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Under Colorado law, a personal representative must be of sound mind and over 20 years old. It is also a good idea to choose at least one successor personal representative who could serve if your primary personal representative is unable or unwilling to do so.
If you name yourself trustee, you'll need someone to serve as the successor trustee for when you die. This will be the person to distribute your property after you've died, so make sure you trust the person. Create the trust document: You can do it yourself with an online program or get the help of a professional.
By Petition to the Court (Formal Proceeding). The Probate Judge, Magistrate or Registrar may appoint a Personal Representative and determine Heirs after notice to all Interested Persons and after hearing on any objections. If you need assistance with legal decisions, you should contact an attorney.
A PR deed is a very specific legal document that should be drafted by an experienced probate attorney. Any mistakes in the drafting can come back to haunt the executor and make the transfer of the property fail.
An entry of appearance shall state (a) the identity of the party for whom the appearance is made; (b) the attorney's office address; (c) the attorney's telephone number; (d) the attorney's E-Mail address; and (e) the attorney's registration number. (2)Withdrawal From an Active Case.
(7) A personal representative appointed by a court of the decedent's domicile has priority over all other persons except where the decedent's will nominates different persons to be personal representative in this state and in the state of domicile.
Steps to Create a Will in Colorado Decide what property to include in your will. Decide who will inherit your property. Choose an executor to handle your estate. Choose a guardian for your children. Choose someone to manage children's property. Make your will. Sign your will in front of witnesses.
Even without a statutory guideline on executor fees in Colorado, the general understanding among legal professionals suggests that an executor can expect to receive about 2-5% of the estate's value. However, this percentage can vary based on the specifics of the estate and the executor's duties.