The Probate Process in Colorado
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Probate is the process that oversees the distribution of the deceased estate
according to the terms of the will or pursuant to Colorado statutes. Probate
is needed in order to collect debts owed to the deceased person; settle
a dispute involving assets of the deceased person; resolve disputes regarding
the validity of the
deceased person's will; and to clear title to land, stocks and bonds, accounts, and other assets.
Probate is not required when the deceased person:
- Owned very little assets
- The deceased person owned assets jointly with another person that passed
automatically to the surviving co-owner
- The deceased person owned assets that named another person as a beneficiary
There are several steps in administering a decedent's estate which
are outlined below. Jorgensen, Brownell & Pepin, P.C. can assist you
with every facet of the probate process. A personal representative will
need to take charge of and manage the decedent's probate assets, pay
creditors, and distribute any remaining property to the heirs and beneficiaries.
Appointing or choosing the personal representative is a vital step in
the probate process. The personal representative controls the pace of
the probate process. Our Longmont probate lawyers will assist you with
the probate process, including getting appointed as the personal representative.
What Does the Personal Representative Do?
Estate administration begins with a personal representative collecting
all of the decedent's probate assets. The personal representative
must preserve all of the decedent's probate assets for the benefit
of the creditors and the heirs of beneficiaries. Additionally, the personal
representative must manage the decedent's probate assets, such as sell or
rent estate property, run business, etc. The personal representative must prepare an inventory
of all of the decedent's probate assets and indicate the fair market
value of each asset. Finally, the personal representative must alert the
decedent's creditors that the decedent died and that the court has
appointed a personal representative in order for the creditors to take
the proper steps to present their claims and to get paid.
For Legal Guidance, Contact Jorgensen, Brownell & Pepin, P.C.
Our firm can assist you with every facet of the probate process including
filing the appropriate documents, collecting, managing and preserving
probate assets, and ensuring that the decedent's probate assets are distributed properly
to the creditors and heirs of beneficiaries. Our attorneys are experienced
in ensuring that the administration of one's estate proceeds as easily
To learn more about how we can guide you through the probate process, call us today.