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Legal Advice at the Speed of LifeTM from a Licensed Attorney – Right here in Colorado
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Author: Michael L. Smith Date: September 24, 2014
In the last article, we discussed how Colorado Wills can waive the Personal Representative’s requirement to obtain a bond before settling a decedent’s estate. In this article we will look at the requirement for the PR to create an inventory of estate assets. Pursu...
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Author: Michael L. Smith Date: September 21, 2014
When a person passes away in Colorado, someone has to manage the decedent's financial affairs and if necessary, petition the courts to probate their estate. That person is called a personal representative (when the decedent dies with a valid Last Will and Testament) or an Administrator (when the decedent dies without a valid Will). ...
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Author: Michael L. Smith Date: September 17, 2014
In the last 2 articles we discussed waiver of the Executor’s bond in properly drafted Colorado Wills. In this article we will be answering the question- what is an estate accounting? More specifically, we will look at the estate Personal Representatives’s requirement to file a final estate accounting with the probate court. By de...
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Author: Michael L. Smith Date: September 14, 2014
In Denver, Colorado, wills creation to protect your family and your loved ones does not have to be an expensive or time-consuming process. A Last Will and Testament is an important legal document that is the first building block to any good estate plan. A wil...
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Author: Michael Smith Date: September 10, 2014
Every parent wants to make sure their children are provided for in the event something happens to them while the children are still minors. Grandparents, aunts, uncles and other relatives often want to leave some of their assets to young children, too. But good...
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Author: Michael L. Smith Date: September 08, 2014
Considering the terms Living Will and Last Will and Testament are so similar, there is often confusion regarding the legal definition of the terms. However, any person looking to create a Colorado Will should understand the distinction between the two. Let...
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Author: Michael L. Smith Date: September 05, 2014
We have all heard the horror stories of estates that took years to settle and cost tens of thousands of dollars in administrative fees and attorneys fees when CO wills are admitted to probate upon death. In contested estates, litigation can certainly be costly and very time consuming. ...
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Author: Michael L. Smith Date: September 03, 2014
When talking about preparing CO Wills, many people say “I don’t want the state to get everything”. Is this possible? Yes. However, this doesn’t often happen. When a person dies without a Will, it is called dying intestate. There are Colorado Statutes which direct how your assets pass under intestacy, but the statutes do not automatically direct that all of your assets go to the State. When ...
As a Colorado Online Wills Attorney, I often hear that statistics show over 70% of American’s do not have a Last Will and Testament. Most people know that they need a will or at least they have heard somewhere that it is a good idea, but they don’t take active steps to find out why it’s so important. I bel...
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Author: Michael L. Smith Date: August 30, 2014
It is often said that we all have a will. We either choose to create one or the Colorado laws of intestate succession apply to our estate.  Intestate succession is the statutory method of distributing an estate's assets that are not disposed of by a will....