If my mother died recently with no assets or investments, just money in the bank, and her Will splits it 3 ways with her offspring do we need a lawyer?
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If my mother died recently with no assets or investments, just money in the bank, and her Will splits it 3 ways with her offspring do we need a lawyer?
With less than 15K in the bank, there isn’t enough to hire a lawyer. Can the executor distribute funds to the heirs with a lawyer? And once that is done, does there need to be a document filed with the probate court.
Asked on April 17, 2018 under Estate Planning, Colorado
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
It is not necessary to have a lawyer to admisniter a Will. In fact, many states have simplified probate procedures for small estates so probate can be avoided entirley. In CO, a benefciairy can prepare an "affidavit" (i.e. a short document signed under oath"). It must state that they are entitled to a particular asset. When the person/entity holding that asset gets the affidavit and a copy of the death certificate, it releases it. At this point, you can contact the appropriate probate court or check online for further information.
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
It is not necessary to have a lawyer to admisniter a Will. In fact, many states have simplified probate procedures for small estates so probate can be avoided entirley. In CO, a benefciairy can prepare an "affidavit" (i.e. a short document signed under oath"). It must state that they are entitled to a particular asset. When the person/entity holding that asset gets the affidavit and a copy of the death certificate, it releases it. At this point, you can contact the appropriate probate court or check online for further information.
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