Probate Estate Types in Colorado
Probate estates in Colorado can be categorized into three different types. Below we have provided descriptions of these three. However, it is very important you consult with an experienced attorney to assist you through the correct process for your specific estate needs.
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Probate Denver, Colorado[/caption]
The first type is a small estate probate. If someone dies in 2014 with less than $64,000 dollars in probate assets, the beneficiaries or heirs may not have to go through the formal process to have access to the deceased person’s assets. The assets may be distributed through a small estate affidavit, rather than probate.
The next type of a probate estate is an informal probate estate. This process is used when there is a valid will or no question as to who inherits under the intestacy laws. Informal probate is also used when there is no contest expected regarding who is to be the court appointed personal representative and/or who will inherit the estate. An application for probate is filed with the Registrar to the court, but the court itself is not asked to rule on any matters.
The third type of probate estate is a formal estate. If there is no clear direction set by a valid will, or when there are difficulties with the estate, the court may require a more in-depth probate. A petition is filed with the court, and the judge will rule on matters in the probate. Notice must be given to all interested persons of the probate, a hearing is held, and then any objections will be heard before the judge rules on these matters.
Although this can be daunting process, it is important that the correct process is followed to avoid additional fees and protect assets.
Going through the death of a loved one can be extremely difficult. We offer a free, thirty-minute consultation for Probate and Trust Administration in order to get you started on the process.
Call for an free thirty-minute consultation with an experienced attorney at Ambler Keenan Mitchell Johnson in Denver, Colorado.
Probate Denver, Colorado[/caption]
The first type is a small estate probate. If someone dies in 2014 with less than $64,000 dollars in probate assets, the beneficiaries or heirs may not have to go through the formal process to have access to the deceased person’s assets. The assets may be distributed through a small estate affidavit, rather than probate.
The next type of a probate estate is an informal probate estate. This process is used when there is a valid will or no question as to who inherits under the intestacy laws. Informal probate is also used when there is no contest expected regarding who is to be the court appointed personal representative and/or who will inherit the estate. An application for probate is filed with the Registrar to the court, but the court itself is not asked to rule on any matters.
The third type of probate estate is a formal estate. If there is no clear direction set by a valid will, or when there are difficulties with the estate, the court may require a more in-depth probate. A petition is filed with the court, and the judge will rule on matters in the probate. Notice must be given to all interested persons of the probate, a hearing is held, and then any objections will be heard before the judge rules on these matters.
Although this can be daunting process, it is important that the correct process is followed to avoid additional fees and protect assets.
Going through the death of a loved one can be extremely difficult. We offer a free, thirty-minute consultation for Probate and Trust Administration in order to get you started on the process.
Call for an free thirty-minute consultation with an experienced attorney at Ambler Keenan Mitchell Johnson in Denver, Colorado.
303-407-1542