Arvada Trust Settlement and Probate Lawyer
If you are looking for a trust settlement and probate lawyer, it usually means that the worst has happened, and you have lost someone you love. Aside from the grief and the overwhelming amount of tasks that surround the death of a loved one, you are also burdened with the legal implications of trust settlements and dealing with probate.
At Brady, McFarland & Lord, LLC, we will handle the headaches for you. We understand the ends and outs of the process and will help you achieve your goals without all of the stress that typically accompanies a probate situation.
Why Choose Our Arvada Trust Settlement and Probate Lawyers?
- We have over two decades of legal experience and, over this time, have developed a keen sense of the strategies that will and will not work for our clients.
- You can expect individualized service from us. We have seen a lot, enough to understand that no two cases are alike. So, we do not offer cookie-cutter legal advice. We want to understand your needs and goals so that we can handle your issues in the best way possible.
- Our clients can probably give you the most insight into why you should work with us. We have earned their trust and hope to earn yours as well.
What is the Probate Process?
When someone dies, the estate must go through a probate process to transfer their assets to their heirs or devisees. This applies to wills and intestate estates. It can be complicated and expensive or simple and not very expensive, depending on the complexity of the estate and the estate planning surrounding it.
If there is a will, it is considered testate. Without a will, it is called an intestate estate. There are three types of estates recognized in Colorado. These are as follows:
- Small estates: If a person dies and has $50,000 or less in money and personal property and they do not have real property, devisees or heirs can simply file an affidavit and can avoid probate court. The devisee collecting the assets must swear they are entitled to and will distribute what is owed to other heirs or devisees.
- Uncontested estates: When there is a valid will or clear intestacy, no expected contests, and a personal representative available for appointment, the court will need minimal involvement. This is considered informal. But, they will ensure that the will or intestacy law is carried out. They will hold the personal representative accountable for the devisees and heirs.
- Contested estates: This is a formal probate that can be required if the will is contested, invalid, or if the terms are not clear. If substantial challenges in administration are made, the court could oversee and have to approve the personal representative’s every transaction, but the personal representative may be able to administer the estate without supervision as well.
Whether probate is formal or informal, it will be open with the court for a minimum of six months. But, usually takes much longer if full administration is required.
How Do I Establish a Trust?
To avoid the prolonged, expensive probate process, we often suggest establishing a trust. There are a few steps to establishing a trust, and your Arvada trust and settlement lawyer can walk you through the process. Below is a brief overview of what establishing trust entails:
- Decide whether you need an individual or shared trust.
- You must determine what property you want to include in the trust.
- Determine beneficiaries of the trust’s property.
- Choose a successor trustee.
- We will create the document for you, which must be signed and notarized.
- Transfer property into the trust.
Call Our Arvada Trust Settlement and Probate Lawyers Today
Contact our Arvada trust settlement and probate lawyers today if you have estate planning questions. We are happy to review your case and help you cater our services to meet your needs. At Brady, McFarland & Lord, LLC, we have the experience and skills to ensure your estate planning needs are implemented in the most beneficial way for you and your family.