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If you have concerns about how your heirs or beneficiaries will handle the assets you're leaving them, a trust offers you significantly more control than a will does. A will dictates what assets will be distributed, and to whom, but has very limited ability to set conditions on how and when distributions will be made.
A living trust is a handy arrow in the estate planner's quiver. The state uses the Uniform Probate Code, though, so unless your estate is particularly large or complex, it may not be needed in Colorado.
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.
A Colorado living trust, also called an inter vivos trust, allows the trustmaker to transfer ownership of personal assets into a trust during his life. The trustmaker continues to use the assets during his life (living in the home, driving the car, and spending the money).
To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.
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A Colorado living trust, also called an inter vivos trust, allows the trustmaker to transfer ownership of personal assets into a trust during his life. The trustmaker continues to use the assets during his life (living in the home, driving the car, and spending the money).
A trust avoids probate; a will does not. Colorado state law requires that your will be filed within ten days of your death in the Colorado County in which you resided. No such requirement exists for trusts.
The state uses the Uniform Probate Code, though, so unless your estate is particularly large or complex, it may not be needed in Colorado. You can make a living trust by yourself, but if you want to use one it may make sense to find an attorney to help you do it right.
You can create a living trust document by yourself with the help of an online program. This option will likely run you a few hundred dollars. You can also use an attorney, which will cost, possibly more than $1,000.
Living Trusts In Colorado, you can make a living trust to avoid probate for virtually any asset you own\u2014real 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).

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