Colorado Executor Duties Lawyer
A Colorado executor duties lawyer assists you with the full process of completing a loved one’s estate in probate. Probated assets include those that are not passed down through other beneficiary designations. Examples of other beneficiary designation transfers include payable on death bank accounts, transfer on death bank accounts, life insurance policies or even brokerage accounts.
In these other circumstances, the assets associated with a deceased’s estate are admitted for probate and all of these must be distributed and managed through the support of an executor. If you have recently been named in this role but are not clear about how to proceed, this is a good opportunity to speak to an experienced Colorado executor duties attorney.
Since probate can surprise some people as far as the time period involved and the amount of work involved, some executors elect not to do this process all on their own. This means you can use the services of someone with experience in this field to help guide you through and provide a sounding board, such as an executor duties lawyer.
Why You Might Need a Lawyer to Help You
As an executor duties lawyer in Colorado can tell you, there are many different questions that must be answered and tasks that must be handled in an appropriate order and managing this on your own is not always easy. In those circumstances retaining a legal representative as soon as possible after probate has been opened will help you get the necessary support for this important role and guide you through the process so as to minimize mistakes. No one should have to be alone in approaching the process of managing their executor duties and if you have questions about what this process looks like for you, use this opportunity to retain a lawyer who has extensive experience in this field.
Personal Liability and Executors
Executors can be held personally liable for mistakes that they make in handling cases. This means that if an executor handles a case in which they misappropriate funds or fail to represent the best interests of the beneficiaries, they could be held accountable in court and personally liable for actions that damage the assets inside the estate. In all of these unique circumstances, many of the problems could have been avoided by retaining an attorney early on. Even if you just have questions that you would like to have answered by an experienced lawyer, the best time to ask them is at the outset of a case before any mistakes have been made or actions have been taken.
You do not want to wait until an interested beneficiary is alleging that you damaged the value of the estate and wants to hold you personally accountable for any of their losses. As an executor duties attorney in Colorado can tell you, it can be a big responsibility to work as an executor. Many family members are caught off guard when they have been named in this role and were not prepared for all of the responsibilities or the personal liability issues with working as an executor. You can ensure that you have the appropriate confidence and approach to probate management by seeking out a lawyer early in the process.
If you’re ready to move forward, now is the time to get your questions answered so that you can get the support and help that you need in your own case.