Estate Administration & Probate
Get help with the probate process from a compassionate Colorado attorney
- Probate is a public court process, and some people prefer more privacy regarding their estate and legal matters.
- Probate provides an opportunity for family disagreements that can prolong the process.
- Probate is time-consuming, especially if someone chooses to contest a will. What generally takes a few months can extend to a few years.
- And lastly, in many states probate can be costly since it requires court appearances and extensive paperwork.
But, if you plan ahead, you can avoid probate.
How We Help
Drafting the proper legal documents and carefully timing asset transfers can avoid probate. There are quite a few options that may work together successfully, such as:
Colorado Revocable Living Trusts
Creating a revocable living trust would keep the assets titled in the trust out of probate. During your lifetime you retain control over the assets and can change the terms of the trust if. In the trust you name a successor trustee to take over after your passing. The successor trustee must distribute assets to beneficiaries as you’ve instructed. This all occurs outside of probate.
Placing assets in joint ownership with your beneficiary ensures assets automatically transfer to the joint owner outside of probate.
Payable-on-Death (POD) and Transfer-on-Death Accounts (TOD)
POD accounts designate a person to receive your account assets after you die. TOD accounts let you transfer titles and deeds to real estate or vehicles automatically after death.
Whatever you do, don’t give assets away before you die. It could cause problems if you need to qualify for long-term care assistance or create a tax nightmare. Talk to us at Greer Law, first.
If you are an executor of an estate, you don’t need to hire an attorney. However, the process can be complicated and there are many mistakes that can be made and deadlines that can be missed. And often, emotions are running high among the family.
Greer Law is experienced with the probate process; we know what needs to be filed and when. We will prepare all the necessary court filings accurately and timely. In more complicated cases, such as high dollar estates or estates with significant debt, there may be factors that could expose you to liability, and we can help keep you protected. Another reason to hire an attorney is it may make family relations easier because the lawyer is the one handling things rather than a family member.
From wills and trusts to long-term care and Medicaid planning, Greer Law, in Littleton, Colorado, can assist you with all of your estate planning and elder law needs. Contact our compassionate Denver Metro Area Estate Planning law firm for guidance.