Denver Probate Attorney

Denver Probate Lawyer

Not every estate must go through probate, but when an estate does, it can be a complicated and grueling process. Unlike estate planning, which occurs before a person dies, probate can happen as soon as your loved one passes away. Because of this, it can be emotionally charged; however, hiring a Denver probate attorney may ease family tensions and make the process smoother.

At Burr Law, we have decades of experience navigating families through the probate process, ensuring they understand the legal aspects as well as their responsibilities. We understand this is a sensitive time for your family, making your case not only a priority but also one handled with care and compassion, allowing you to focus on grieving with your loved ones.

What Is Probate?

Probate is the legal process for transferring a person’s assets to the proper heirs or beneficiaries when they die. Unlike trusts, if a person’s estate goes through probate, the court distributes their assets by naming a personal representative unless the decedent named one in their Will. Probation can be a lengthy and complex process, so understanding the steps is integral for the process to go smoothly.

What Are the Probate Laws in Denver?

In Denver, all estates must go through probate unless the decedent has a trust established. However, the level of court interference varies and depends on the value of the estate. Moreover, if there is a Will, the probate is considered testate, but if there is no Will, it is considered intestate. A detailed description of each of the three probates is below:

• Small estate probate. For those valued less than $80,000 and having no real property. This directs people to file their documents in Denver probate Court, but the documents should be filed in the county in which the decedent resided.
• Informal probate. If your estate is above the threshold, it may go through uncontested probate, meaning there is a valid Will, and the personal representative is ready to execute the process of asset administration. The court has minimal oversight of these situations.
• Formal probate. Formal probate is for estates that may be complicated or if the Will is unclear. The court may have to supervise transactions made by the personal representative.

Probate Process in Denver

As mentioned, the probate process varies depending on whether you only require an affidavit or if it is a formal or informal process. However, the basic steps are as follows:

• Validate the Will. A judge validates the Will, and if there is no Will, the court appoints a personal representative.
• Formally named the personal representative. The personal representative is formally named to legally manage and distribute the decedent’s assets.
• Notify creditors. Creditors must be publicly notified of the decedent’s death by filling out specific court forms.
• Asset inventory and collection. The personal representative takes inventory of and collects all assets from the proper parties.
• Creditor’s period. The personal representative evaluates, liquidates, and/or consolidates assets.
• Settle tax debt. The personal representative pays taxes and settles tax debt.
• Asset distribution. Distribute assets to all creditors and rightful beneficiaries.
• Close the estate. Once all debts are settled and assets are distributed, the personal representative can formally close the estate.

To begin the process, you should file a petition with the Denver Probate Court, which is located at 1437 Bannock Street, Rm 230, Denver, CO 80202.

Personal Representative Responsibilities

Much like the trustee when managing and distributing a trust, the personal representative has several fiduciary duties in terms of managing their loved one’s estate. For example, they have the duty to:

• Be impartial
• Administer the estate prudently
• Put the estate’s interest first
• Be fair and law

In addition to these fiduciary duties, the personal representative also has legal duties as outlined in Colorado Probate Code Part 7, Article 12, §§ 15-12-701 through 15-12-723. Some of these include taking control of all assets, paying taxes, managing and possessing personal property, and paying any expenses incurred throughout the process, including lawyer fees.

Must My Loved One’s Estate Go Through Probate?

In Colorado, all estates must go through probate. However, if you have a small estate, you can bypass going through the court. However, if your estate is valued over $50,000, and you have personal property, it must go through the court process, either formally or informally. In Denver, the median income is $91,681 per the 2023 Census Data, and owner-occupied housing has a median value of $586,700.

Considering these values, there is a great chance your estate will go through probate. If you are a personal representative, you should be clear about your duties and responsibilities, as any mishaps could mean having a claim filed against you. If you are in the estate planning process, you should consider how you want your assets distributed. An estate planning lawyer in Denver can help you with these decisions by helping you draft a Will or choose your personal representative.

How Can a Lawyer Help?

Your lawyer can help in many ways if your loved one’s estate must go through probate. First, during the estate planning process, a lawyer can help your loved one draft their Will, which should include a personal representative. A Will helps ensure the decedent chooses their personal representative rather than the court doing so.

The following includes specific ways a lawyer can help navigate the probate process, whether it is a small estate, informal, or formal.

• Support personal representative. A lawyer is an invaluable resource for personal representatives who are navigating the probate process. Probate happens very quickly after your loved one dies. If you are the personal representative and close to the deceased, you are likely grieving their loss and may not have the emotional and mental capacity to settle affairs. Your lawyer can ease your stress by helping you understand complicated legal concepts and financial matters.
• Legal advice. A lawyer can provide the legal guidance involved in the process, as many people are unfamiliar with probate. They can help you take inventory of your loved one’s assets, collect them, and settle debts. Your lawyer can also help you close the estate, which is a legal process.
• Mediate disputes. Lawyers not only provide legal advice, but many are excellent mediators. They can mediate familial disputes in case there are concerns with the Will or concerns about how the assets are distributed.
• Prepare documents. There are several forms involved in the probate process. There are seven forms necessary for formal probate and six forms for informal probate. Each of these forms must be filled out appropriately for the process to begin. The forms contain a multitude of legal jargon that may be hard to navigate if you are not a lawyer.
• Ensure compliance. What separates probate from other forms of estate planning is the level of court oversight and legal compliance. The process must be compliant with federal and state laws to be valid. This is important as it could delay beneficiaries receiving their loved one’s hard-earned assets.

FAQs

How Much Does a Probate Attorney Cost in Colorado?

The cost of a probate attorney varies in Colorado. Probate attorneys may charge flat fees, hourly rates, or even a percentage of the estate. You should discuss how fees will be calculated with your lawyer during your consultation. Some factors that may be considered are the complexity of your case, the lawyer’s skill and experience, and the firm’s location.

Do I Need a Lawyer for Probation in Colorado?

You do not need a lawyer for probate in Colorado; however, it is recommended that you hire one if your estate is substantial or if your loved one did not have a Will, for instance. A lawyer can help you navigate the process, ensuring all decisions are legally binding. If the court is supervising the probate process, having a lawyer by your side may prove invaluable.

What Is the Difference Between a Probate Lawyer and an Estate Lawyer?

The difference between a probate lawyer and an estate lawyer is the difference between managing an estate once the decedent has passed and managing an estate when a person is alive. All estate lawyers can likely help with the probate process, but not all probate lawyers handle all aspects of the estate planning process. In short, a probate lawyer specifically deals with probate, while an estate lawyer helps all people with handling their estates.

What Are the Three Types of Probate in Colorado?

The three types of probate in Colorado are small estate probate, informal probate, and formal probate. Probate for small estates applies to those valued at $50,000 or less with no real property. Informal probate is for estates valued above that threshold but has no complexity with valid Wills or a clear intestacy. Formal estates are the most complicated and must be supervised by the court.

Contact a Skilled Probate Lawyer Today

While everyone should consider estate planning to protect their assets, not every estate must go through probate. However, if your loved one’s estate is valued above a certain threshold, it may be legally obligated to go through probate, barring other circumstances. If this applies to you, you should consider consulting with Burr Law to help you navigate the process. Contact our team today to schedule a consultation.