Colorado Probate: Everything You Need to Know

What Is Probate in Colorado?

Probate in Colorado is a court-supervised process that ensures that a deceased person’s (decedent’s) assets are distributed to the right people. It involves the appointment of a personal representative to administer the decedent’s estate and pay off their outstanding debts before distributing the assets left to those entitled.

The process can be complex and is compulsory (most of the time). Yet few people think about or are even aware of the process until they lose a loved one. During those moments of grief, it is often a shock for such people to discover that the estate of their loved one is subject to many legal restrictions and that they may be unable to assess or utilize their assets without completing the probate process.

If you’re in such a situation, you may need a Probate Lawyer in Centennial, CO, to represent you and navigate the probate process on your behalf. In the meantime, this guide explains how the process works so you have an idea of what to expect during the process. 

You’ll also find this guide useful if you’re seeking ways to spare your loved ones the hassle of going through probate while planning your estate. Please read on to learn more.

An Overview of the Colorado Probate Process

Upon a person’s death, their family members or the executor of their will would need to approach the court and request to begin the probate process and appoint a personal representative by filing the appropriate probate forms.

This process is known as opening a probate estate. The opening procedure may be informal or formal, depending on the circumstances, as shown below.

The Formal Probate Process

The formal probate opening process is used to resolve complex probate cases where there are disputes that border on issues such as:

• The authenticity of a will
• A beneficiary’s right to inherit
• The appointment of a personal representative.

Before a probate estate can be opened formally, all heirs and beneficiaries must be notified about the probate opening forms and documents filed in court and be given sufficient opportunity to respond. If you’ve received such a notice, you might want to contact a probate attorney immediately. They can review the notice and any documents you might have received and help you determine how to respond. 

Any party who has been so notified can file an objection if they are opposed to the opening or appointment of the personal representative.

The formal probate process could be long and drawn out, leaving a once-happy family splintered. Yet it is almost inevitable, especially if the decedent has a lot of beneficiaries or if there are conflicting interests among their loved ones (such as with a blended family). 

It is the duty of anyone from such a family to take proactive steps while they are alive to ensure that assets that they worked hard to acquire do not cause undue discord among their loved ones. 

The Informal Probate Process

This probate opening approach is typically used in non-contentious estate cases where probate litigation is not expected.

All that is needed here is the filing of the necessary probate forms and documents with the probate court that covers the county where the decedent lived before they died. Once the court clerk confirms that the documents are complete, they will issue an order opening the estate and appoint a personal representative. 

No hearing is required here, which makes the informal probate procedure less expensive and time-consuming than the formal probate.

What Happens After the Probate Estate Is Opened? 

Once the probate estate is opened, the personal representative will commence administration of the estate. Administering the estate includes many activities, including the following:

• Taking inventory of the decedent’s probate assets and securing them
• Notifying the decedent’s creditors (if any)
• Paying and filing federal and state estate tax returns
• Paying off the decedent’s debts, if any, and distributing the remaining assets to the final beneficiaries.

What Is the Small Estate Probate Process in Colorado?

When a person’s probate assets are minimal, and they do not own any real estate, their assets can be distributed without opening a probate estate in court. All that beneficiaries of such small estates need to do is swear to a small estate affidavit describing the property and its value and showing that they have been entitled to it since the owner’s death.

After signing and notarizing the affidavit, the beneficiary can present it to anyone who has custody of the decedent’s funds or assets, such as a bank where the deceased had an account, along with the death certificate. The person who holds the funds will transfer them to the beneficiaries after that.

This procedure allows a person’s beneficiaries to skip probate entirely. However, the value of the probate assets must be below a specific value ($80,000 for the estates of those who died in 2023) that changes each year.