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A small estate affidavit is a form one can complete to speed settlement of a small estate through probate. It eliminates the need for a spouse or family members to go through a formal probate process supervised by the courts in the distribution of a loved one's property to creditors and heirs.
In Colorado, a small estate is defined as an estate that is worth less than $70,000 (as of 2020) in personal property and that has no real property. With a small estate, devisees and heirs can collect assets after completing a small estate affidavit, instead of needing to begin a case with the probate court.
Does a Will Have to Be Probated in Colorado? Yes, a will must be probated even if the estate doesn't need to go through probate. The court must still provide an affidavit saying that the heirs have a legal claim on the property, which cannot be done unless a will is available and entered into court.
The Colorado probate filing fees for both formal and informal probate is $199.00 according to the Filing Fees, Surcharges, and Costs PDF provided by the Colorado Judicial Branch. If supervised administration is required, a fee of $198.00 must be paid. If a claim is contested, there is a fee of $198.00.
It is a myth that probate in Colorado always takes years to finish. The length of time that estate administration takes in a probate case depends on many factors. For both informal and formal probate, the minimum time for the process to be completed is six months.
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Generally, a small estate is one that contains no property and only a small amount of money. Property is usually the most valuable asset in an estate, so not owning property significantly reduces the size of the estate.
People then fill out a form without reading the statute and or understanding Texas intestacy law. They pay a $232 filing fee and expect approval.
Letters Testamentary are a formal document the Colorado probate courts provide to the personal representative of an estate, giving them the authority to act on the behalf of the estate/decedent.
Non-probate assets include assets that transfer at death based on a beneficiary designation. Common examples of beneficiary-designated assets include life insurance, retirement plans, and some bank or brokerage accounts that are designated \u201cpayable on death\u201d or \u201ctransfer on death.\u201d
The easiest way to avoid probate is to pull your assets into a trust before you pass. By setting up a trust your beneficiaries receive assets immediately after death without having to go to court for processing or approval. Another way to avoid probate is by assigning beneficiaries to all accounts before death.

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