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Questions Answered by Diedre Wachbrit Braverman
1 Answer | Asked in Probate for Colorado on
Q: (If we need to do probate at all), would that be CO or AZ probate, since he only stayed at a residence for 2 days in AZ?

We moved my dad from his long term house in Colorado to a place in Arizona. He was in that apartment for 2 days, then to the hospital from injury, then to rehab, where he sadly died a few weeks later. If we need to do probate at all (whole different question, only asset now is a vehicle worth 10K)... Read more »

Diedre Wachbrit Braverman
Diedre Wachbrit Braverman answered on Mar 31, 2020

He didn’t live in Arizona long enough to become a resident. So his probate must be in Colorado.

But the good news is, if all he owned was a vehicle worth less than $66,000 you can do a Small Estate Affidavit and avoid court.

1 Answer | Asked in Estate Planning for Colorado on
Q: If a will leaves houses to 3 people are all three responsible for mortgage payments until will is disbursed?

It is occupied by a beneficiary who pays utilities, lot fee and was making mortgage payments until unable.

Diedre Wachbrit Braverman
Diedre Wachbrit Braverman answered on Mar 31, 2020

The mortgage is only due from the person named on the mortgage. However, if they want to avoid foreclosure the beneficiaries would be smart to keep paying the mortgage.

When the property is distributed to them, they will have to either pay it off or get a new mortgage in their names....
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2 Answers | Asked in Estate Planning and Probate for Colorado on
Q: Is my wife automatically the beneficiary of my 401k and IRAs, regardless of my beneficiary designations?

I am married and live in Colorado. Is my wife automatically the beneficiary of 100% of my 401k, my multiple IRA's, and regular savings accounts, regardless of who I have specifically designated as the beneficiaries on those accounts? I've read conflicting information online regarding... Read more »

Diedre Wachbrit Braverman
Diedre Wachbrit Braverman answered on Mar 31, 2020

In Colorado, a spouse in entitled to up to 50% of your estate depending on how long you’ve been married. They reach 50% at 10 years. If you designate someone else it can cause expensive court proceedings as your spouse seeks the share to which they are entitled. You could designate your spouse as... Read more »

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2 Answers | Asked in Estate Planning for Colorado on
Q: Is a Revocable Trust considered abandoned if it hasn't been used in years?

My mom passed away and her will states that her estate be gifted to a 2004 Revocable Trust that references California law. My mom sold her California property in 2005 when she moved to Colorado that same year. She just passed away in Colorado and none of her property here was in the name of the... Read more »

Diedre Wachbrit Braverman
Diedre Wachbrit Braverman answered on Mar 31, 2020

The trust only controls property that it owns or is a beneficiary of. So while your mother’s trust is still valid and in effect, it doesn’t affect anything so you can ignore it.

You may want, however, to register the trust in Colorado just in case some asset turns up.

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