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What are the three types of probate in Colorado?

In Colorado there are three types of probates for both wills and intestate estatesone for small estates (under $50,000 and no real property), one for uncontested estates (informal), and one for contested estates and invalid or questionable wills (formal).

How does probate work without a will in Colorado?

A person who dies without a will has died intestate. Colora- do has intestacy laws that designate how a decedents pro- bate assets pass upon her death if she died intestate. Colo- rado law assumes that a decedent would want her probate assets to pass first to her surviving spouse and children.

How do you avoid probate in Colorado?

A Living Trust A will distributes your assets upon your death. But, a living trust places your property into a trust that is managed in a way that best benefits your heirs. Because your assets are already distributed, your estate avoids the probate process.

How long does it take to settle an estate in Colorado?

Mention estate planning to anyone and most likely they will associate it with avoiding probate. 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.

Does a surviving spouse have to go through probate in Colorado?

However, probate is usually unnecessary if the deceased person holds all their property jointly with their spouse. In this case, no probate proceeding will be necessary as the property can be transferred into the sole name of the surviving spouse, without the need to go through the probate process.

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How long does probate take in Colorado without a will?

The court may require that the personal representative get approval for every transaction or may allow the personal representative to administer the estate unsupervised. Both informal and formal probates must be open with the court for at least six months, but full administration of the estate may take much longer.

How is property transferred after death without a will in Colorado?

In Colorado, if you die without a will, your assets are distributed to your closest relatives under the Colorado interstate succession laws. In various states, the interstate succession process occurs when someone without a valid will or other legal declaration passes away.

How long do you have to file probate after death in Colorado?

Generally, in Colorado, you have up to three years to file probate after death, but its best to start sooner. After this time, you may only file probate under very limited circumstances.

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