Home > Research Legal Advice > Probate > Intestate insolvent Colorado estate. No real estate. Do we need to file ...
Asked over 1 year ago - New York, NY
FlagConcerns about IRS claims and unknown creditors. Decedent left very little paper trail. Possibly an IRA. Do we need to file informal probate to publish notice to creditors, or can it be done outside probate effectively?
If you want power to do anything with the estate, you need to get formal or informal powers from the court. If you want to let the estate sit and see who comes looking for their payments, they can handle the liquidation and collecting their money.
There may be an option in your county to petition to become a Notice Agent, then publish notice without starting a proceeding. This starts the time for unknown creditors to be cut off from claims. Known creditors need to be contacted directly, then they can be cut off as well.
If no one starts a probate, and notice is given, and creditors are cut off, there is a chance the estate will pass the point of all creditor's claims and there will be something for inheritance. And for this reason, you definitely want to talk with an attorney experienced in Probate.
I hope this helps get you started.
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