Estate Law Questions? Ask an Estate Lawyer.
Hi, My name is***** am an attorney with over 16 years experience. Hopefully I can help you with your legal question.
I am sorry for your recent loss.If you were not married? Then you would not have any right to an automatic portion of his estate.
CO law dose have a process for a widow or widower to claim a portion of the estate, but this would not apply if there was no marriage.
Again, I am sorry for your loss
Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.
The trust is separate and distinct from the estate...why are the trustees involved in this at all? Are they also serving as executor for probate?
They way they are proposing (they collect the debt THEN they pay the gift) is the proper way to settle the estate. One of the duties of the executor is to collect all debts associated with the estate. This must happen BEFORE they pay the heirs to the estate. So they need to collect the money you owe before they will pay you...that is the proper sequence for administering an estate.
This is the part of my job I don't like...when the law is not in favor of my customer. I wish I could tell you that you can demand they pay you the gift before you pay your debt, but I can only provide you information based on the law so that you can act on the best available information to you...I wish I had better news, but can only hope you recognize and understand my predicament and don't shoot the messenger. I'm sorry!
NO...it is NOT taxable to you. The tax, if any, would be paid by the estate.
Welcome. Thank you for taking the time to accept the answer, I truly appreciate thatphil
Ahh...thanks for that :). I have no idea (I am a user of the website like you...so I have not input into the billing), but take that money and send it toward Hurricane Relief...the fact you were planning to give to me warms my heart!