Bradford Publishing Blog | Colorado Law Articles & Topics

In many marriages, one spouse takes primary responsibility for financial decisions. It is also quite common for one spouse to take care of some financial matters and for the other spouse to take care of different ones.

If you, now a surviving spouse, were not ever interested in finances during the marriage or were not the spouse who made many financial decisions, you may feel lost without your spouse’s guidance. In all honesty, you still may not be interested in learning very much about finances; although some surviving spouses do develop an interest and desire to learn once they realize how important finances are to their future quality of life. Even if you are the spouse who made the financial decisions, you may not be in a good emotional state to make wise decisions, at least for a while. A financial advisor can help. He or she can manage everything for you, teach you or just help out until you’re ready to take over again.

Before hiring financial expertise, it is always a good idea to interview several different financial advisors and learn as much about them and how they work as you can. If friends are recommending advisors, ask them in-depth questions about how they met the advisor, how long they have been working with him or her, the kind of services provided, and the actual results the advisor has achieved for them. No ethical financial advisor will guarantee you any particular return on your money. If someone is making promises that sound too good to be true, they probably are.

No matter what kind of advisor you ultimately choose, you should be given written information from the individual or institution on the following topics:

•    The scope of services offered.

•    The minimum account size the advisor will work with.

•    Exactly how the advisor is compensated for services (flat fees, hourly fees, percentage of assets under management, commissions from sales of financial products), and what services are covered by the fee.

•    Whether the fees are negotiable (they often are).

•    How financial decisions will be made: whether the advisor (1) will have full discretion, (2) will need to consult with you on every decision, or (3) will have authority over some decisions but not others.

•    How the advisor will communicate with you (financial statements, periodic meetings, phone calls at will, etc.).

•    The educational and professional credentials the advisor has earned, and how much experience the advisor has earned.

•    The flexibility of the planning. Be aware of how “locked up” your assets will be in case you need cash quickly at some time in the future.

•    Who will have custody of your account and who will have access to the assets (this is important for protection against financial fraud).

For a complete list and more information regarding finding a financial advisor, check out “Life After Death: A Legal and Practical Guide for Surviving Spouses”, by Marilyn W. McWilliams

Probate is the court-supervised process of transferring the assets of someone who has died to those persons who are entitled to the assets next. Intimidating? Yes, it can be. But, often it is just a matter of following some standard procedures and filing certain required forms.  There are three ways to probate an estate in Colorado.  The value and circumstances of the estate determine which procedure is required. 

1.    Small Estates. Regardless of whether there is, or is not a will, if the value of all property—after any encumbrances and liens are deducted—is less than $60,000 and there is no real estate in the name of the deceased, an estate may qualify as a small estate. If an estate qualifies as a small estate, no probate is required, and the property can be transferred by way of “Collection of Personal Property by Affidavit.” This procedure requires an heir to swear that he or she is entitled to some or all of the property and will distribute any other property to the entitled heirs or creditors. Continue reading “3 Ways to Probate an Estate in Colorado” »

In most cases, after death, the surviving spouse becomes responsible for administering the deceased’s estate.  As a result, you may wonder if you need a lawyer’s help.

Usually you will benefit from at least a one-session consultation with an experienced estate attorney.

You probably don’t need much legal assistance if your spouse has few assets with little financial value and they are owned in joint tenancy with you. Or, you are the named beneficiary and your spouse has little or no debt or your spouse does not leave minor children or have adult children from another marriage.

On the other hand, if you have any complications, good attorneys can spot certain issues – of which few people are aware – that can make a big difference in your life and future.  An attorney can also, potentially, save you and your family a lot of money. Here are some ways an attorney can help: Continue reading “Do You Need an Attorney? Understanding Legal Issues After Your Spouse Dies” »

Our culture does not encourage speaking of death, and you may now find yourself in a situation where you don’t know what to do, when to do it, or how to carry it out. While planning a funeral is like planning any other large ceremony or religious event, it is clouded with strong emotions and, sometimes, shock. If you feel too overwhelmed, ask for help from your children, friends and clergy.  Here are some general thoughts on the reason for funerals and the elements of them.

Why hold a funeral? Continue reading “Funeral Planning: When to Hold a Memorial or Funeral” »

If your business-owner spouse died, you—as the surviving spouse—may suddenly face a raft of decisions. The most important is: sell the business or carry on as the new owner?

If the business is a partnership, and the partners have a buy-sell agreement in place, your decisions are simpler. Without such an agreement, you’ll likely need expert help to sort through the related issues. 

This discussion applies to Colorado sole proprietorships, corporations, LLCs, or partnerships. Note that business succession issues gives rise to more conflict and problems than almost any estate-related issue, so beware.

Step one: Understand exactly what your spouse owned
The first step is determining exactly what your spouse owned. What kind of legal entity was the business, and how much of it did your spouse own? 

Step two: Find the buy-sell agreement Continue reading “What to Do When A Business-Owner Dies—Lessons for the Surviving Spouse” »

When your spouse dies, it is crucial that you establish your rights as the surviving spouse.  If you are “statutorily married,” in other words, with a ceremony and a government-issued license, you should have no problem.

But because Colorado recognizes common law marriage, some cohabitating couples believe they can easily prove they are married, if needed, should one partner die.

Unfortunately, many people use the principle of common law marriage as a cover for living together without any intention of being truly married. Also, Colorado courts are filled with people who allege they are the common law spouse of a deceased person, only to get a portion of the deceased person’s property.

The bottom line is that without a written record, witnesses or a ceremony, it can be difficult to prove common law marriage posthumously in court – and therefore become eligible for surviving spouse benefits. 

What is common law marriage? Continue reading “Be Sure You’re a “Surviving Spouse” – Not a Live-In Partner” »

Part of “cleaning up” your loved one’s affairs means addressing his or her online life: social media and email channels.

There are a number of reasons to attend to this online world. First, email account access may be needed to stop online bill pay and subscriptions.  Second, you might want to shut down those accounts so that people trying to contact your loved one aren’t misled into thinking he or she is still alive. 

Finally, using Facebook, you can let the world know of the death and memorialize your loved one’s page.  This helps family and friends stay in touch with each other and keep the memories alive.

Here is a list of services to explore, with related links to online policies.

1.    Google gmail:  With Gmail linked to a wide variety of Google applications such as online calendars, Google documents and others, it’s possible that your loved one opened an account and used it even if it wasn’t his or her primary email.

To access his or her account(s), follow Google’s policies.

2.    Microsoft Hotmail: Microsoft has a “next of kin” process that allows you to read your deceased loved one’s emails (everything ending in @msn.com, @hotmail.com, @live.com, and @windowslive.com) and shut down the service.   You will need a death certificate and personal identification.

Start by emailing: msrecord@microsoft.com. Read more about MSN’s next of kin process.

3.    Yahoo: Yahoo’s terms of service state that email contents cannot be transferred (i.e. read or looked at), even in the event of a death. However, you can close the account. Read more. 

4.    Local internet service providers: Contact your local ISP for individual processes and policies.

5.    Facebook: You can fill out the same form to both inform Facebook of an account owner’s death and to memorialize the account. Also: learn the difference  between deleting, deactivating and memorializing an account.

6.    LinkedIn: To close an account, this professional networking site asks you to verify the death and then submit a form.

For more information, see Life After Death – A Legal and Practical Guide for Surviving Spouses by Marilyn W. McWilliams, J.D.

Dealing with credit card applications, fundraising letters and junk mail in your loved one’s name can be stressful.  You may want open every letter – both to honor your spouse and deal with outstanding bills. But over time, the mail piles up and it seems like an insult your new reality.

Based on years of experience in estate law, here are my top 5 tips for managing the mail:

1.    Inform all friends and family, both in town and distant, of the death. This can be in the form of a simple note – or a telephone call or email. This is a simple courtesy so they don’t risk hurting your feelings. Once so informed, they will no longer be sending holiday cards and other correspondence to your spouse.

2.    Register on the Direct Marketing Association’s “Deceased Do Not Contact” list. This is an online application. Although it can take up to three months to go into effect, all direct marketers who are DMA members are required to abide by this list.

3.    Send a form letter for all official correspondence, letting the officials about the death – and that you will be receiving all official correspondence from this point forward. Continue reading “Managing the Mail When Your Loved One Dies” »

If your spouse or loved one dies, you are likely preoccupied with planning the funeral and notifying friends and family. One task to take care of within the first month is obtaining 10 to 12 state-certified copies of the death certificate.

You will need certified copies of the death certificate to:
•    access your loved one’s bank accounts;
•    file for benefits with the Social Security Administration, the VA and private employers;
•    change title to real estate, vehicles and all investment/savings accounts; and
•    close your deceased spouse’s credit cards.

Your mortuary or funeral home can help you get this death certificate, and it’s often cheaper to buy a large number at once.

What information to provide

To obtain a death certificate, you will need:
•    Your spouse’s full name and age at death;
•    Place, date and time of death;
•    State of your spouse’s birth;
•    Reason for request;
•    A photocopy of your driver’s license, state ID or passport; and
•    Credit card information for payment.

Get a free death certificate?

You may wonder if you can get a death certificate for free. Not usually.  In Colorado, certified death records obtained from the Vital Records Department of the Colorado Department of Public Health and Environment cost $17 for the first copy and $10 for each subsequent one. (These costs are increasing August 1st, 2012).

States charge citizens for this service in order to cover the cost of maintaining the database. Beware, if you find a free online death certificate, it won’t have the necessary state certification and won’t be considered valid with banks and other financial institutions.

For more information, see Life After Death – A legal and Practical Guide for Surviving Spouses by Marilyn W. McWilliams, J.D.

Rugged independence may be a virtue in some circumstances, but a major loss can be physically and emotionally debilitating. Friends and family are looking for ways to help. Don’t be afraid to accept it.   

Start by sharing this list of activities with family and friends who ask, ‘what can I do?’

A supportive friend or family member can:

1.    Contact your deceased loved one’s employer and ask about benefit information.

2.    Come with you to make funeral or burial arrangements.

3.    Plan a reception after the service.

4.    Prepare and deliver meals to your home.

5.    Coordinate a calendar so friends can bring a meal every night.

6.    Help pick up out-of-town relatives from the airport and make hotel reservations for them.

7.    Take young children to school and to after-school activities.

8.    Take care of pets.

9.    Take turns staying at your house, so you are not alone.

10.    Help collect financial information.

11.    Help locate an attorney.

12.    Help clean out the office or closet of the deceased person.

Your friends genuinely want to help you at this time in your life, and most people are happy to do anything you ask of them. It might be easier for someone else to suggest the things that you need – so feel free to let one of your helpers act as a volunteer coordinator.

For more information, see Life After Death – a Legal and Practical Guide for Surviving Spouses  by Marilyn W. McWilliams, J.D.