Legal Question in Wills and Trusts in Colorado
Inheritance without will in Colorado
When I was 2 my father died without a will or any such thing. In accordance with Colorado law at the time, it was invested to wait for me until I turned 18. Meanwhile, my family moved to Montana. When I turned 17, I contacted my Grandfather, who is largely in charge of managing my inheritance, to find out more about my inheritance and how it would turn over to me when I turned 18. He informed me that Colorado had changed it's law and I would not recieve it until I turned 21. I'm now 19 and wondering how true this all is and, if so, how will it come to me when I'm 21? Thank you for your time and help.
1 Answer from Attorneys
Re: Inheritance without will in Colorado
The answer to your question depends a great deal on how you inheritance has been held for you.
If the inheritance were held in a trust, the provisions of the trust will determine when you are entitled to receive distributions. If the trust states that you are entitled to receive your distribution at age 18, then that provision will govern. However, since your father had no will, I doubt that he had a trust either.
More likely, your inheritance was placed into either a conservatorship or a special custodial account, either called a Uniform Transfers to Minors Act (UTMA) account or a Uniform Gifts to Minors Act (UGMA) account. Under Colorado law, both conservatorships and UTMA/UGMA accounts will remain in effect until you reach age 21.
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