ESTATE PLANNING & PROBATE FAQ
We know that estate planning and probate can raise a lot of questions, especially if this is your first time dealing with these issues. Below are answers to some of the questions we hear most often. If you don't see your question here, feel free to reach out directly.
Do I need a will if I don't have many assets?
Yes. A will isn't just about dividing up property, it also lets you name guardians for minor children and designate a personal representative to handle your affairs. Without a will, Colorado's intestacy laws determine who inherits, which may not match your wishes.
What's the difference between a will and a trust?
A will takes effect after death and generally must go through probate. A revocable living trust can take effect during your lifetime and, if properly funded, can allow assets to pass to beneficiaries without probate. Many estate plans include both.
How long does probate take in Colorado?
The timeline varies depending on the complexity of the estate, whether the will is contested, and how quickly debts and assets can be identified and resolved. Some estates are resolved within several months, while more complex or contested estates can take considerably longer.
Do all estates have to go through probate?
No. Some estates qualify for simplified procedures, such as a small estate affidavit, depending on the value and type of assets involved. Assets held in a trust, or those with named beneficiaries (such as retirement accounts or life insurance), may also avoid probate.
What should I do if I've been named a trustee or personal representative?
Reach out to an attorney early in the process. There are specific duties and deadlines involved, and getting guidance from the start can help you avoid mistakes and reduce personal liability.
How do I get started?
Schedule a consultation. We'll discuss your situation, answer your questions, and help you understand the options available to you.
Schedule a Consultation
Home • Attorneys • Support Staff • Representative Clients • Contact Us • Disclaimer
Beck, Payne, Frank & Piper, P.C., Suite 200, The Marketplace, 3025 S. Parker Road, Aurora, Colorado 80014
tel: 303-750-1567 • fax: 303-750-7530 • [email protected] • www.beckpayne.com
Beck, Payne, Frank & Piper, P.C., Suite 200, The Marketplace, 3025 S. Parker Road, Aurora, Colorado 80014
tel: 303-750-1567 • fax: 303-750-7530 • [email protected] • www.beckpayne.com