The role of a personal representative is vital in the administration of an estate. This individual takes on a host of responsibilities, following the wishes of the decedent while navigating the legal system. It is an important job with many moving parts.A key piece of...
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Estate Administration & Probate
Be sure beneficiaries are correct for assets that transfer on death
Your estate plan may use a variety of documents like a will or trust to transfer property to others or for the benefit of others during your life or at death. One way that assets can transfer is through a beneficiary designation on particular kinds of accounts or...
Consider a will, the basic building block of estate planning, part 3
A will is probably the part of an estate plan with which Coloradans are most familiar. Today we will talk about how a will can help with the orderly winding down of your affairs after your death in the way that you direct. Distribution of propertyMost people first...
Gray divorce and estate planning: 3 considerations
The divorce rate amongst those over the age of 50 is on the rise. This poses a unique set of issues, including the impact of the divorce on estate planning. Three specific ways divorce can impact estate planning considerations in these situations include: Contention....
What happens if you die without a clear estate plan?
Putting together an estate plan can help to reduce the risk of conflict when it comes time to manage a loved one’s estate. The creator’s plan can provide loved ones with guidance on the distribution of the assets within the estate.But what happens when...
Revisit named beneficiaries on accounts payable upon your death
Part of a comprehensive estate plan is coordinating your account beneficiary designations with your will, trusts, gifting and other estate planning techniques. In other words, when you do your 2020 estate plan checkup, you and your attorney should sit down and look...
Holidays and a new year: Time to think about estate plans
Creating safety nets and directing your affairs after death are not always top of list. But in this season of togetherness with family and evaluating who and what is important in your life, estate planning really is a logical focus. If you have avoided futures...
What is a Colorado spouse’s elective share?
Colorado law provides that when a surviving spouse is disinherited by or receives little under the terms of their deceased spouse’s will, the survivor has the right to take an elective share of the estate instead of what the will provides. Basically, and from a...
Colorado court analyzes omitted spouse share statute
Colorado probate law provides a legal remedy for a surviving spouse when the other spouse dies with a will executed before the marriage that does not provide for the surviving spouse. In May, the Colorado Court of Appeals decided that a surviving spouse was not...
Comprehensive organizational skills a big plus for testators
Many people have heard of the recent phenomenon of “döstädning” — Swedish death cleaning. The idea is that a person should sort through and pare down their possessions in anticipation of death so that family will not have to do it.Death...