Deed Personal Representative Without Probate
Description
How to fill out Colorado Deed Of Distribution - Personal Representative To Two Individuals?
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FAQ
Generally, the person who oversees your estate is known as your ?personal representative.? California law also refers to a personal representative as an ?executor? or ?administrator.? All three terms describe the same function, although there is a legal distinction between their method of appointment.
A personal representative cannot resign without the probate court's consent, and then only when a successor personal representative is appointed.
Yes, it's quite common for the personal representative to also be the beneficiary. Oftentimes, that personal representative/beneficiary is a surviving spouse or immediate family member.
Generally speaking, a Personal Representative is responsible for opening the estate, collecting the assets of the estate, protecting the estate property, preparing an inventory of the property, paying various estate expenses, valid claims (including debts and taxes) against the estate, representing the estate in claims ...
You may be able to proceed without Probate if: the fair market value of the entire estate of the deceased, less liens and encumbrances (everything the deceased owned minus everything the deceased owes) is $100,000.00 or less. thirty days or more have passed since death. you are not a creditor to the estate.