In Lamar, Colorado, probate is the process through which a Court decides if a will is valid or not.
As part of this procedure, the Lamar, 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 often name a person as the executor of the estate. If not, the court in Lamar, 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 person accountable for initiating the probate proceedings. The person who would inherit the most from the will is appointed, because they have the greatest incentive to move the process along as quickly as possible, so they can get their inheritance.
Duties of the Executor in Lamar, Colorado
The executor has many duties regarding the will. First, they have to actually initiate the probate proceedings, which must be done before the will is effectuated.
They also are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, usually by filing a death certificate.
The executor will also have to compile and make accessible a list of all of the decedent's debts and assets, as well as a list of those who stand to inherit from the decedent.
Lastly, executors have to actually put forth the effort to prove that a will is valid. As the sole legal representative of the estate, this is their job, and is obligated for them to inherit, giving them an incentive.
How Can A Lamar, Colorado Lawyer Help?
Because of the complexities inherent in the probate process, it is a good idea to hire an experienced Lamar, Colorado probate lawyer, particularly for the executors of estates.