The Estate planning law in Denver acknowledges the right of any person +18 years old to use a will in order to express how personal possessions and business ventures should be divided upon the person`s death.
Through a last will and testament, a testator can also:
- name a guardian for minor children
- create a trust for the care of animals alive
A will is accepted only after being proven in probate court, meaning that it must go through a supervised process of distributing the estate of a deceased individual. Also, in Colorado, a will must be filed within 10 days of the person`s death. Any will has a legal executor that will pay off taxes, debts and distribute the testator’s property, once the will is proven valid in probate court.
There is a special procedure, which bypasses probate, for estates under $50,000 and for the case when there is no real property.
Other basic requirements:
- the testator must be of sound mind
- According to Denver estate planning lawyers, the will must be signed by the testator or by someone else having the legal right to sign on behalf of the testator, as well as by at least two witnesses.