Rotole, Rotole & Blanchard, L.L.C. assists clients in the Denver Metropolitan Area with probate administration and estate planning matters.
Definition of Probate
The term "probate" is derived from the Latin term meaning "to prove the will". Probate refers to the process where a court oversees the administration of a deceased person's estate. The purpose of the probate process is to ensure that any final debts and expenses are paid, including any taxes owed, and any remaining assets are distributed to the beneficiaries named in a will, or if there is no will, in accordance with Colorado's intestate succession statute (Article 11, Part 1 of the Colorado Revised Statutes).
Hal R. Blanchard has extensive experience in the area of probate administration, and has probated estates of all sizes and complexities, ranging from simple estates to sizeable estates comprised of large holdings in real estate, business interests, and assets located in more than one state.
Planning to Avoid Probate
The primary disadvantages of probate are the cost, time delay and lack of privacy associated with probate administration. Many clients desire to avoid probate altogether, and probate may be avoided through careful estate planning. A properly funded revocable living trust allows assets held in the name of the trust to pass to the beneficiaries named in the trust, in accordance with the provisions of the trust, without the requirement of probate administration. There are other methods of avoiding probate, such as titling assets in joint tenancy with right of survivorship, and beneficiary designations on certain types of assets. An experienced estate planning and probate attorney can explain the advantages and disadvantages of each method.
Seek Experienced Legal Representation
Serving as the personal representative of a decedent's estate involves many fiduciary duties and responsibilities. It is important to seek the guidance and representation of an experienced Colorado probate attorney. Contact Rotole, Rotole & Blanchard, L.L.C. to schedule a complimentary consultation with an attorney with nearly four decades of experience in probate, trust and estate matters.