Legal Question in Wills and Trusts in Colorado

my sons mom passed away a couple months ago. she had life insurance with him as the beneficiary. im trying to find out what i need to do since im his legal guardian now . i was told by the life insurance company , that i need to go to the court and be appointed my sons guardian of estate or a conservitorship. why do i need to have this done if im his father and legal guardian? he is 5 years old . they say it will take 4 to 6 weeks for the paper work to go through. will i be able to invest my sons money in an account of my choice or will the court make me put it away until he is 18 or older?


Asked on 1/29/13, 5:37 pm

1 Answer from Attorneys
Dennis Valentine Law Office of Dennis Valentine

Since the money belongs to your child, the court requires a procedure to ensure that the child gets the money. If the life insurance money to your child exceeds $13,000, a Colorado court will require a conservatorship be created for your child. You could be the conservator. You did not say if your son's mom had a will, died while a resident of Colorado, or whether the executor/personal representative of her estate was using an attorney. Those issues and others might change my recommendations to you. However, at this point based upon your question I would suggest that you contact an experienced probate attorney to determine how to proceed. You can create the conservatorship on your own using court forms and instructions found on the Colorado Supreme Court website, but the process would go smoother if you hired an attorney.

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Answered on 1/30/13, 9:00 am


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