Probate is the court process that happens when someone has passed away. Each state has different requirements, so it’s important to consider the laws for probate in Colorado.
Understanding Probate in Colorado
In Colorado, your estate gets pulled into probate if you own any real property (house, land, or mineral interests), or if you have more than $70,000 in total assets. The probate has to be open for at least six months and can cost up to $15,000.
Most estates meet those requirements to be pulled into probate and instead of that money going to your loved ones, it goes to pay for court costs and attorney fees.
Proper Estate Planning Can Help Avoid Probate
However, creating the proper Estate Plan can help your estate avoid the probate process altogether! Call and schedule your free initial consultation to discuss how your estate can avoid probate and ensure your hard-earned money goes to your loved ones.