Many people delay creating a will, thinking they are too young, too healthy, or do not have enough assets. But, in Colorado, dying without a will—known as dying intestate—can result in your estate being handled by state law, not your personal wishes. This can leave your loved ones navigating complex legal procedures, unexpected outcomes, and potential disputes during an already difficult time.
Colorado’s intestacy laws are designed to create a logical distribution plan for someone who dies without a Will. Here’s how Colorado typically distributes assets when there’s no Will:
While the laws of intestacy in Colorado generally follow what most people would want anyway, the intestacy laws do not account or provide for unmarried partners, close friends, stepchildren, charities, or special possessions.
Aside from legal complexities, dying intestate can cause emotional strain. Without clear guidance, families may:
In contrast, a simple will and/or a revocable living trust can cost far less to create and resolve most, if not all, of the problems your family will face when you pass.
Creating an estate plan in Colorado is an act of love. By doing so, you are planning for and protecting the people you care about most by ensuring they receive your estate and property that you and they have worked your whole lives to accumulate. Whether your estate is modest or complex, every Colorado adult should have at least a basic will estate plan in place.
If you live in Colorado and do not have at least a will estate plan in place, please call The Law Office of Kevin R. Hancock, LLC, to schedule free initial consultation. We are here to provide you and your family peace of mind.