In Broomfield, Colorado, probate is the process through which a Court decides if a will is valid or not.
As part of this procedure, the Broomfield, Colorado probate court will decide the validity of the will, inventory the decedent's assets and debts, and then, lastly, distribute the estate according to the will, assuming it is deemed to be valid.
Wills frequently name a person as the executor of the estate. If not, the court in Broomfield, Colorado will name one. This is most often the adult individual who stands to inherit the most funds or property from the will.
The executor is the individual who initiates probate proceedings. The person who stands to inherit the most from the will is typically appointed the executor, because they will have the most incitement to help the process go as quickly as possible, so they can get their inheritance.
Duties of the Executor in Broomfield, Colorado
The executor has many duties regarding the will. First, they have to truly initiate the probate proceedings, which must be done before the will is effectuated.
Additionally, it's the executor's job to notify all concerned parties that the person who made the will has died. "Interested parties" are usually people who are named in the will, or who would inherit the estate if the decedent had died without a will.
Because people who stand to inherit from the testator may be scattered around the country, or even the world, contacting them is sometimes challenging. One of the responsibilities of the executor is to collect a list of everyone who is entitled to inherit from the decedent, so attempts to contact them can be made. They additionally have to account for all the testator's debts and assets.
As the representative of the estate, the executor has to take charge of the probate process, filing the proper court papers, and, if necessary, hiring an attorney for advice. If the estate is large, and the executor stands to inherit a great deal of money once this process is done, they'll probably find it to be worth the time and expense.
How Can A Broomfield, Colorado Lawyer Help?
Because of the difficulties inherent in the probate process, it is a good idea to hire an efficient Broomfield, Colorado probate lawyer, particularly for the executors of estates.