Legal Question in Wills and Trusts in Colorado
Type of will I would need
I am married and My brother and I inherited a house last year from my mother when she passed away as part of her living trust. I need to do a will in case something were to happen to me and not sure what type I would need. I am married with older children and 1 minor child. What do you suggest? I live in Colorado and the house is in California.
1 Answer from Attorneys
Re: Type of will I would need
You have several options on the type of estate plan you create. Since you own property in Colorado and California you may wish to consider a plan that would help you avoid probate in California.
Probate in Colorado is simple and informal, however, property is subject to probate issues in the state where the property is located. These issues should be considered as part of your planning.
Next you should consider how and in what manner the inheritances will pass to your children. You mention one minor child, and how that child's share should be structured merits consideration.
You should consult with an experienced attorney in your area to obtain objective advice to assist you in making decisions about your estate plan and to create the necessary documents.