At Peakstone Law Group, LLC, we understand that the Colorado probate process can be complex. This is why our probate and estate administration lawyers help professional fiduciaries who are serving as personal representatives (called an executor in other states), family members who serve as personal representatives for a Colorado estate, and beneficiaries who are concerned the personal representative is not properly administering their loved one’s probate estate. We believe your legal rights are important and should be fiercely protected.
We know that dealing with a family member’s death can be difficult, so we strive to take some of the burden off your shoulders by providing professional legal assistance with all aspects of the probate process. If you have been appointed as a personal representative or have questions about Colorado probate law, do not hesitate to contact Peakstone Law Group, LLC. You can discuss your concerns with one of our knowledgeable probate attorneys in Colorado Springs during a free consultation.
What Is Probate?
Probate is the legal process of settling a person’s financial affairs after their death. The decedent’s assets are inventoried, final debts are paid, and the remaining property is distributed to the rightful heirs or beneficiaries. If there is a written will, the court first authenticates it. The personal representative who is named in the will ensures that the instructions in the will are carried out. If there is no will, Colorado’s default rules of intestacy are followed.
What Is the Colorado Probate Process?
The Colorado probate process involves many intricate steps and rules. This process often involves:
- Gathering and protecting the decedent’s assets
- Creating an inventory of the decedent’s assets
- Paying the expenses of the decedent’s last illness and burial
- Notifying creditors and heirs of the decedent’s death and the personal representative’s appointment
- Paying valid creditor claims
- Filing the estate’s tax return
- Distributing the remaining assets to the beneficiaries or heirs
- Closing the probate estate
Our Colorado Springs probate lawyers can assist you with these tasks and ensure that you uphold all of the duties the law requires of you.
What Is a Personal Representative and Their Role?
Colorado wills generally nominate a personal representative (executor) who is responsible for acting on the estate’s behalf. This person is the general point of contact for the probate case. They wrap up the decedent’s financial affairs, pay claims from the estate’s assets, and distribute the remaining assets to the heirs or beneficiaries.
Depending on the type of probate case, the personal representative may be supervised by the court or might conduct the administration without court supervision. In any case, the personal representative is considered a fiduciary who must act in the estate’s best interests. The probate and administration lawyers at Peakstone Law Group, LLC can guide personal representatives through their obligations.
Out of State Probate Representation
In some cases, the personal representative or beneficiary who needs legal representation lives outside Colorado. Our probate law firm can provide the legal assistance you need to help navigate the process and protect your legal rights. Our goal is to administer the estate in the most cost-efficient manner possible and help our out-of-state clients avoid having to travel to Colorado if they don’t want to.