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To give legal effect to a last will and testament for a Colorado resident, the will must be filed with a Colorado probate court. After a will has been filed with a probate court, it becomes a public record, accessible by any member of the public.
Heres an example: I give to my son, Alan John Smith, one-third of my estate. If Alan John Smith does not survive me, this inheritance should be distributed to Alan John Smiths descendants, per stirpes.
Types Of Property You Cant Include In A Will Any property that is held in joint tenancy (owned equally by two parties), such as a house that you own equally with your spouse, since the property will automatically transfer to the surviving owner.
With a pour-over will, any assets not included in your trust are automatically transferred to your trust after you pass away. Think of it as a kind of safety net, capturing any property you didnt transfer to your trust while you were alive.
You can make your own will in Colorado, using Nolos Quicken WillMaker Trust. However, you may want to consult a lawyer in some situations. For example, if you think that your will might be contested or if you want to disinherit your spouse, you should talk with an attorney.
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A pour-over will only goes through probate if you have failed to attach all your assets to your living trust. The probate process with a pour-over will is much shorter than probate with a traditional will.
A will only takes affect after the testator dies. Conversely, a trust becomes valid as soon as it is duly executed and assets are added. So unlike a will, a grantor can also act as the trustee and manage their assets while their still alive. A grantor can then appoint a trustee to manage the trust after they die.
Yes, you can avoid probate in Colorado by making a living trust, which will prevent any asset you own from going to probate courts, including bank accounts, real estate, and more. You can do so by creating a trust document that names a specific individual to serve as a successor trustee following your death.
This may include real property, personal property, stocks, bondsanything that you own that is in your name will be controlled by that will, absent other estate planning that youve done. A last will and testamentcommonly shortened to just willis a legal document that expresses your last wishes.
All wills and intestate estates must be probated, but the degrees of court involvement and complexity range from simple and inexpensive to complicated and costly.In Colorado there are three types of probates.

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