Colorado Trusts Legal Questions

Your restaining order should prevent him from sending you documents.  It is considered contact.   You were correct in not signing anything.  Listing your house as an asset of his trust doesn't make it so, and any responsible entity, including the IRS, would check the Registry of Deeds to determine who owns the property.  So don't sign any deeds or other papers and take a look at the restraining order.  If it includes any contact, you can contact your local district attorney and report the violation.  Good luck.  ... Read More

If the lawyer never made the change, you could try to get the Court to amend the trust or, more likely, you'd have a malpractice claim against the attorney. I'd need more facts to tell you whether or not you should settle with the grandchildren and what recourse you'd have. I consult on cases like this for $235 per hour. You likely could have the trust (or the estate) pay any attorney fees. I offer a free initial consultation if you'd like to call me (and assuming this is a Colorado trust). I hope this helps. ... Read More

These days, most people use trusts to avoid probate, as if all your assets are in the trust, you don't have to go through probate. in your situation, the value of a marital trust (versus a revocable living trust) is to avoid estate taxes. While you might not have a taxable estate currently, with a $10.5M exemption, if your net worth increased by even 2% this year, that would be $200,000 and you'd be taxed at 40% on this amount, or $80,000. It might cost you $2,000 to $3,000 to create a trust, so that is a good ROI. I also advise clients in your situation to use the annual gift tax exclusion, under which you and your spouse each can give up to $14,000 per year tax free (and without triggering the need to file a gift tax return) to anyone you like (e.g., you could each give $14,000 to each of your kids, or $84,000 out of your estate). You could also make similar gift to your grandkids (or into a trust, such as an education trust, for the grandkids). The bottom line is that as long as your estate remains at or below $10.5 million and the estate tax rules don't change (and you don't have property in any other states), there is not currently a compelling reason to use a marital trust in your planning. I hope this helps. ... Read More

If there was no will, the estate passes by what is called "intestate succession." In Colorado, this means that the estate, in this case, would be divided among the three brothers, who then could do whatever they wanted with it, or, if a brother did not survive, his 1/3 share would be split among his kids (so, that might not be be an equal distribution to the grandkids). This is called by representation. Without a will, the court is going to follow the law of intestacy. Unfortunately, it does not sound like there is not much you can do based on your facts here. ... Read More

I am sorry to hear this. You can find out how the property is titled by looking it up in the county assessor's records. You will need to see the deed (from the clerk and recorder) to know what type of property interest the parties had (if they were tenants-in-common, then his interest would pass under his will or by intestacy if there was no will; if they were joint tenants with right of survivorship, then the girlfriend would now own his interest). Expenses definitely can be taken from the estate. You will need to open probate if he owned real estate. I help people with probate cases all over Colorado if you would like assistance (I would also be paid from the estate); feel free to call me if you would like assistance. I hope this helps. ... Read More

Yes, within reason. Under Colorado law (CRS 15-16-303), a trustee is required, among other duties, to (1) upon reasonable request, provide the beneficiary with a copy of the terms of the trust which describe or affect his interest and with relevant information about the assets of the trust and the particulars relating to the administration, and (2) upon reasonable request, provide the beneficiaries with statement of the accounts of the trust annually. I hope this helps. ... Read More