Last Will And Testament Form Colorado: Fill & Download for Free

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In Colorado, the will would remain valid, but the ex would be eliminated as a devisee. Absent a new will the new spouse would take the same share s/he would take were testator to die intestate.Any competent estates attorney would advise someone in that position to make a new will after s/he remarries. Also creating a premarital agreement (prenup) would be a great idea, especially if either or both parties to the new marriage have substantial assets they wish to devise to their children by prior marriages, etc.

At the outset, I want to debunk a post on this thread that contains major misinformation.A Quoran on this thread stated that beneficiaries cannot serve as personal representative (executor/trix) of a will:The person who is making their LAST WILL AND TESTAMENT can nominate anyone whom they please to become EXECUTOR of their Estate so long as the Executor is not one of the beneficiaries.(italics mine)Untrue. A person making his/her last will can nominate anyone s/he pleases to be personal representative of his/her will. In Colorado, the nominee must be at least twenty-one years old and of sound mine. Sec. 15-12-203(6), Colo. Rev. Stat. Further, pursuant to the Colorado Fiduciaries Powers Act, found at Sec. 15–1–804, Colo. Rev. Stat., irrespective of the PR nominee also being a beneficiary of the estate, by accepting appointment at PR s/he has a fiduciary duty to treat all creditors and beneficiaries equitably and fairly, including him/herself:In the exercise of any of his powers, whether derived from this part 8 or from any other source, a fiduciary has a duty to act reasonably and equitably with due regard for his obligations and responsibilities toward the interests of beneficiaries and creditors, the estate or trust involved, and the purposes thereof and with due regard for the manner in which men of prudence, discretion, and intelligence would act in the management of the property of another.With the above legal cites to the Colorado Probate Code in mind, in Colorado anyone, including a beneficiary of an estate, can be nominated to serve as a testator’s PR. In order to accept appointment and serve as PR, nominee must be at least twenty-one years old and of sound mind.When do people name someone other than a spouse as an executor of their last will and testament?First, the obvious: testator may not have a spouse or an ex-spouse to nominate as PR;It was mentioned testator fears s/he and spouse could die together in an accident, though a well drafted will will nominate contingent PR(s) to serve in case the primary PR is unavailable or unable to serve.;It could be testator and spouse are getting older and testator feels that carrying out the vast duties of personal representative might be too much for the person;Testator may have a vast and complicated estate and feels his/her spouse is not sophisticated enough to serve as PR, even with attorney assistance;Testator may prefer that his/her child/children would be better suited to serve as PR;Testator’s spouse has passed and his/her children live out of state and would thereby be less available to serve as PR, especially in states with supervised probate that could require court appearances;Again, testator may have a vast and complicated estate including out-of-state or out-of-country real property all needing professional expertise in probating complex estates, so s/she may want to appoint a professional fiduciary to serve as PR, irrespective of potentially high professional fees that could deplete estate monies.Any reason not mentioned, above.Thus, there are many reasons why testators nominate someone other than spouses as personal representatives (executors) of their last wills.