Do I need a lawyer to carry out a will?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Do I need a lawyer to carry out a will?
My mother just passed away and her will states her assets to be divided among her 3 children. The only asset she has left is a cash amount of 17,000. She has no home, car, stocks, bonds, annuities, or insurance policies.
Asked on April 16, 2018 under Estate Planning, Colorado
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
No, you do not need a lawyer to admister a Will. In fact, a Will need not be entered into probate under certain circumstances. Many states have simplified probate procedures for small estates. In CO, an inheritor can prepare a short document signed under oath, called an affidavit. It states that they are entitled to a certain asset. When the person/entity holding the property gets the affidavit and a copy of the death certificate, it releases the asset.
The out-of-court affidavit procedure is available in Colorado if the fair market value of property that is subject to disposition by will or state intestate succession law, less liens and encumbrances, is $64,000 or less. (This amount is adjusted for inflation and excludes joint tenancy property, property in a living trust, payable-on-death bank accounts, and other kinds of property that don't pass under a will.) There is a ten-day waiting period. Colo. Rev. Stat. Ann. § 15-12-1201.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.