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In the complex world of estate administration, two terms that often arise are “executor” and “administrator.” These individuals play crucial roles in managing the affairs of someone who has passed away. While these two individuals share some similarities, their...
Trusts can be excellent tools, but they are only as good as the trustee someone chooses to administer them. A trustee has ultimate control over the assets in a trust and the access other people have to that property. Many people planning a trust spend a lot of time...
As you've browsed our website, you've likely uncovered how personal representatives of estates have various responsibilities that they must fulfill in their role. These include inventorying and safeguarding testators' assets, paying off their creditors, filing their...
Adding a trust to your estate plan can protect your loved ones and give you more control over your legacy. Unfortunately, a trust is often only as good as the trustee you name. If you choose someone who turns out to be unethical and who has no qualms about stealing...
One of the most important things to consider when creating an estate plan is who to name as your estate executor. It is a big responsibility with potentially minimal reward. You could choose a family member or friend. Alternatively, you could opt for someone who does...
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...
The responsibilities of the personal representative of an estate are not ones you should take lightly. The role requires a commitment to process and detail, and strict adherence to Colorado probate laws. What happens if you neglect these duties?You may find yourself...
Since March, when Americans started taking safety precautions to prevent the spread of the coronavirus, many business and personal interactions have moved online to minimize face-to-face contact. Many states – including Colorado – reacted by issuing...
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...
It is never too early or too late in life to put your affairs in order. In part 1 of this series of posts, we talked about the importance of a financial power of attorney. Today, we consider advanced care planning (ACP).The Colorado Department of Public Health and...