Colorado Probate Process Attorneys
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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 Colorado 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 the decedent's 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 as possible.
To learn more about how we can guide you through the probate process,call us today.