In Lone Tree, Colorado, probate is the process through which a Court determines if a will is valid or not.
As part of this process, the Lone Tree, 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 commonly name a person as the executor of the estate. If not, the court in Lone Tree, 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 Lone Tree, Colorado
The executor has many duties concerning the will. First, they have to really initiate the probate proceedings, which must be completed before the will is effectuated.
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.
Executors are also obligated 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 required 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 fulfilled, they'll probably find it to be worth the time and expense.
How Can A Lone Tree, Colorado Lawyer Help?
Because of the intricacies involved in probate, it would be a brilliant idea to consult with and retain a Lone Tree, Colorado attorney who specializes in probate, especially if you are the executor of an estate.