Probate Lawyer

 
in Colorado Springs

The short answer is no, but it’s generally not a good idea. An attorney does not have to write your will in Colorado. You can write your own will as long as it meets the legal requirements under Colorado law. To make a will in Colorado, you must be at least 18 years old, of sound mind, create your will in writing, and have two other people witness you as you sign it. However, you should always seek the advice of an attorney to ensure that your will meets all legal requirements and to avoid any potential issues during the will probate process.

The probate process can be complex, and there are many legal requirements to follow. As an executor, you will need to complete and file all necessary forms with the court, provide notice to creditors of the estate, and distribute estate assets according to the will or state intestacy law. While it is possible to handle this process on your own, it is always recommended to seek the advice of a lawyer who can help you avoid any potential issues during the probate process.

In Colorado, the probate process begins with filing a probate claim with the court. This involves submitting certain documents, such as a death certificate, the deceased person’s will (if they had one), and a list of their assets and debts. 

Probate can be a complicated and confusing process, so working with an experienced lawyer who can guide you through it is essential. Your lawyer can handle every aspect of the probate process, saving you considerable time and effort. They can also help you avoid common pitfalls that could land you in legal trouble or jeopardize your loved one’s estate.

Colorado has three main types of probate:

• Small probate – The simplest and quickest type of probate, reserved for estates valued at $50,000 or less with no real property. 
• Informal probate – A more common type of probate used for estates that are not eligible for small probate.
• Formal probate – The most complex type of probate, used when there are disputes over a will, questions about the validity of a will, or other complicated issues.

The probate process can be lengthy and complex, and it’s essential to work with an experienced lawyer to guide you through it. The probate process typically involves the following steps:

• Filing a probate claim with the court and submitting the necessary documents
• Identifying the deceased person’s assets and debts
• Paying off debts and taxes on behalf of the estate
• Distributing assets to beneficiaries

The timeline for probate can vary depending on the complexity of the estate, but it typically takes several months to a year or more. A lawyer can help you streamline the process and ensure your loved one’s estate receives the attention it deserves.

A last will and testament serves as the foundation for an estate plan. The testator (the person making the will) may nominate one or more people to serve as the executor of their estate after their death. The executor handles the administration of the testator’s estate, including:

• Gathering and inventorying assets
• Paying outstanding debts and estate administration expenses
• Distributing the remaining estate assets to the person’s beneficiaries or heirs

A testator can use a will to direct the distribution of estate assets to beneficiaries. They may either bequeath a percentage of their estate or a specific amount of money to a beneficiary or specifically bequeath an asset – such as a piece of real estate, vehicle, or heirloom – to a beneficiary. 

Parents of minor children can use their wills to nominate an individual or couple to serve as the guardian for their children should both parents pass away.

Every person creating an estate plan should write a will. A will allows you to nominate your preferred individual to serve as the executor or administrator of your estate after your death. Executing a will also directs that any assets in your estate upon your death go to the persons or organizations you wish, even if you’ve made other arrangements to distribute your assets after your death, such as through trusts in estate planning. 

Without a will, any assets in your estate will go to your closest heirs as designated by state intestacy laws rather than to the parties you want to inherit from your estate. Having a will means you can have your wishes regarding the disposition of your estate respected and followed.

When someone dies without a will, the court may appoint someone who petitions to administer their estate. Generally, courts prefer to appoint a close family member to serve as administrator, such as a surviving spouse, parent, sibling, or adult child. However, the court may appoint another party in the absence of any objections from the person’s family members. 

Passing away without a will also means your estate assets will pass to your heirs according to state intestacy law rather than to the parties you want to inherit from your estate. However, you can use other estate planning tools like trusts and beneficiary designations to transfer assets to specific beneficiaries after death. Intestacy law would only affect assets still in your estate at your death.

You should begin the estate planning process as early as possible. Even a young, single adult can benefit from an estate plan that includes a will and a durable power of attorney, which can ensure that they have their affairs in order should an emergency like a severe injury or illness occur. Individuals and families should consider starting an estate plan when reaching various life milestones, such as getting married, having children, or buying their first home. 

Estate planning is not a task that you do once and then move on with your life. Instead, you should review and update your estate plan over time. Regularly reviewing your estate plan can ensure that it reflects your current circumstances and wishes and takes advantage of changes in tax and estate laws. 

Individuals should review their estate plan every few years and after significant life events, such as:

• Marriage
• Divorce
• Birth of children or grandchildren
• Children’s marriages or divorces
• Substantial increases or decreases in income
• Purchases of real estate
• Purchases of life insurance policies or annuities
• Establishing retirement accounts
• Acquiring substantial assets, such as through an inheritance
• Severe injury or illness that results in permanent disabilities
• Starting or selling a business
• Moving to a new state

You should also update your estate plan when changes to the law render parts of your estate plan invalid or less advantageous or to take advantage of new tax or other legal benefits.

Working with a lawyer to develop your estate plan can ensure you have a plan tailored to your needs, goals, and wishes. A lawyer can help you during the estate planning process by:

• Sitting down with you to learn more about your personal, family, and financial situation and discuss your concerns, needs, and preferences
• Identifying estate planning solutions tailored to your goals and circumstances
• Drafting estate planning documents, such as wills, trusts, and powers of attorney
• Helping you execute your estate planning documents to ensure their enforceability
• Assisting with other legal steps to put your estate plan into effect, such as transferring or retitling assets 

Furthermore, an estate planning lawyer can work with you throughout your life to help you review and update your estate plan in response to changes in your family’s circumstances or new laws that may give you better estate planning options.

Through a power of attorney, a person can give another individual the authority to act on the person’s behalf or to handle the person’s legal, financial, medical, or personal affairs. The principal (the person establishing a power of attorney) may do so to authorize a trusted family member, friend, or adviser to manage their financial and legal affairs if they become incapacitated and cannot manage those affairs themselves. A principal may also execute a medical power of attorney to authorize a trusted family member or friend to make healthcare and end-of-life decisions on their behalf if they become incapacitated and unable to do so themselves. 

A power of attorney can give you peace of mind, knowing you have someone you trust who can manage your affairs and help you get the care you need if you become incapacitated due to injury, illness, or physical or cognitive decline due to age. Without a power of attorney, your family may have to petition the court for guardianship or conservatorship, which can take time and cost money.