What steps should be taken to negotiate and settle a creditor claim during probate in Colorado?
Disclaimer: This article provides general information about Colorado probate law and does not constitute legal advice. Consult a qualified attorney for guidance on your specific situation. Detailed Answer When a decedent’s estate enters probate in Colorado, the personal representative must address valid creditor claims before distributing assets. Following these steps helps negotiate and settle claims […]
Read article →What documentation should an executor gather to respond to a creditor’s settlement demand in Colorado?
Disclaimer: This article provides educational information only and is not legal advice. Detailed Answer As an executor (personal representative) handling an estate in Colorado, you must respond promptly to any creditor’s settlement demand. Colorado law requires you to allow or reject claims within three months after the first publication of notice to creditors (C.R.S. § […]
Read article →How Can an Executor Challenge a Creditor Claim on Predatory Lending Grounds for an Elderly Decedent in CO?
Detailed Answer When an elderly decedent’s estate faces a creditor claim that appears to involve predatory lending, an executor in Colorado can challenge the claim by following these steps: 1. File a Timely Objection and Disallow the Claim Under C.R.S. § 15-12-802, creditors must present claims within two months after first publication of notice to […]
Read article →How to Access and Withdraw Money in Deceased Person’s Bank Account During Probate in Colorado
Disclaimer: This article provides general information under Colorado law and is not legal advice. Consult an attorney for advice specific to your situation. Detailed Answer When someone dies owning funds in a bank account, those assets become part of the decedent’s estate. In Colorado, you generally access and withdraw those funds through either a small […]
Read article →What Factors Determine the Total Cost of Administering an Estate in Colorado?
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for guidance tailored to your situation. Detailed Answer Administering an estate in Colorado involves several stages under the Colorado Probate Code (Title 15, C.R.S.). Each stage carries fees and expenses. Below are the primary factors that influence […]
Read article →How can original wills and codicils be located and verified before opening probate in Colorado?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. How to Locate Original Wills and Codicils Before Opening Probate in Colorado Detailed Answer 1. Contact the Decedent’s Attorney and Family Start by asking close family members and the decedent’s regular estate planning attorney if they hold the original will or […]
Read article →Which documents and certificates should be collected to begin estate administration in Colorado?
Key Documents and Certificates to Begin Estate Administration in Colorado Disclaimer: This article provides general information about Colorado estate administration. It is not legal advice. Detailed Answer To open probate and manage an estate in Colorado, the personal representative must gather essential documents and certificates. These items help the court verify the decedent’s death, identify […]
Read article →How Can Estate Expenses and Ongoing Bills Be Managed During the Probate Process in CO?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Consult a qualified attorney in Colorado for guidance on your specific situation. Detailed Answer Navigating probate in Colorado often involves ongoing bills—mortgage, utilities, insurance—and final estate expenses like funeral costs and administration fees. A personal representative (PR) handles these obligations under […]
Read article →What options exist for selling or transferring real property when an heir is a minor child and cannot consent? – CO
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Detailed Answer When a minor inherits real property in Colorado, they lack legal capacity to sign deeds or consent to sales until they reach age 18. Colorado law offers several pathways to sell or transfer a minor heir’s interest in real […]
Read article →How to Enforce Distribution of Life Insurance Proceeds in Probate When No Beneficiary Was Designated in Colorado
Disclaimer: This article is for general informational purposes only and does not constitute legal advice. Consult a qualified attorney to address your specific situation. Detailed Answer Why Life Insurance Proceeds May Enter Probate Life insurance proceeds normally bypass probate when a valid beneficiary is named. Under Colorado law, if the insured did not designate a […]
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