Probating an Estate

Perhaps a loved one has died and named you personal representative. Or maybe a relative died without a will and either family members or the court decided you are best suited to sort through the deceased person’s finances and property. In either case, you are in charge of taking the estate through probate.

What is probate?

Probate is a legal process that ensures that your loved one’s bills are paid, and that any remaining money, real estate and keepsakes are given to the right people.

Formal or informal probate?

In Colorado, most estates go through informal probate. You, as personal representative, can file the forms with the court and carry out your duties without court hearings. Formal probate takes place when the court must approve all decisions about the estate.

How Bradford can help Probating an Estate

Bradford’s Colorado-specific probate forms and kits address every aspect of probating an estate, whether there was a will or not, from appointing a personal representative to notifying creditors, to conducting final accounting to closing the estate. With Bradford’s help, you can carry out your duties as personal representative easily and legally.

An estate will need to go through the probate process if the decedent owned any real estate in his or her name only or as a tenant in common. The estate will also need to be probated if all of the decedent’s probate estate is more than $60,000. In other words, if the fair market value of all of the probate property, subtracting any liens or encumbrances on that property, is more than $60,000, the estate must be probated.

If the value of all the property—after any encumbrances and liens are deducted—is less than $60,000 and there is no real estate in the name of the deceased, an estate may qualify as a small estate. To determine if this applies, read “Guide to Probate in Colorado ” by Karen Brady, Esq. to learn about probate property and debts.