Get CO JDF 967 2008

Probate in Colorado. ... 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.

All wills and intestate estates must be probated. The probate process has been greatly simplified by the Uniform Probate Code, and more than 90% of probates in Colorado are not court supervised.

Have a will. If you die with a will (this is called dying testate ), probate is simple, as long as no one contests your will. ... Establish a living trust. A living trust is designed so that your assets could be legally controlled by another individual. ... Arrange for joint property ownership.

Probate in Colorado. ... 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.

3 Myths About Probate in Colorado. ... Small Estates: If an estate (those with and without wills) is worth $64,000 or less and owns no real property, then the heirs may collect assets by signing a Small Estate affidavit, allowing them to avoid probate court all together.

When a Colorado resident dies without a last will and testament, the intestacy succession laws found in the state's probate code take over. They dictate who inherits the deceased's probate estate.

Probate is the legal process of 'settling' the estate of a deceased person, and it can take months, even years, for more complex estates. In Colorado, the average estate spends 9-24 months in probate.

In Colorado, the probate process takes an average of 9-24 months, so you need to be patient. During the process you must be loyal to your loved one's memory, able to settle any family bickering, and oversee all paperwork and activities to settle the estate promptly.

Colorado law requires that both informal and formal probate cases be open for a minimum of six months after the probate is opened.

Wills do not have to go through probate unless you want to transfer ownership of assets owned by the testator, or the person who wrote the will, to her living beneficiaries. ... Generally, probate is required for large, complex estates with multiple assets to settle the testator's affairs in an orderly, legal way.

Some people don't want to probate a will. There is no requirement that a will or property go through probate, but if the decedent owned property that is not arranged specifically to avoid probate (see below), there is no way for the beneficiaries to obtain legal ownership without it.

If you do not obtain Probate when someone dies, and Probate is needed on the Estate, then the beneficiaries will not be able to receive their inheritance. Instead the assets will be frozen, and will be held in a state of limbo, as no one will have the legal authority to access or transfer the assets.

Not every estate, however, needs to go through the probate process. Probate is required only when there is no other mechanism by which to transfer the asset to the heirs or devisees of the estate. ... Assets owned jointly with rights of survivorship are designed to avoid the probate court process.

Colorado Personal Representative Deed of Sale. In Colorado, the person approved or appointed by the probate court to administer a decedent's estate is called a personal representative. The personal representative has a fiduciary duty to settle the decedent's estate.

A personal representative deed is a deed granted by a personal representative acting on behalf of an estate that actually owns the property.