Legal Question in Wills and Trusts in Colorado
Probate, Real Estate Survivorship
My father recently passed leaving my mother and five adult children. He had very little assets; two old vehicles, $100 in sole bank acct, personal affects, no stock/bonds/401k. He was self employed as house painter, minimal business assets (ladders) He has numerous credit collections and 4 judgements for credit collection. My mother needs to refi home to afford, will she have to pay the judgements solely against him? Will this complicate the refi even if they don't have to be paid? Can the estate be closed by affidavit? How do we get creditors to view their claims as closed/futile?
1 Answer from Attorneys
Re: Probate, Real Estate Survivorship
It would be recommended to open the estate or let the creditors open the estate. You can also contact the Public Administrator.
The refinance could be complicated if your father's name was on the property. Due to these issues, you should consult with an attorney experienced with estates in your county.
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