If a person in Colorado dies without having a will or trust in place, this is known as dying "intestate." When this happens, the Colorado Probate Code will dictate who will inherit the deceased's assets. This is done through the probate process.
Many people may have heard of the term "probate" and may not have a very favorable view of it. However, probate need not be a lengthy, complex and frustrating process. Attorneys are available to help people in such situations. For example, the legal team at Schroer & Williams Law Offices PLLC, aim to make the probate process as efficient and pain-free as possible.
Keep in mind that even in the absence of a will or trust, not every estate needs to be probated. If the deceased's estate is worth less than $64,000 and no real estate is involved, then the deceased's survivors will only need to execute an affidavit, and the estate need not be formally probated. However, if the estate is worth over $64,000 or real estate is involved, the estate will need to be formally probated. This means that certain notices must be given, and documents will need to be filed with the court.
Probate is a procedural process that most people do not have much experience with. Fortunately, with the right attorney it is possible to understand what must be completed throughout the probate process. And, should disagreements between heirs arise, an attorney can represent their client's interests so that the dispute is resolved in an appropriate manner. Our firm's webpage may be a good resource for those who have questions about probate in Colorado.