testator. When beneficiaries believe that an executor has embezzled or made terrible decisions, they could challenge their position or ask the courts to stop them from transferring certain...
When an estate is going through probate, the executor administers everything, from consolidating assets to paying off debts. Essentially, the estate is under their control. However, an executor cannot do as they please with the estate. The law requires them to act in...
Probate is the process of authenticating a person’s will after they have passed away. The process is done through the court. It includes paying the deceased’s final taxes and bills, confirming the value of assets, and distributing anything that remains to their loved...
While many people have a general idea that a will has to be filed with the probate court after someone's passing, they typically don't understand what happens after that. That's when the bulk of a personal representative's responsibilities begin. A personal...
Many Americans spend their entire working lives paying off the principal balance of their mortgage and accruing equity in their homes. When people die, they frequently leave the home where they lived to their children or other heirs. If no one intends to live in the...
When you are made the personal representative of someone's estate, one of your jobs will be to settle any debts. You need to take care about how you do this. Do not be tempted to prioritize those who shout the loudest. Under Colorado law, there is a specific set of...
An estate executor has the important job of upholding the estate plan. It may be just a simple will, or it may be a complex plan with numerous assets. Either way, it is the executor’s job to adhere to the wishes expressed in those documents. For instance, the...
In part 1 of this post, we talked about the importance of taking inventory of your digital assets and making long-term decisions about what you want to happen to each one, either before or after your death. We also discussed the kinds of digital assets that people...