This article explains how to use Colorado’s small estate affidavit process to distribute a decedent’s personal property to heirs without formal probate. It is for informational purposes only and does not constitute legal advice.
Detailed Answer
Overview of Colorado’s Small Estate Affidavit
Colorado Revised Statutes (C.R.S.) §§ 15-12-1201 through 15-12-1211 set out a streamlined procedure for transferring small estates. Under C.R.S. § 15-12-1202 (link), you may use a small estate affidavit if:
- The decedent’s personal property in Colorado does not exceed the statutory threshold ($70,000 as of 2023).
- No formal probate administration has begun.
- At least 28 days have passed since the decedent’s death.
Eligibility Requirements
To qualify, you must confirm all personal assets (bank accounts, vehicles, household goods) total no more than the statutory limit. Real property (land or homes) cannot transfer via this affidavit. You also must wait 28 days after the death date before filing.
Step-by-Step Filing Process
- Inventory Assets. List and value each item of personal property. Include account summaries or appraisals.
- Prepare the Affidavit. Use the language required by C.R.S. § 15-12-1202. The affidavit must state you are entitled to assets as heir or devisee, list all interested parties, and confirm no probate is pending.
- File with Court. Submit the affidavit in the district court of the decedent’s county of residence. The filing fee typically runs $25–$30.
- Notify Interested Parties. Serve a copy by mail on all heirs, devisees, and known creditors within 10 days of filing, per C.R.S. § 15-12-1203 (link).
- Wait for Objections. Creditors have 42 days after filing to object. If no objection arises, you may proceed.
- Collect Assets. Present the filed affidavit and a certified copy of the death certificate to banks or other holders. They must release the property upon proof of entitlement.
Distributing Assets to Heirs
If the decedent left a valid will, distribute personal property according to its terms. In the absence of a will, Colorado’s intestacy statutes apply. Often the surviving spouse inherits first; then children share equally, per C.R.S. § 15-11-102 (link).
Helpful Hints
- Double-check asset valuations against bank statements and appraisals.
- Obtain certified copies of the death certificate before filing.
- Keep detailed records of service on heirs and creditors.
- Confirm courthouse hours and filing fees before you go.
- Consider consulting a probate attorney if questions arise or if the estate nears the threshold.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a licensed attorney in Colorado for guidance specific to your circumstances.