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If you’re the executor of a loved one’s will, you’re in charge of filing for probate after they pass. Doing so in a timely manner ensures faster asset distribution for beneficiaries, as this begins the legal review process of their will. Still, you may be dealing with numerous other arrangements and executor responsibilities, so how long do you have to file probate after a death?
Below, we discuss the filing deadline for Colorado probate law and the legal timeline you’ll follow throughout the estate administration process. If you need fast financial relief, consider seeking a non-recourse inheritance advance to support you during the lengthy probate process.
What Is the Required Timeline for Filing Probate?
Probate is a public court process that validates a person’s will and administers their assets to their defined beneficiaries. When a will is available, the defined executor must submit it and file for probate within a defined period set by state regulations.
The legal timeline in Colorado for will submission and probate filing is three years. A few limited circumstances may extend this timeframe, but in the majority of situations, executors must file probate within this timeframe.
While you have multiple years to file probate after the person’s passing, it’s usually a smart idea to start as soon as possible. Probate can take months or years, especially for complex estates, so you may want to begin soon so you can access the wealth or allow the beneficiaries to do so.
Do Probate Filing Deadlines Vary Between States?
Probate deadlines vary significantly between states. While Colorado’s filing time frame is three years, other states, like New York, do not set a limit on when executors must file.
Some states, like New York and Florida, have extremely strict filing deadlines, where you must begin the process only a few days after the person’s passing. In Florida, you must file the will in probate court in 10 days or less. Be sure to study the requirements in your state so you do not miss these key deadlines.
What Happens If You Fail To File on Time?
Now you know the answer to “How long do you have to file probate after a death?” but what happens if you don’t file?
The will executor or the deceased person’s close loved ones are responsible for filing probate. You may face financial ramifications if you fail to do so within the state’s required timeframe. A beneficiary or other party could sue you if they suffer financial harm.
Other Will Executor Responsibilities To Be Aware Of
As a will executor, you’re responsible for more than just filing for probate. You’re also in charge of the following key tasks:
- Securing the person’s assets
- Managing the deceased person’s debts and notifying their creditors
- Taking inventory of their assets
- Distributing assets to beneficiaries
- Handling the person’s tax obligations
- Resolving any disputes that arise from their will
- Providing reports to probate court
- Communicating with beneficiaries
- Closing the estate
- Ensuring legal compliance
How To Begin the Probate Filing Process
When you’re ready to begin the probate filing process, you’ll need to take a few probate planning steps. Gather the appropriate documents and begin taking inventory of the deceased person’s assets. Here are the first steps you should take:
- Request a copy of the person’s will and death certificate.
- File an official probate petition with the Colorado probate court.
- Prepare a list of the deceased person’s assets and debts.
Combining through assets and debts is a cumbersome task that takes time and requires careful evaluation. You can work with a probate attorney for support.
The General Probate Process After Filing
How long do you have to file probate after a death? Colorado gives you three years, but the process can take multiple years, so you’ll want to begin soon. Let’s take a look at what this process entails:
- The court ensures the will is legally valid through an examination process.
- The court officially nominates a will executor, who is typically the same person nominated in the will.
- The executor inventories the estate, listing all properties, financial accounts, digital currencies, and other possessions.
- The executor notifies creditors and beneficiaries.
- The executor collects any money owed to the deceased and uses money from the estate to pay off their debts before distributing the remaining assets to the beneficiaries.
- The executor submits documentation and receipts proving the above to the court and then requests that the estate be closed.
What Can You Do During the Probate Process To Support Yourself Financially?
Probate is a lengthy and often frustrating process. You may need to fork out personal funds for court costs, legal representation, and more. If you need help supporting yourself in the meantime, you can consider a non-recourse inheritance advance.
Probate cash advances are non-recourse loans that provide you with funding as you wait for probate to finalize. You now know that you should file probate as soon as possible, but if you need financial support during the lengthy process, consider applying for a cash advance to help you cover costs until you settle.
Do You Need Fast Financial Support?
Beyond answering, “How long do you have to file probate after a death?” you may want further insights on questions like “Does a will override a trust?“ so you know which document takes legal precedence.
If you’re seeking a non-recourse inheritance advance, apply with Rockpoint Probate Funding online today or call us at (888) 263-8588 with any questions.
