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Tag: Probate

Why Everyone Needs a Will, Regardless of Assets or Beneficiaries

Why Everyone Needs a Will, Regardless of Assets or Beneficiaries

When it comes to estate planning, many people believe having a will is only necessary if they possess significant assets or property. The truth is however, creating a will holds importance regardless of the size of your estate. Even if you have no substantial assets, or have designated beneficiaries for your existing assets, having a will in place offers several crucial benefits. Below are reasons why everyone needs a will. Expressing Your Wishes A will serves as a legal document…

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Passing the Torch: A Guide to Choosing an Executor in Colorado

Passing the Torch: A Guide to Choosing an Executor in Colorado

Choosing An Executor: Responsibilities and Process Estate planning is an important process that involves making decisions about your assets, your family, and your legacy. One of the most critical decisions you’ll make in estate planning is choosing an executor. An executor is the person responsible for managing your estate after you pass away. Who Should You Choose as Your Executor? Selecting someone to be your executor is a decision that should be made with great care. Here are some factors…

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Why the Probate Process is Necessary

Why the Probate Process is Necessary

Losing a loved one is never easy, and dealing with their estate can be overwhelming. If the deceased person however, owned real property or had assets valued at over $74,000 (as of 2023), opening up probate may be necessary. While probate can seem daunting, there are several reasons why it’s important to go through the process. Below are six compelling reasons why you should consider opening probate on behalf of a loved one who has passed away with significant assets….

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Blended Family Estate Planning Strategies

Blended Family Estate Planning Strategies

A blended family brings unique challenges when it comes to estate planning. Parents have to navigate complexity of managing assets and ensuring the well-being of children. It can be overwhelming to with all the various options available. By understanding and putting into place some common estate planning strategies, blended families can ensure that their assets are protected and distributed according to their wishes. Not every strategy may be necessary for your particular circumstances. But having a good understanding of the…

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Probating a Small Estate In Colorado

Probating a Small Estate In Colorado

Probating a small estate in Colorado is a straightforward process. Technically, it’s not even probate, since there’s no filing or appearing in court. The official process is known as Collection of Personal Property By Affidavit Pursuant To ยง 15-12-1201, C.R.S. And although it’s not an easy thing to say; the state of Colorado has made it an easy thing to do. If you are tasked with probating a small estate for a friend, family member, or loved one, then read…

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