Add Tables To Legal Colorado Pour Over Will Forms For Free

Having a will does not avoid probate in Colorado. A will merely outlines how you wish to distribute your assets; it does not eliminate the probate process. By using our platform and adding tables to legal Colorado pour over will forms, you can simplify the transfer process, but your will still requires probate to validate your instructions.

A common way to avoid probate is to create a trust, but the validity of trusts can be challenged in court. Also, trustees are subject to the same standards as personal representatives, and their actions can also be reviewed by a court.

Assets that are owned in joint tenancy, such as real property or a bank account, or assets that have a beneficiary designation like a life insurance policy or IRA, pass to the beneficiaries by operation of a contract, and are not subject to the provisions in the will or the probate process.

The main downside to pour-over wills is that (like all wills), the property that passes through them must go through probate. That means that any property headed toward a living trust may get hung up in probate before it can be distributed by the trust.

Steps to Create a Will in Colorado Decide what property to include in your will. Decide who will inherit your property. Choose an executor to handle your estate. Choose a guardian for your children. Choose someone to manage children's property. Make your will. Sign your will in front of witnesses.

First and foremost, there are a number of asset types that typically do not pass through probate. This includes life insurance policies, bank accounts, and investment or retirement accounts that require you to name a beneficiary.

A testator must be 18 years or older and of sound mind. A testator must generally know: ? what his assets are, ? who his family members are, ? how his will affects who will inherit from him, and ? his will must represent his wishes.

In order for a will to be considered valid in the state of Colorado, the testator must be at least 18 years old, have it signed by at least two witnesses (either before or after the testator's death), and have it either typed or handwritten. The state does not recognize oral (or "noncupative") wills.

*Note: Colorado law requires that a decedent's will be filed (lodged) with the District Court in which the decedent was domiciled within ten days of the decedent's passing, even if no probate administration is expected.