In Vail, Colorado, probate is the process through which a Court determines if a will is valid or not.
As part of this process, the Vail, 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 Vail, Colorado will name one. This is most often the adult individual who stands to inherit the most money or property from the will.
Because the executor is responsible for truly initiating probate proceedings and seeing them to completion, the person chosen for this role is often the one who stands to inherit the most from the will - giving them an incentive to put in the necessary time and effort.
Duties of the Executor in Vail, 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 finished before the will is given effect.
Executors must also alert anyone with an interest in the will of the death of the decedent. Persons with an interest in the outcome of probate are those who are named in the will, or anyone who would likely inherit if the will is invalidated (close relatives, for the most part).
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.
Moreover, the executor is obliged to take a leading role in establishing the validity of the will. The executor obviously has an incentive to see the process through, since they cannot inherit until probate is complete.
How Can A Vail, Colorado Lawyer Help?
Because this can be (though isn't always) a fairly confusing process, it's a good idea to get a knowledgeable probate lawyer in Vail, Colorado, especially if you find yourself being the executor of an estate, and aren't sure how to proceed.