In Greenwood, Colorado, probate is the process through which a Court determines if a will is valid or not.
As part of this process, the Greenwood, Colorado probate court will determine the validity of the will, inventory the decedent's assets and debts, and then, finally, distribute the estate according to the will, assuming it is found to be valid.
Wills frequently name a person as the executor of the estate. If not, the court in Greenwood, Colorado will name one. This is most often the adult individual who stands to inherit the most money or property from the will.
The executor is the person responsible for initiating the probate proceedings. The person who would inherit the most from the will is appointed, because they have the greatest inducement to move the process along as quickly as possible, so they can get their inheritance.
Duties of the Executor in Greenwood, Colorado
The executor has various duties with respect to the will. First, it is his or her job to actually initiate probate proceedings, which often must be completed before the will is given effect.
They additionally are required to provide notice to the people with a direct interest in the estate that the decedent has died, typically by filing a death certificate.
Executors are also obliged to make available an accounting of the testator's debts and assets, so their affairs can be wound up, along with a list of everyone who is named in the will, or otherwise stands to inherit.
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 assistance. 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 Greenwood, Colorado Lawyer Help?
Because of the difficulties inherent in the probate process, it is a good idea to hire an efficient Greenwood, Colorado probate lawyer, particularly for the executors of estates.