One of the key elements of probate proceedings is dealing with a decedent’s creditors before distributing the assets of the estate. While this can be a relatively easy and minor process in some cases, in more complex situations, it can take some time to resolve creditors’ claims against an estate.
At Colorado Estate Matters, Ltd., our Denver estate planning lawyers are skilled at helping people effectively handle the process with creditors and probate. We ultimately assist them in getting through the probate proceedings with minimal hassle, headaches, and costs. We have the experience and knowledge you can depend on when it comes to resolving a probate case as favorably and efficiently as possible.
The Process of Dealing with Creditors during Probate
Colorado Probate Code outlines the process for dealing with creditors during probate proceedings. According to this law, the personal representative of an estate (i.e., the person who is overseeing the administration of the estate and the probate process) must make an effort to notify a decedent’s creditors about the death and handle claims that creditors may have against the estate.
When notifying creditors, the personal representative is responsible for:
Publishing a Notice to Creditors in newspapers where the decedent lived and where the probate is taking place
Making sure that this Notice is published at least once a week for three consecutive weeks
Ensuring that the probate case remains open for at least 6 months (if the notice is published) or at least one year (if the notice is not published) from the date of the death.
Once the required time frame has expired, the personal representative will have the tasks of:
Determining the legitimacy of each creditor’s claims
Consolidating and potentially liquidating any estate assets to make funds available to pay the legitimate claims from creditors
Paying the creditors.
Dealing with creditors during probate can be as complicated as it may be stressful, so it’s always best that you work with the Denver probate lawyers at Colorado Estate Matters, Ltd. to ensure that:
No costly mistakes are made when dealing with creditors.
These matters are handled appropriately and with the utmost care.
Denver Probate Attorneys at Colorado Estate Matters, Ltd.
When you are dealing with creditors during probate, don’t hesitate to contact the Denver probate lawyers at Colorado Estate Matters, Ltd.. We are experienced at representing our clients’ interests throughout the probate process in order to help them obtain the best possible outcomes to these proceedings. This means that our clients can always rely on us to provide them with:
Competent, caring and professional representation
The highest quality of legal services at affordable rates.
Our Denver probate lawyers are skilled at using a variety of traditional and innovative strategies to successfully deal with creditors and resolve probate proceedings. Our primary goal is to help our clients get through probate with minimal costs and complications so they can focus on their future.
To minimize the potential headaches and costs of dealing with the process of creditors and probate, contact the Denver probate lawyers at Colorado Estate Matters, Ltd. You can learn more about our array of probate legal services by meeting with us for an initial consultation. To schedule this meeting, call us at (303) 713-9147 or email us using our convenient online contact form.
From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village, Englewood, Centennial, Wheat Ridge, Golden and Arvada.