Lake County Probate Attorney
Serving Clients in Lake County, Chaffee County and El Paso County, Colorado
Probate is a court-supervised process for distributing a deceased individual’s personal assets. Probate includes court filings, publication of notices, collection of assets, payment of debts and taxes, and distribution of the net assets to beneficiaries. Assets are distributed according to directions in the decedent’s will or under intestacy laws when someone dies without leaving a will. Probate is sometimes simple, but often it’s a complicated and messy legal procedure. If you’re involved in any aspect of a bequest case in Colorado, call the law offices of experienced Lake County estate planning attorney Lindsey Parlin. She will assess the details of your case and provide the legal advice you need.
TYPES OF PROBATE
In the state of Colorado, the law establishes three types of probates:
- Small estates (under $50,000, no real property): With or without a will, if you pass away with $50,000 or less in personal property and no real property, such as real estate, beneficiaries may collect your assets by filing an affidavit and then distributing assets to any other entitled beneficiaries.
- Informal probate: When a valid will (or clear intestacy) exists and no challenges are expected, the court appoints a qualified personal representative to close out the decedent’s affairs.
- Formal probate: A formal bequest may be needed when a will is contested, unclear, invalid, or when there are other challenges to the will’s administration (such as hard-to-locate heirs or unsettled property disputes). The personal representative may or may not be granted wide discretion by the court.
Colorado requires the personal representative to contact known and possible creditors of the decedent and to pay legitimate debts, including any unpaid tax payments. The personal representative may deal with valuing, consolidating, or liquidating the estate’s assets. After creditors are paid, the personal representative may distribute assets to beneficiaries. When all of the assets are transferred out of the decedent’s name, all legitimate claims are satisfied, all beneficiaries’ interests are satisfied, and all applicable taxes are paid, a probate case can be closed.
HIRE A COMMITTED PROBATE ATTORNEY
Probate cases can be lengthy and confusing. It’s often exasperating and sometimes emotional as you recover from the death of a loved one; Chaffee County probate attorney Lindsey Parlin understands this. Whether you’re creating a will or challenging a will, the wisest move is to take your concerns to a good Colorado probate lawyer. Lindsey Parlin is that lawyer. Ms. Parlin provides free initial consultations both at her Leadville office and offsite on request; evening and weekend appointments are also available on request. She represents bequest clients throughout Park, Summit, El Paso, Lake, and Chafee counties. Her law firm assists with a number of services including probate, estate planning, estate administration, probate administration, and the development of wills and trusts. Get the help you need from an experienced El Paso County probate attorney right now. For questions regarding a trust, will, guardianship or probate issue, please complete the information form on the contact page on this site or call the law offices of Lindsey Parlin at 719-310-3703.