Twelve Common Misconceptions About The Colorado Probate Process
By DouglasTurner.com • Dec 14th, 2009 • Category: Common Misconceptions About Colorado Probate, Estate Planning & Colorado ProbateOur office routinely handles the same questions or misconceptions about the Colorado probate process. Twelve of the most common Colorado probate misconceptions are listed in this 12 part series.
Colorado probate misconception #7 (Part 7 of 12)
Colorado probate misconception #7: The will names you as the executor / personal representative, so therefore you are automatically in charge and the bank/financial advisor must talk to you. Sorry. Just because the decease nominated you in the will does not mean anything until the will is properly admitted to probate and the judge says that you are in charge. The court document needed is called Letters Testamentary (when there is a will) or Letters of Administration (when there is not a will).
DouglasTurner.com.
This column is not legal advice nor does it create an attorney-client relationship with the reader. Due to limited space, complex legal concepts and rules may be stated in terms of general concepts.
Based on 2009 Colorado and Federal law. Consult legal counsel before acting on any information contained in this column.
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