Understanding Colorado Probate Laws
As experienced probate lawyers in Denver, this is a question we are asked quite often. To begin with, the owner of assets must do the steps that must be taken to avoid probate before they pass away.
In short, the most effective steps to preventing probate are ensuring that all your assets are set up to pass directly to a specified individual or a Trust upon death.
There are various methods to accomplishing this, some of which include the following:
- Making sure every financial account and/or insurance policy has a current beneficiary or payable on death designation;
- Establishing a joint asset owner who will take over full ownership upon your death;
- Putting a beneficiary deed in place for real property; or
- Establishing a trust and either transferring ownership of assets to that trust before your death or creating a will dictating that all assets pass directly into your trust.
Each option has pros and cons, and we advise you to speak to a Denver Probate Lawyer at Baker Law Group to determine the best option for you.
