In Colorado, Arizona, probate is the process through which a Court determines if a will is valid or not.
In the probate process, a Colorado, Arizona probate court has many duties, including ruling on a will's validity, making an inventory of the estate's assets, and making note of all the decedent's debts. Once the will is determined to be valid, the court will distribute the property according to its terms.
Wills commonly name a person as the executor of the estate. If not, the court in Colorado, Arizona will name one. This is most often the adult individual who stands to inherit the most money or property from the will.
The basic duty of the executor is to serve as the living incarnation of the estate. Their job is to begin probate proceedings, and see them to completion. If an executor has to be appointed by the court, it will normally be the person who stands to inherit the most from the will, as he or she has an incentive to make every effort to avoid delay.
Duties of the Executor in Colorado, Arizona
Executors of estates have a many distinct responsibilities. First, the executor must start the probate proceedings. Probate almost always needs to be finished before the property in an estate can be released according to the terms of the will.
They further are required to provide notice to the people with a direct interest in the estate that the decedent has died, normally by filing a death certificate.
There may be several people who are entitled to take under a testator's will, with which the testator may have fallout out of touch years ago. This can make them hard to find, but they need to be found, nonetheless. To that end, the executor is obligated to make a list of everyone who might be able to inherit, whether they're named in the will, or closely related to the testator. Additionally, they have to make known all of the decedent's major assets and debts.
Additionally, the executor is obligated to take a leading role in showing the validity of the will. The executor obviously has an incentive to see the process through, since they cannot inherit until probate is complete.
How Can A Colorado, Arizona Lawyer Help?
Because of the intricacies inherent in the probate process, it is a good idea to hire an accomplished Colorado, Arizona probate lawyer, particularly for the executors of estates.