Lakewood, CO asked in Estate Planning for Colorado

Q: What is a personal representative responsible for in probate?

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1 Lawyer Answer

A: A PR is responsible for the proper management of an estate. This means, notifying beneficiaries/creditors, paying some bills (e.g. mortgage payments, home insurance, and last credit card statements), filing papers with the courts, paying taxes, and generally making sure that an estate is inventoried/filed/closed. The PR is also personally liable for any mistakes made in the administration of the estate. Any bills, legal fees, etc. are paid by the estate and NOT the PR. Colorado has a relatively simple probate system, so it is possible to administer an estate without contacting an attorney (esp. if there is no disagreements and no creditor issues). You local courthouse should offer a probate class once a month. You can always contact an attorney if you need help before or during the probate process. Lastly, many attorneys and banks offer a PR service.

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