On December 20, 2014

Here is the conclusion to our blog series Probate in Colorado: FAQs.

Q – What do personal representatives have to do in probate in Colorado?

While these FAQs about probate in Colorado are informative, contact us when you are ready for specific answers about and help with probate in Colorado.

While these FAQs about probate in Colorado are informative, contact us when you are ready for specific answers about and help with probate in Colorado.

A – In probate in Colorado, personal representatives are considered to be fiduciaries, meaning that they have been entrusted with some specific financial responsibilities and that they have a legal obligation to carry these out with a certain level of care. Just some of the responsibilities that personal representatives have in probate in Colorado include:

  • Paying creditors of an estate
  • Paying all taxes for an estate
  • Overseeing the evaluation of the estate’s assets
  • Fairly and promptly distributing the assets of an estate.

Here, it’s critical to note that:

  • These are by no means the only fiduciary duties that personal representatives of estates have in probate in Colorado.
  • Failing to live up to these fiduciary duties (regardless of whether people made honest mistakes or were intentionally shirking their duties for their own personal benefit) can lead to serious problems – including being sued (and held personally liable) for breaching one’s fiduciary duties.
  • Because the fiduciary duties that personal representatives have can be complicated, it can be invaluable to have an experienced probate lawyer informing you of these obligations and helping you to fulfill them.

Q – What are the fees for probate in Colorado?

A – The costs of probate in Colorado will depend on the type of probate through which an estate passes, as well as whether:

  • There are any disputes to resolve in the process (as this could prolong the legal proceedings and increase the related costs).
  • An attorney has been retained to help personal representatives get through the process. While hiring a lawyer may add some initial costs to the probate process, it could end up saving people a lot of money (and time) in the long run, as an experienced lawyer can help successfully wrap up the probate process faster than otherwise may have been possible.

On average, the fees for probate in Colorado in terms of strictly court costs (as of December 2014) have been estimated to be between $2,000 and $2,500.

Q – Do I need an attorney to help me get through probate in Colorado?

A – You are not required to have an attorney help you with probate in Colorado; however, if you will be dealing with formal probate in Colorado, not having an attorney on your side to help you with the process can cause various problems for you, the estate and a quick resolution to the proceedings.

As a result, it’s strongly advised that people who will be dealing with probate in Colorado retain an experienced lawyer to help them mitigate any possible issues they may face so they can resolve the proceedings as efficiently and favorably as possible.

Denver Probate Attorneys at JR Phillips & Associates, PC

Are you getting ready to probate an estate in Colorado? If so, you can count on the Denver probate lawyers at JR Phillips & Associates, PC. Our Denver probate lawyers are skilled at using a variety of traditional and innovative approaches to develop solutions that are perfectly tailored to our clients’ needs and objectives. Our goal is to help our clients efficiently navigate the complexities of the law so they can develop effective, prudent solutions that will protect them, their assets and their families in the future.

Contact Us

Let’s discuss your options during an initial consultation. To schedule this meeting, call us at (303) 741-2400 or email us using the contact form at the top of this page.

From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village and Englewood.

Categories: Probate, Probate Litigation