Estate Personal Representative Attorneys in Colorado
Fulfilling Final Wishes with Care
At Jorgensen, Brownell & Pepin, P.C., we understand how important it is to ensure your loved one's final wishes are carried out with care and efficiency. We specialize in guiding personal representatives through the complex process of estate administration. Whether you've been named personal representative in a will or appointed by the court, our experienced attorneys are here to provide personalized guidance and support every step of the way.
Understanding the Personal Representative's Role: A Simple Explanation
The death of a loved one is challenging, and despite careful planning, there are still responsibilities to manage, including:
- Administering the deceased person's estate and assets
- Contacting relevant parties such as banks, creditors, and government agencies
- Arranging for the funeral and burial or cremation services
- Notifying beneficiaries and heirs of the death
- Handling financial matters such as paying outstanding debts and taxes
- Distributing assets according to the deceased person's will or applicable laws
- Managing any ongoing business interests or legal matters
- Securing the deceased person's property
- Addressing any outstanding legal or contractual obligations
These duties are typically overseen by a “Personal Representative,” sometimes referred to in other states/jurisdictions as “executors.”
Supporting Personal Representatives at Every Step: Our Comprehensive Guidance
Navigating the responsibilities of estate administration can be daunting—especially during a time of loss. Our experienced legal team is here to offer compassionate and practical support with:
- Sound Legal Guidance: Our team can help you navigate the complex legal requirements and procedures of being a personal representative. We can advise representatives as to their rights, duties, and obligations under the law.
- Document Preparation: Additionally, we can assist in preparing the necessary legal documents required for estate administration, such as petitions for probate, letters testamentary or of administration, assets inventories, accountings, creditor notices, and other court filings.
- Probate Administration: We also guide Personal Representatives through the probate process, ensuring compliance with all legal requirements and deadlines. This includes managing the inventory and valuation of assets, addressing creditor claims, and distributing assets to beneficiaries.
- Resolving Disputes: In cases where disputes arise among beneficiaries or other interested parties, we can provide representation and advocacy to protect the Personal Representative in their fiduciary capacity.
- Estate Planning: We can help individuals plan for the future by drafting wills, trusts, and other estate planning documents that designate Personal Representatives, Trustees, and other fiduciaries, and provide clear instructions for the administration of their estates.
Frequently Asked Questions
How is a personal representative appointed?
A personal representative is usually named in the deceased’s will; however, this nomination must be confirmed by the court before any action can be taken regarding assets or debts. If no will exists, or the named individual is unable or unwilling to serve, the court will appoint someone. Our attorneys can assist in the appointment process, ensuring it aligns with legal requirements and the estate's needs.
What happens if the deceased person has debt?
In such cases, many family members are concerned that the debt burden will fall on them. Unless a family member co-signed on the debt, the surviving family is not responsible for the deceased person's debt. The decedent’s debt(s) stay their debt(s). However, creditors must navigate certain statutorily-required steps to possibly be considered for and entitled to payment, including the presentation of a claim to the Personal Representative or file the same with the court. Note, a bill received in the mail does not satisfy the claim presentation requirement. Further, potential creditors must act within certain statutorily-prescribed time limits in order to be considered for possible payment.
Creditors may begin calling soon after death. Don’t simply agree to pay them. Creditors must satisfy the statutory criteria entitling them to payment before such should be made. Moreover, paying one creditor before others could be deemed as showing preference and violate your fiduciary duties as personal representative. Furthermore, creditors otherwise entitled to payment are nevertheless very commonly willing to accept substantially less than the face value of the debt in satisfaction of the same. Thus, we always advise waiting until expiration of the applicable creditor claims period, as well as inventorying the assets and expected expenses of the estate, before evaluating any claims for possible payment, disallowance, or negotiation for satisfaction of the debt for less than what was alleged to be owed.
Can I be held personally liable as a personal representative?
Yes, if you mishandle estate assets, fail to fulfill your duties, or engage in misconduct. However, if you act in good faith, follow proper procedures, and seek professional advice, you can minimize the risk of personal liability. It's essential to keep accurate records, communicate transparently with beneficiaries, and speak to our experienced legal team throughout the course of administration of the estate.
What if there are disagreements among beneficiaries?
Disagreements among beneficiaries can arise during estate administration, particularly regarding the will's validity and/or distribution of the estate among the heirs or devisees. As a personal representative, your role is to remain impartial and work to resolve disputes fairly and transparently. You should seek legal counsel to navigate disputes, and litigation, if necessary, ensuring the interests of all parties are addressed while fulfilling your fiduciary duty and insulating you from personal liability.
How long does the estate administration process typically take?
In general, the process can take anywhere from six months to several years to complete. Timelines can vary depending on factors such as the complexity of the estate, the presence of disputes or legal challenges, and the probate laws.
Looking For Compassionate Guidance? Contact Jorgensen, Brownell & Pepin, P.C.
Whether you are handling disagreements among beneficiaries, struggling to carry out your loved one’s final wishes, or simply wish to have a seamless experience while fulfilling your fiduciary duties, we can help. We’ve guided countless personal representatives through the process and are here to assist you in any way possible.
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