Can someone in Colorado who is a financial POA with no restrictions contact the principal's insurance company to find out if the principal has paid their premiums?
answered on Apr 13, 2022
In Colorado, a general power of attorney (PAO) gives broad powers to the "agent" allowing the agent to do things on behalf of the "principal". Common tasks are financial transactions, real estate transactions, paying bills, opening mail, and signing documents. The agent only has... Read more »
My husband passed away in November of 2021. When he died he left everything to me, which included 5 income properties, 2 businesses and several antique vehicles. I need to do a will for myself now. I have 2 daughters, but one of my daughters is living on public assistance and she’s disabled. I... Read more »
answered on Mar 15, 2022
For your two daughters, specifying how much you would like to give each of them (90% to one, and 10% to the other in this case) is almost as simple as saying just that in a properly executed will. Wills can leave what are called "bequests" to different individuals, and you can specify... Read more »
All the bills are in his name only - I had not signed anything.
answered on Mar 11, 2022
Generally speaking, you are not responsible for the debts of another person, even if its your husband's medical bills as in this case. Since they are in his name only and you did not sign anything personally guaranteeing payment, you are not responsible for that debt.
However, your... Read more »
Then give that money to his mom to buy us a house. Now separated and she sold the house and we are goin through a divorce. Am I entitled to all the money back. Or do I need to split it with my ex husband. Do inheritance laws prevail or are they trumped once I deposited that money into his account
answered on Feb 11, 2022
That money has become marital property. It is now subject to an "equitable" distribution. This means a "fair" division, not necessarily an "equal" division. You should get lawyer to help you with this.
My dad wants to remove my son from deed and titles. He has had to get a protection order against him. My mom wanted him on the deed and titles. My mom has passed and my dad wants to cut him out of everything.
answered on Feb 11, 2022
Colorado recognized joint ownership of vehicles. Check with the rules for your county; try typing in the name of your county/state and "joint vehicle registration" for help. For example, our office is in Larimer County, which posts this information:... Read more »
Live in Colorado. Assets worth $130,000. All jointly owned. No real property. He has 1 child from another spouse. No will or trust
answered on Feb 9, 2022
As with so many answers about estate planning issues, the answer is "it depends", and how to proceed depends on you and your spouse's wishes. It is very possible to avoid probate or be able to use a much simplified process of probate but it generally depends on what those assets... Read more »
I want to change my trust document to give my corporation to a person upon my death. How do I complete the sentence?
If assets of XYZ Consultants are a part of the Trust Estate Trustee shall
answered on Feb 3, 2022
Closely-held corporations in Colorado own assets in the name of the company even if the company is owned and operated by one person or a family. To use your example, the assets of XYZ Consultants would remain in the business if the owner of a single-member LLC died. Only if the business is... Read more »
His estate is in probate and nobody was beneficiary on truck loan . But has 2 kids that dont want the truck and cant pay off the loan.
answered on Jan 23, 2022
You can make an offer to buy the truck from the estate for an amount equal to the amount to pay off the loan. Make sure the estate does in fact use the cash to pay off the loan, of course.
I understand that a living trust must be funded, for example, by assigning interest in tangible property, assigning vehicle title, changing ownership of financial accounts to the trust, and that these items are listed as the property of the trust. My question is about assets that would transfer to... Read more »
answered on Jan 22, 2022
In Colorado, all trusts have four moving parts: a creator, a manager, a beneficiary, and some valuable assets. The valuable assets in the trust (called the "res" in some legal reference materials) are often just listed as "a dollar, and any other assets transferred in the... Read more »
answered on Jan 17, 2022
In Colorado, a self-proving will must conform to Colorado Rev. Statute § 15-11-504 and does require two witnesses. Any will, notarized or not, that did not have witnesses is not self-proving. While it is possible to form the self-proving feature after a will is otherwise formed, it is most common... Read more »
are trustees required to submit forms proving powers of appointment?
answered on Dec 18, 2021
Irrevocable trusts are required to be registered as are estates subject to probate. Revocable trusts and estates under the probate requirements are not required to be filed with the district court, probate court in Denver County.
The best way to find out is to go to ICCES... Read more »
I would like a lawyer to explain to me in layman's terms what's really going on with my grandfather's estate and my inheritance
answered on Aug 6, 2021
Hire a competent CO attorney to look at the documents and give his assessment. You may need to examine the Probate Case File at Court, or at least call the Clerk.
Husband and I were separated I left the house, husband has since past away, I take over the property. There's 2 people I've never met staying there, no leases. We found meth and other drug paraphernalia. Can I kick them out immediately
answered on Jun 18, 2021
You can evict them through the formal eviction process if they will not leave upon your request.
Her will stipulates that if any of her children passes away before the final distribution is made, that child's share is divided among the remaining living beneficiaries. Is it possible to put a provision in my will so that if I die before the final distribution is made, my share will go to my... Read more »
The brother has several people living in there & it's a mess. we can't find a will. There are no other known assets Mom passed away Nov. 2019. Can we legally get him out in order to sell the property. He is back & forth & both. We have changed the locks & he changes them.... Read more »
answered on Jun 15, 2021
One option: Have one of the children file for probate and ask to be appointed personal representative of the estate. The PR can bring an eviction action if necessary. The PR can then sell the properties and administer the estate by paying any liabilities and distributing the proceeds among the... Read more »
Our life insurance policies have beneficiaries as do our retirement accounts. We will name each other as agents/beneficiaries and another family member as a secondary agent.
answered on Jun 6, 2021
It is always a good idea to have a will to ensure that your property passes as you wish rather than by state law. Additionally in your will you appoint a personal representative to handle the estate. Certain retirement accounts may be passed to the other spouse if you have a survivor benefit plan... Read more »
answered on May 25, 2021
You don't "need" a will if you don't care who inherits your real and personal property after you die. You can just let the chips fall where they may. A lot of people do care, however.
Are your parents still alive? Are you OK with them inheriting everything? If your... Read more »
^*buy.
I have been planning to leave an emotional and verbally abusive marriage. I am making a safe plan to leave. I got a job and have been pre-approved to buy a home. Will my husband tried to fight for the house if he finds outs? I am sincerely doing this for my safety and my kids. We... Read more »
answered on May 23, 2021
I am sorry to hear about your situation. In your situation, if you would like to purchase a home before the dissolution is final, it may be best to file for legal separation or wait until after a dissolution to purchase the property. Anything that you purchase after a decree of legal separation is... Read more »
answered on Apr 15, 2021
I'm not sure what difference the death certificate makes. In Colorado, the Personal Representative controls disposition of the decedent's assets. The Personal Representative is appointed by the probate court. It usually is whomever is named as PR by the will. If no will, then the PR is... Read more »
answered on Mar 20, 2021
If he was the personal representative of the will, he could. Particularly if your father indicated that cremation was his wish.
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