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Colorado Estate Planning Questions & Answers
1 Answer | Asked in Estate Planning for Colorado on
Q: Can a provision be made in a Revocable Trust for alternate beneficiaries after the sole original beneficiary dies?

Can named alternate beneficiaries receive any residual real estate from Trust after lifetime of original beneficiary. (This would be the only thing in Trust & would necessitate Trust being left open) If so, must the alternate beneficiaries be told/informed when the Trustor first dies? That... View More

Joel Hassell
Joel Hassell
answered on Sep 16, 2024

Yes, in Colorado, provisions can be made in a revocable trust for alternate beneficiaries to inherit after the sole original beneficiary dies. This is standard practice, where alternate (or contingent) beneficiaries are named to receive trust assets, such as real estate, upon the death of the... View More

1 Answer | Asked in Estate Planning for Colorado on
Q: I’m single w/my mortgaged condo w/ $150,000 equity. How to avoid Medicaid Estate Recovery so my heirs can have it?
Joel Hassell
Joel Hassell
answered on Sep 6, 2024

If you are concerned about preserving your condo with $150,000 in equity for your heirs and avoiding Medicaid Estate Recovery, there are some strategies you might consider. However, each has important implications and requirements under Colorado law.

Key Strategies to Consider:

1)...
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2 Answers | Asked in Estate Planning for Colorado on
Q: What form is needed to fund a living trust with real estate
Nina Whitehurst
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answered on Aug 29, 2024

A deed is used to transfer real property to a living trust. The deed must be recorded in the land records of the county in which the real property is located. There are several types of deeds. An attorney can help you prepare and record the right kind with the right claims for exemptions from... View More

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2 Answers | Asked in Estate Planning for Colorado on
Q: What form is needed to fund a living trust with real estate
Joel Hassell
Joel Hassell
answered on Sep 6, 2024

In Colorado, to fund a living trust with real estate, you typically need to transfer the title of the property into the name of the trust. The primary form required for this process is a deed, specifically a quitclaim deed or a warranty deed.

Here are the basic steps:

1. Prepare a...
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2 Answers | Asked in Consumer Law, Estate Planning and Tax Law for Colorado on
Q: Hello I am trying to turn my LLC into my holding company which means I need to file Articles of Cooperation and a 2553?

Just formed my LLC and want it to be the holding company and an S corp what do I need to file and in what order?

Joel Hassell
Joel Hassell
answered on Sep 6, 2024

I mostly concur with the earlier answer provided to your question above. Here is my response with a few more notes

1) Use Your LLC as a Holding Company: Structuring your LLC to act as a holding company simply involves using it to own other businesses or assets. You don’t need to file...
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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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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

James L. Arrasmith
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answered on Mar 15, 2024

In this scenario, the house sold by the executor, on behalf of the estate, is still considered inherited property. Since the woman passed away without a will, the estate is handled according to Colorado's intestate succession laws. The property, even though not formally transferred to the... 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
Michael Joseph Larranaga pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
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, Probate and Real Estate Law for Colorado on
Q: How to stop a sale of property after deceased
Michael Joseph Larranaga
Michael Joseph Larranaga pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
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 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 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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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 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?
Kevin Michael Strait
Kevin Michael Strait
answered on May 18, 2023

I'm sorry to hear of your husband's passing. In Colorado, no attorney is needed to be appointed as the personal representative of an estate. A personal representative is given several responsibilities, such as collecting all the deceased person's possessions, making gifts of the... View More

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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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