In Manitou Springs, Colorado, probate is the process through which a Court decides if a will is valid or not.
As part of this procedure, the Manitou Springs, 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 Manitou Springs, 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 reason to move the process along as quickly as possible, so they can get their inheritance.
Duties of the Executor in Manitou Springs, Colorado
The executor has many duties regarding the will. First, they have to truly initiate the probate proceedings, which must be finalized before the will is effectuated.
They additionally are obligated to provide notice to the people with a direct interest in the estate that the decedent has died, typically by filing a death certificate.
There may be various people who are entitled to take under a testator's will, with which the testator may have fallout out of touch years ago. This can make them challenging to find, but they need to be found, nonetheless. To that end, the executor is obliged to make a list of everyone who might be able to inherit, whether they're named in the will, or closely related to the testator. Furthermore, they have to make known all of the decedent's major assets and debts.
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 typically 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 Manitou Springs, Colorado Lawyer Help?
Because of the difficulties involved in probate, it would be smart to hire a reliable Manitou Springs, Colorado probate lawyer, especially if you are the executor of an estate and unsure how to proceed.