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Colorado Estate Planning Questions & Answers
1 Answer | Asked in Estate Planning and Probate for Colorado on
Q: My mother owns property. Should my sister and I add our names or just probate it when she passes for tax purposes?

We have been advised that if she allows us to add our name to the property and the mobile home on the property it could be considered a gift and we would be liable for taxes. Would it be better to probate it when she passes? The property is only worth about $45,000.

Tristan Kenyon Schultz
Tristan Kenyon Schultz
answered on Jan 27, 2016

You really have three options. One, create a life estate trust with the real estate (avoids probate, but is probably not cost-effective for your situation). Two, allow the property to transfer at probate; estate tax will very likely not apply, but probate takes time (usually 1-2 years and can be... View More

1 Answer | Asked in Estate Planning and Banking for Colorado on
Q: Can I sue the bank for letting my mom access my trust to spend it all?

I inherited $50,000 when my grandfather died. My mom, who is mentally ill, found loop holes to access this money. It was not supposed to be used until I was 18, it's intended purpose was to pay for my college. My mom spent all of it. Can I sue the bank for letting my mom access my money and... View More

Tristan Kenyon Schultz
Tristan Kenyon Schultz
answered on Jan 23, 2016

It depends, if your mother was named on the account (which is very likely) then no the bank cannot be sued. However, if your mother is not on the account or your trustee then the bank should not has distributed the money as suit is possible. If your mother committed fraud, then it depends on... View More

1 Answer | Asked in Estate Planning for Colorado on
Q: What can I do to give my husband control of my medical AND financial decisions in the state of Colorado?

Because I am medically disabled, cannot leave my home without extreme difficulty due to agoraphobia, and cannot afford an attorney?

Tristan Kenyon Schultz
Tristan Kenyon Schultz
answered on Jan 22, 2016

What you want is a durable power of attorney, medical directive, and durable medical power of attorney. The costs are quite low. DIY forms can be a low as $20-$30 for each document (they are ok, but not great). Most attorneys offer packages. By way of comparison, I offer a simple estate package for... View More

1 Answer | Asked in Estate Planning for Colorado on
Q: How do I have an attorney name me as either Executrix, Personal Representative, or Court Appointed Administrator?

I live in Colorado and I need to have this done for Ohio. My sister passed away this past January without an estate or will. She was having funds sent to a savings and loan from her retirement pay. The bank told me that I need to do this in order to claim these funds.

Terrence H Thorgaard
Terrence H Thorgaard
answered on Nov 5, 2015

An attorney in Ohio (assuming that is where your sister resided) will be able to help you do this. Call one.

1 Answer | Asked in Estate Planning for Colorado on
Q: What. Do lawyers charge for simple will. Average
Terrence H Thorgaard
Terrence H Thorgaard
answered on Oct 12, 2015

You should ask one in your state. They will not charge you for simply asking for an estimate.

1 Answer | Asked in Estate Planning for Colorado on
Q: Do I need an estate lawyer?

My mom passed in March. My sister lives close and decided to handle the sale of the house on her own. I offered to help however I could. Come to find out, it was a cash sale that happened over a month ago that nobody decided to tell me about. I gave the lawyer that she acquired a POA to sign... View More

Tristan Kenyon Schultz
Tristan Kenyon Schultz
answered on Oct 4, 2015

From the information you provided, you may have a claim of breach of fiduciary duty and/or malpractice towards the attorney and you may have a claim against your sister too. You will need an attorney for these matters.

1 Answer | Asked in Estate Planning for Colorado on
Q: My mother was an heir to her mother's estate. My mother has since passed away before the execution of the will.

Am I now an heir since I am her son? What legal penalties does the executor face if they do not execute in a timely manner? This probate case started in 2006 and no action has been taking on it. How can one "force" the executor to execute the will?

Tristan Kenyon Schultz
Tristan Kenyon Schultz
answered on Oct 4, 2015

Your case is difficult and you arguably will need an attorney to help solve this, but here is some background information that may help.

(1) Colorado has an anti-lapse statute which prevents the traditional common law solution in which your grandmother's devise would lapse and return...
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1 Answer | Asked in Elder Law, Estate Planning and Family Law for Colorado on
Q: Unmarried mother dies, minor heir,grandparents are guardians/conservator: does estate have to be liquidated to a trust?

Biological father has relinquished guardianship to grandparents (deceased mother's parents) of minor heir.

Robert Jason De Groot
Robert Jason De Groot
answered on Sep 27, 2015

Well, what are the assets of the estate? If there are no assets of the estate, probably not. If there are, maybe. Go see a local probate attorney about this.

1 Answer | Asked in Estate Planning for Colorado on
Q: Mom passed 10 days prior to stepdad in PA. Why did everything go to his children? What can I do?

The estate was large. In addition to keeping over 5 million, my mothers tax document states that we received $ when we did not get a dime! Right after my step dad passed they sold my moms condo for 100,000 under market value so they wouldn't have to pay the pa estate tax.

My estranged... View More

Robert Jason De Groot
Robert Jason De Groot
answered on Sep 21, 2015

You must get a probate attorney on your side. It appears the estate is in PA, and you need one there.

1 Answer | Asked in Estate Planning for Colorado on
Q: Who qualifies as a legal "issue" of a descendant?
Robert Jason De Groot
Robert Jason De Groot
answered on Sep 14, 2015

Natural born children and grandchildren, and usually children that were adopted.

1 Answer | Asked in Estate Planning for Colorado on
Q: If my mother has my name on all of her accounts (IRA, cds, title house, etc.) and no will- can it stay out of probate?

She has an old handwritten will that no longer has valid account info. My name and my sister's name is on most all of her assets. She thinks this is good enough to stay out of probate upon her death. Is this correct? She lives in Topeka, KS.

Terrence H Thorgaard
Terrence H Thorgaard
answered on Sep 13, 2015

Possibly, if all of her financial accounts are joint accounts with survivorship options, and if the real estate (the house) is titled as a joint tenancy with right of survivorship (JTWROS). She should double-check with the financial institutions that probate wouldn't be necessary, and also... View More

1 Answer | Asked in Estate Planning for Colorado on
Q: do I need a lawyer over my moms will?

My mother died almost four years ago's. In her will she gave various things to my brother and I including a piece of property that is been in our family for over 50 years. My stepfather is not signing over the land to my brother and I. He wants to sell the land so he can have the money. What... View More

Terrence H Thorgaard
Terrence H Thorgaard
answered on Aug 13, 2015

It depends upon how the land was owned. Did she own the land jointly with her husband, with a right of survivorship? If so, he may well be entitled to keep it. If, however, it is in her estate, he wouldn't have to sign it over in any case. A probate case should be opened and a judge should... View More

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