How Does Probate Work in Colorado?

Introduction

Probate is the legal process of settling an estate after someone passes away. In Colorado, probate ensures that debts are paid, and assets are distributed to heirs according to the deceased person’s will—or state law if there is no will. If you’re facing probate in Colorado, understanding the process can help you navigate it smoothly and avoid costly delays.

When Is Probate Required in Colorado?

Not all estates in Colorado must go through probate. Probate is required in the following situations:

• The deceased person owned assets solely in their name (not jointly held or with named beneficiaries).

• The total estate value exceeds $82,000 (as of 2024) or contains real estate.

• The deceased did not leave a will, meaning the estate must go through intestate succession.

Some assets avoid probate if they are:

• Held in a revocable living trust.

• Owned jointly with rights of survivorship.

• Have named beneficiaries, such as retirement accounts and life insurance policies.

Steps in the Colorado Probate Process

Probate in Colorado follows a structured legal process, which can vary depending on whether it is informal, formal, or supervised probate. Here are the typical steps:

1. Filing with the Probate Court

   • The first step is to file the necessary paperwork with the district court in the county where the deceased resided.

   • A personal representative (executor) is appointed to oversee the estate.

2. Notification to Creditors and Heirs

   • The personal representative must notify all beneficiaries and potential heirs.

   • Creditors have up to four months to submit claims against the estate.

3. Inventory and Appraisal of Estate Assets

   • The personal representative compiles a list of assets, including real estate, bank accounts, and personal property.

   • Some assets may require a professional appraisal.

4. Settling Debts and Taxes

   • The estate must pay outstanding debts, taxes, and administrative expenses before distributing assets to heirs.

5. Distributing the Remaining Estate to Heirs

   • Once debts are settled, assets are distributed according to the will.

   • If there is no will, assets are distributed based on Colorado’s intestacy laws.

6. Closing the Estate

   • The personal representative files a final accounting with the court and requests to close the estate.

How Long Does Probate Take in Colorado?

• Informal Probate (for simple estates): 6-12 months.

• Formal Probate (court-supervised): 12-18 months or longer.

• Contested Estates (disputes over wills or assets): Can take years.

How to Avoid Probate in Colorado

If you want to simplify estate administration for your heirs, consider these strategies:

• Create a Living Trust – Assets in a trust bypass probate.

• Use Joint Ownership – Property held jointly passes automatically to the co-owner.

• Name Beneficiaries – Designate beneficiaries on retirement accounts, life insurance, and payable-on-death bank accounts.

Get Help with the Probate Process

Probate can be complicated, especially if disputes arise or assets are difficult to locate. A Colorado probate attorney can guide you through the process, ensuring that the estate is handled correctly and efficiently.

If you need assistance with probate, contact The Law Office of Nicholas Engle today for a consultation.