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Colorado Estate Planning Questions & Answers
1 Answer | Asked in Contracts, Business Law and Estate Planning for Colorado on
Q: I inherited McDonald's I know for a fact I'm on the last owners will that I get all the money and company. Can you help

I'm the owner of McDonald's and the will was never brought to any ones attention that I Mitchell Jensen or Mitchell Rio own and did inherit all of McDonald's. I picked up the bank account as soon as I started owning McDonald's

James L. Arrasmith
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answered on Mar 18, 2024

If you believe you have inherited ownership of McDonald's through a will, it is essential to first verify the authenticity and legal standing of the document. You should consult with an attorney experienced in estate law and corporate ownership structures to assess the will's validity and... View More

2 Answers | Asked in Estate Planning, Real Estate Law, Tax Law and Probate for Colorado on
Q: If executor of estate sells house before transferring it to heirs, will it still receive stepped-up cost basis?

A woman died in January 2023 without a will. She had four children that are heirs to the estate according to Colorado intestate succession laws. The house was not transferred to the heirs prior to its sale in March 2024, but was sold on behalf of the estate by the executor (who is also one of the... View More

Nina Whitehurst
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answered on Mar 15, 2024

Property owned by a decedent gets a step up (or down) to fair market value as of the date of death. That holds regardless of whether the property is distributed in kind to the heirs or is sold and then cash distributed to the heirs. the only difference is who pays the capital gains taxes, if any.... View More

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1 Answer | Asked in Estate Planning and Probate for Colorado on
Q: What rights do I have if my dad left no will, had no bills and my sister the oldest took charge of his estates ?

My sister the oldest who has handled all his estates has lied to me about him having life insurance, which I found out he did have one. She also won’t give me any of my dad’s belongings or part of the estate. So my question if there is no will left meaning no named benificiary then was was my... View More

Michael Joseph Larranaga
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answered on Mar 8, 2024

This is a complicated one.

If your father died with no will then everything subject to probate passes intestate. Life insurance is often not subject to probate but it can be. If it passes intestate, if you and your sister are your father’s only living relatives then you may be entitled...
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1 Answer | Asked in Family Law, Immigration Law, Estate Planning and Probate for Colorado on
Q: I would like to know if I have the right of anything in my father's belongings

I am a US citizen my mother was a US citizen she gave my father his papers they are divorced my mother's deceased my father has another marriage with his wife and three other children his wife is from Mexico I believe she might be a resident I don't know my sisters are from here do I have... View More

James L. Arrasmith
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answered on Feb 26, 2024

In matters of inheritance and rights to a deceased parent's belongings, your citizenship status and the circumstances of your parents' marriage and divorce generally do not directly affect your entitlements. If your father passes away without a will (intestate), the laws of the state... View More

1 Answer | Asked in Estate Planning and Probate for Colorado on
Q: The executor of an estate is attempting to add people and change who receives what. How to remove the executor?

The grandfather passed. His son (The Executor) is attempting to give his own stepchildren part of the inheritance. This means the beneficiary will have to split the inheritance, even though there is no mention of the executor's stepchildren in the will. Are there certain forms to fill out? How... View More

Anthony M. Avery
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answered on Nov 27, 2023

Hire a CO attorney now. You will have to file a Motion To Remove Executor For Breach Of Fiduciary Duty. Otherwise the Will might not be enforced.

1 Answer | Asked in Estate Planning, Family Law, Real Estate Law and Probate for Colorado on
Q: Caretaker for gmother's home while on market never paid for 6 months until interested buyer, can I b thrown out

Two aunts ,who has done other embarressing actions, also I'm homeless

Anthony M. Avery
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answered on Nov 16, 2023

Whoever has title to the home can sue you for possession.

1 Answer | Asked in Estate Planning and Tax Law for Colorado on
Q: Can I take funds from a trust I am trustee of and re-establish a new trust with me as grantor for better tax treatment?

There are two trusts in question. One for each of my children who are minors. They are living trusts set up by their deceased grandmother’s will and funded by her estate. Her intention is for the funds to benefit her grandchildren and if I can remove the trust funds and re-establish them with me... View More

Nina Whitehurst
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answered on Nov 14, 2023

No attorney can or should attempt to answer your question without reviewing the instrument and/or court order that created the trusts. The best anyone can say in this forum is maybe. I would say the likelihood of you being able to do that is low.

1 Answer | Asked in Estate Planning, Probate and Real Estate Law for Colorado on
Q: How to stop a sale of property after deceased
Michael Joseph Larranaga
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answered on Nov 13, 2023

This is a complicated legal question. Depending on how the deed is written, the property could already belong to someone else. For example, it is a joint tenancy with the right of survivorship. You most likely need to talk to either a real estate or estate attorney. If the property passed into the... View More

1 Answer | Asked in Estate Planning and Probate for Colorado on
Q: What should a beneficiary do if probate has closed but they haven’t received anything left to them by the will?
T. Augustus Claus
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answered on Oct 18, 2023

If a Colorado beneficiary hasn't received their inheritance after probate has closed, they should first review the will to confirm their entitlement. Contacting the executor is the next step to inquire about the status of the inheritance. For personalized legal advice tailored to your unique... View More

1 Answer | Asked in Estate Planning and Tax Law for Colorado on
Q: If I fund my trust with inherited stock does my Trust get the step up basis on the stock at my death?
Anthony M. Avery
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answered on Oct 5, 2023

No because the Trust owns the corpus, not you at death.

1 Answer | Asked in Estate Planning and Probate for Colorado on
Q: My wife's mother passed away August 26, 2023. When can she release the money from the trust to the beneficiaries?

My mother-in-law passed away August 26, 2023 when can my wife release the beneficiaries money to the trust? She was in long-term care for the last 26 months.

John Michael Frick
John Michael Frick
answered on Sep 4, 2023

That depends on the language of the trust instrument. Some living trusts authorize a distribution upon the death of the settlor, some allow the distribution upon settlement of the settlor’s probate estate, some provide for distribution at a fixed date or period of time.

1 Answer | Asked in Estate Planning, Family Law and Probate for Colorado on
Q: 2015 divorce Denver,CO, my ex took all, judge wasnt aware i was on his car and house 2022 he dies, my name was on title.

Am i entitled to the car because i was still on it? How did someone else get it?

Nick Tootalian
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Nick Tootalian
answered on Aug 4, 2023

If a court does not apportion property in a divorce, the division of assets may be left unresolved or handled informally by the parties, leading to potential disputes. Lack of legal guidance can result in an inequitable distribution, possibly favoring one party over the other. This can create... View More

1 Answer | Asked in Estate Planning and Probate for Colorado on
Q: Hi. How do I get something official from the court naming me as the agent of my mother's estate?

I have her last will and testament naming me as her attorney-in-fact (agent). Her will was never lodged with the county because she died March 20, 2020, ten days after governor Polis declared state of emergency due to the pandemic, closing most govt offices. My mother had no probable assets at the... View More

Rebecca Pescador
Rebecca Pescador
answered on Jun 23, 2023

Getting the Court document naming you as Personal Representative is usually a pretty straight forward process. You will need to go to the court and file a probate case. You can get the forms for a small fee at the courthouse or for free online at the state judicial website,... View More

1 Answer | Asked in Estate Planning and Probate for Colorado on
Q: Deceased Devisee

My dad was named as an heir in my grandmother's will. He preceded her in death, but the will was never updated. Am I eligible for his share? I am his only child, and he was never married. The Colorado code that governs it I believe is § 15-11-603, but I don't quite understand the legal... View More

Kevin Michael Strait
Kevin Michael Strait
answered on May 18, 2023

This response is generalized information related to Colorado inheritance, and is not legal advice specific to your situation.

Gifts made in a Will are sometimes given special attributes, conditions, or rules. A gift that fails to meet the conditions required in the Will can...
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2 Answers | Asked in Estate Planning and Probate for Colorado on
Q: Do I have to hire a lawyer to be appointed Personal Representative of my late husband’s estate?
John Michael Frick
John Michael Frick
answered on May 18, 2023

This is kind of like rebuilding the engine of a car. You can rebuild a car engine yourself; there is no law that requires you to hire a certified mechanic.

But you may not know how to rebuild a car engine because you lack the training and experience.

Similarly, unless you are...
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1 Answer | Asked in Estate Planning for Colorado on
Q: I own a house with my daughter. I want to put my part of the house in trust for her. Is this difficult?
Rebecca Pescador
Rebecca Pescador
answered on May 20, 2023

As a process, it is not inherently difficult, though you definitely need to obtain the assistance of an experienced estate planning attorney to accomplish it.

That said, Trusts can range from relatively simple to extremely complex. It will depend on what you want to accomplish with the...
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1 Answer | Asked in Contracts, Estate Planning, Family Law and Probate for Colorado on
Q: Can I file a case against my sister who abused her POA if she lives in another state?

My mother who had ALzheimer gave my sister POA and 14 months before she died, my sister made herself beneficiary on my mother bank accounts.. They lived in Ohio and I live in Colorado. Bank accounts are not part of the probate. Bank will not give me my mother's account history because, pretty... View More

Rebecca Pescador
Rebecca Pescador
answered on May 20, 2023

It sounds like you will need to pursue this in Ohio. Jurisdiction attaches where the person who passed away lived when they died. Since your mother did not live in Colorado when she died, Colorado would not have jurisdiction over this matter, so you could not purse this here.

Generally...
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3 Answers | Asked in Divorce, Estate Planning, Family Law and Real Estate Law for Colorado on
Q: I got offered a buyout amount for a jointly-owned condo in Estes Park Colorado, I was wondering if it is fair and just.

The value of the property is $395,000 In the amount owed is $330,000 and the net value equity is $65,000 and the outstanding debt is 20000 and the down payment was 12,000 which was paid in full by my wife and they are offering me 5,000 for to buy me out and they offering me a chance for me to not... View More

Michael Joseph Larranaga
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answered on Apr 21, 2023

Good morning,

I think this is better posed as a math question. There are allot of factors to this question that are not shown here including your risk tolerance, the cost to sell the house, the real FMV. I would think 1st you would need to establish if there is a presumption that you are...
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1 Answer | Asked in Estate Planning and Probate for Colorado on
Q: How do I find out if my mother had a will? She died in 2020.
Michael Joseph Larranaga
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answered on Apr 20, 2023

Thats a hard one because people store their wills in different locations.

I would start by digging through the house, safes, deposit boxes, and so on. If you can't find it, then you need to broaden your search.

You may wish to start checking with public sources where your...
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3 Answers | Asked in Estate Planning and Tax Law for Colorado on
Q: A deed to a property goes into an irrevocable trust. Is the real estate taxable by the government?

Or is the property subject to the tax break the irrevocable trust receives?

D. Mathew Blackburn
D. Mathew Blackburn
answered on Mar 29, 2023

Is the real estate taxable by the government? Yes.

Or is the property subject to the tax break the irrevocable trust receives?

It also would receive any tax breaks as well as being taxable.

It's still taxable when the tax assessed is $0.

That's going to...
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