Send Via Text Massage Legal Colorado Small Estates Forms For Free

In Colorado, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).

A common way to avoid probate is to create a trust, but the validity of trusts can be challenged in court. Also, trustees are subject to the same standards as personal representatives, and their actions can also be reviewed by a court.

The Colorado small estate affidavit is a two-page form with fields to be filled by the Affiant(-s) and the Notary. The form is entitled ?Collection Of Personal Property By Affidavit Pursuant To § 15-12-1201, C.R.S.? In juridical circles, it's also known as form JDF 999, as stated at the bottom of the pages.

Whether or not you have a will when you die, if you have $50,000 or less in personal property (includes bank accounts and cash) and no real property, your devisees or heirs may collect your assets by using an affidavit and not have to open a probate action through the court.

One of the most common ways to avoid probate is to create a living trust. Through a living trust, the person writing the trust (grantor) must "fund the trust" by putting the assets they choose into it. The grantor retains control over the trust's property until their death or incapacitation.

The court may require that the personal representative get its approval for every transaction or may allow the personal representative to administer the estate unsupervised. 2. Will my estate have to go through probate? All wills and intestate estates must be probated.