What documents are in a Colorado estate plan?

Usually a will — signed and either witnessed by two people or acknowledged before a notary (C.R.S. §15-11-502) — often a revocable trust, a medical durable power of attorney naming a health care agent (§15-14-506) and a declaration as to medical treatment (§15-18-104). Beneficiary designations, beneficiary deeds (§15-15-402) and the way property is titled complete the picture.

Does Colorado have an estate tax?

No Colorado estate tax is due for current deaths; the federal estate tax applies on its own terms. A trust that has income may still file a Colorado fiduciary income tax return (Form DR 0105).

Can I disinherit my spouse in Colorado?

Not by will or revocable trust alone. A surviving spouse may elect an amount equal to fifty percent of the value of the marital-property portion of the augmented estate, which reaches property the decedent could revoke, a revocable trust included (C.R.S. §15-11-202), unless the right was validly waived. How that applies to a plan is a question for a licensed Colorado attorney.

Colorado Estate Planning: Wills, Trusts, Probate, Protection

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The building blocks of a Colorado estate plan

A Colorado will

A will directs who receives your property and names a personal representative, but it generally must pass through Colorado probate to take effect. It can also name guardians for minor children.

A revocable living Trust

A revocable living Trust holds your assets during life and passes them to your beneficiaries at death — generally outside probate — while you keep full control and can change it anytime. It is an administration and probate-avoidance tool, not asset protection.

Probate

Probate is the court process that settles a decedent's estate — proving the will, paying creditors, and distributing what remains. Colorado offers informal proceedings through the court's registrar (C.R.S. §15-12-301), formal proceedings before the court (§15-12-401) and a small-estate affidavit (§15-12-1201), and many plans aim to reduce or avoid probate.

Asset protection

Colorado protects some property by statute — a home up to $250,000 of equity, or $350,000 for an elderly or disabled owner, spouse or dependent who lives there (C.R.S. §38-41-201), and certain life insurance and retirement accounts (§13-54-102) — but each depends on facts, timing and titling, and a revocable Trust does not by itself shield assets from creditors. This is an area to review with a Colorado attorney.

Powers of attorney & advance directives

A complete plan usually also includes a durable power of attorney (C.R.S. §15-14-704), a medical durable power of attorney (§15-14-506) and a declaration as to medical treatment — a living will (§15-18-104) — so someone you trust can act for you if you cannot.

Which plan is right in Colorado?

There is no single best plan for everyone — the right mix of will, Trust, and directives depends on your assets, your family, and your goals. This page is general information, not legal advice. A free role check can show you where you stand, and a Colorado attorney can recommend what fits your situation.

General information about Colorado law, not legal advice.

Frequently asked questions

What documents are in a Colorado estate plan?: Usually a will — signed and either witnessed by two people or acknowledged before a notary (C.R.S. §15-11-502) — often a revocable trust, a medical durable power of attorney naming a health care agent (§15-14-506) and a declaration as to medical treatment (§15-18-104). Beneficiary designations, beneficiary deeds (§15-15-402) and the way property is titled complete the picture.
Does Colorado have an estate tax?: No Colorado estate tax is due for current deaths; the federal estate tax applies on its own terms. A trust that has income may still file a Colorado fiduciary income tax return (Form DR 0105).
Can I disinherit my spouse in Colorado?: Not by will or revocable trust alone. A surviving spouse may elect an amount equal to fifty percent of the value of the marital-property portion of the augmented estate, which reaches property the decedent could revoke, a revocable trust included (C.R.S. §15-11-202), unless the right was validly waived. How that applies to a plan is a question for a licensed Colorado attorney.