That’s because the owner of assets must do the steps that need to be done to avoid probate before they pass away. In short, the most effective steps to preventing probate are ensuring that all of your assets are set up to pass directly to a designated individual or a Trust upon your death.
There are different approaches 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, additionally, if you have questions or concerns about Colorado Probate, it would benefit you to speak with a Denver Probate Lawyer. To speak with one, call Baker Law Group today.