In Lochbuie, Colorado, probate is the process through which a Court decides if a will is valid or not.
As part of this procedure, the Lochbuie, 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 Lochbuie, 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 motivation to move the process along as quickly as possible, so they can get their inheritance.
Duties of the Executor in Lochbuie, Colorado
The executor has many duties regarding the will. First, they have to actually initiate the probate proceedings, which must be finalized 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.
Executors are also required to make accessible an accounting of the testator's debts and assets, so their affairs can be wound up, along with a list of everybody who is named in the will, or otherwise stands to inherit.
Because the executor serves as the living representation of the decedent's estate, they are solely accountable for proving the validity of the will. This is a lot of work, but because executors are usually chosen based on how much they stand to inherit from a will once its validity is confirmed, they have a good incentive to see the process to finalization.
How Can A Lochbuie, Colorado Lawyer Help?
Because of the complexities involved in probate, it would be a reputable idea to consult with and retain a Lochbuie, Colorado attorney who specializes in probate, especially if you are the executor of an estate.