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Posts tagged "Probate"

Are there ways to bypass the probate process?

Many Coloradans may wish to avoid having their estate go through probate upon their death. After all, the probate process takes time and costs money, thus diminishing the value of their estate. However, there are certain ways property can be passed on to your loved ones while bypassing the probate process.

What are the duties of a personal representative in Colorado?

When a person in Colorado dies, any assets that are not placed in a trust, do not have a designated beneficiary and are owned solely by the deceased must go through the probate process. When this happens, a personal representative will be assigned by the court. This person's role as a fiduciary is to wind down the deceased's affairs and distribute the assets of the estate to the deceased's heirs.

Colorado law dictates who will inherit in absence of a will

When a person in Colorado dies without leaving behind a will or trust, this is known as dying intestate. What this means is that the deceased's estate will go through the probate process. Because there is no document stating who the deceased wants to inherit their estate, state law determines who is to inherit.

What are the three types of probate in Colorado?

Some legal processes that may seem well-known can actually be quite complex. For example, many people may have heard of the term probate but they may be surprised to hear that there are different types of probate processes. Colorado has three types of probate processes. These processes apply to both wills and intestate estates.

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