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Transfer of Property Without a Will
- According to the Colorado Probate Court's website, Colorado probate law dictates that without a will at the time of death your spouse will generally receive the majority of your estate. Your children as well as your parents may also receive a portion of your assets when you die. If you have no spouse but have children at the time of your death, your children must divide the remaining assets equally. In the event that no children and spouse exists at the time of death, the estate will pass to the next immediate family relative, such as an aunt or parent, until all options are exhausted. A person that dies with no will and no immediate family will have his assets turned over to the state of Colorado.
Transfer of Property With a Will
- A person with a will can generally distribute his assets to whomever he wishes. In Colorado, the spouse has the right to at least half of the estate, so the deceased would be unable to cut them out. A spouse accumulates rights to an estate in 5 percent increments for each year of marriage. Parents are also forbidden by Colorado probate law from disinheriting minor children. All other relatives, including adult children and immediate family--with the exception of the spouse--may be left out of the will.
Who May Prepare a Will
- In Colorado anyone over 18 who is not under duress or any other kind of influence can draw up a last will and testament. Individuals who have large estates with finances tied up in multiple locations tend to hire an attorney to effectively draw up a will because it avoids family fights over assets and makes the document more viable in court if it contested by relatives after your death.