When a loved one passes away, their assets and property typically are not transferred to anyone without some sort of prior designation. This can be done via a valid will, trust, or other beneficiary designation. Regardless of whether a will, trust, or other arrangement exists, the process of appropriately handling a loved one’s estate can be complex. Brestel Bucar, Ltd has extensive experience in assisting families, executors, and trustees, in properly administering both probate and trust estates.
The probate process in Colorado is relatively straightforward, and our attorneys help every step of the way – including admitting the will to probate and having a personal representative appointed, receiving Letters Testamentary or of Administration, collecting assets, opening and closing accounts, paying or contesting claims and debts of the estate, locating beneficiaries, and eventually distributing the estate according to the will or Colorado intestacy laws.
Similarly, when the decedent’s assets are held in a trust, we assist the trustee in collecting any additional assets into the trust, managing the trust according to Colorado law and the terms of the trust, settling claims and tax obligations, and making any required distributions. Both trustees and personal representatives owe fiduciary duties to the estate, the beneficiary, and creditors. It is crucial to have competent legal advice to ensure these duties are met. Contact Brestel Bucar, Ltd to get started.