People in Colorado may have executed a written will that meets all the necessary legal formalities, including being witnessed and signed by the appropriate number of individuals. However, not everyone takes this essential step. Sometimes, a person hand-writes a will without witnesses or may even try to verbalize their dying wishes. It is important to understand whether these types of informal wills will be honored in Colorado.
Music fans in Colorado Springs may remember the death of music legend Aretha Franklin last August. At the time of her death, it seemed that Franklin passed away without executing a will. However, three holographic wills were recently uncovered in her home. These wills have been filed in probate court and are awaiting further action at a June 12 hearing on the matter.
Relationships between spouses in Colorado can be interesting, to say the least. Some are very traditional, while others could be described as unconventional. The same can be said when it comes to estate planning and your spouse. Many people want to include provisions in their wills that leave, at least a portion of their estate, to their surviving spouse. However, for a variety of personal reasons, a spouse may try to leave their partner nothing should they pass on before their partner does.
Losing a loved one is never easy. Learning that your loved one left behind a will may initially be a source of comfort. However, this relief may soon be extinguished if an heir believes that the will was improperly executed or should otherwise be invalidated. However, simply disagreeing with the terms of a will is generally not enough to challenge it in Colorado. Other more substantial grounds are needed to challenge a will.
When a person in Colorado wishes to create an estate plan, oftentimes the first document they execute is a will. In general, a will can be divided into four parts, with each part having several main clauses. We will review these clauses, but as always, readers should note that this post does not provide legal advice.
Personal relationships between spouses or between parents and children can be complicated. Sometimes, for a variety of reasons, a person in our state may wish to make sure their final wishes are honored by their spouse or child by inserting a "no-contest" cause in their will. A no-contest clause generally states that a person will be disinherited if they challenge the contents of the testator's will. However, are such clauses enforceable here?
Many people in Colorado may have seen people in movies or on television reciting, "I, being of sound mind and body..." to execute their last will and testament. However, in general, there are three types of wills that a person could execute: typewritten and witnessed wills, holographic wills and nuncupative wills. Which types of wills are legally acceptable is dependent on state law.
People in Colorado Springs may have seen scenes in movies or on television where a dying person makes a will, often with the phrase, "I, being of sound mind and body ..." However, these portrayals of executing a will aren't always accurate. First, an adult of any age who is in good health can execute a will -- they need not be elderly or at death's door. Second, certain legal formalities must be followed in order for a will to be made legally sound and enforceable.
No one in Colorado Springs truly wants to think of their eventual death. However, death is a certainty no matter what a person's age or wealth. Therefore, it is important to plan for what happens to your assets after you die. Many people choose to accomplish this goal by executing a will. However, they should keep in mind that certain assets cannot be disposed of in a will.