Probate is a fairly common legal procedure and much simpler than many think. It is the legal process through which assets are passed from a deceased person to their heirs and beneficiaries.
Probate is not always needed when a person passes away. It depends on various factors, including the type of property owned by the decedent and the state laws where the decedent resided.
It is generally understood that if a person has died and left behind a will, probate will be required to carry out the provisions of that will. This is generally true and is known as a testate estate. In some cases, the will might be contested, not very clearly written, or even invalid. In these cases, a court must be much more included in the probate process.
However, probate is also needed if a person has died and has not left behind a will. This is known as a testate estate. When a person who owns property dies without a will, a probate process is carried out to ensure that the property is distributed correctly according to the state's inheritance law.
There is also the instance of a small estate probate. This is a simplified probate process for estates or properties that are not very high in value. In Colorado, properties and estates valued under $68,000 are considered small estates. A small estate probate process is implemented if a person owning less than $68,000 worth of property dies with or without a will.
Some assets are automatically transferred to a decedent's heirs or beneficiaries without the need for probate. Some examples of such assets include:
If you have any other questions relating to probates that we haven’t answered or if you are in search of a probate attorney, get in touch with Evans Case.
Evans Case is a full-service Denver estate planning law firm with over 110 years of experience. To get you started, we can offer you a no-cost, no-obligation initial consultation with our experienced probate attorneys.
Call us at (303) 722 8000 or contact us on our website for a free 30-minute consultation.
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