Serving Colorado Families And Businesses With Dignity In Times Of Need
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...
In developing a comprehensive estate plan, one major issue is to see that your family members or the personal representative of your estate will be aware of the scope of your digital assets. Otherwise, they would not know where to look beyond the usual resources like...
While caught up in divorce proceedings, it is easy to forget the importance of updating your estate plan. While it is likely that your spouse was the main beneficiary and fiduciary (person given legal responsibilities in your affairs) in your estate plan, it is...
A key decision when writing a will is the choice of who will serve as the personal representative of your estate after your death. The role of the personal representative – also called an executor – is to administer your estate, including wrapping up your...
