Make a Colorado Last Will and Testament

Colorado State Last Will and Testament Laws

Definition of Will -  §15-10-201-59(59)

Laws - CRS Title 15 (Probate, Trusts, Fiduciaries)

Witnesses - According to §15-11-502, the Will must be signed by two (2) witnesses, or by a notary public or another individual authorized by law.

A Sample Colorado Last Will and Testament with Examples of Each Step

Step 1 - Using the template provided by FormSwift, enter your name and your identified gender.

Step 2 - Provide your city and county of residence.

Step 3 - State your marital status from one of the following choices:

• Single
• Married
• Divorced
• Widowed
• Separated

If your selection is not ‘single,’ state the name of your spouse.

Step 4 -If you have any children, pets, property, or life insurance, provide that information here.

Step 5 - Provide the names of your living children (if any), as well as whether they will be named as beneficiaries. In addition, name your pets, and provide information about any life insurance you have.

Step 6 - State the amount of money or the percentage of the property you’d like to leave for each child.

Step 7 - If you would like to set up a trust for someone who is mentally ill or physically disabled, specify that here. A trust can prevent any interference with their ability to receive Supplemental Security Income and Medicaid benefits for individuals with special needs.

Step 8 - Specify what age your children will be when they start receiving benefits from their trust, how much of the trust they will receive, and what age they will be when their benefits end.

Step 9 - If you know which funeral home you’d like your body taken to, provide that information here.

Step 10 -  If you would like specific food or a specific meal after your funeral or if there is a specific place you want the meal served, list it here. If you have other burial arrangements pre-made or something that you’d like honored, list it here.

Step 11 -  Name Your Executor - This is the person who will administer your will once you pass away. This individual can be either a trusted friend, an attorney, or a beneficiary in your Will. Provide the following information about your Executor:

• Executor name
• Relationship to you

Additionally, if you’d like to appoint an alternate Executor, or if there is a person that you do not want to act as your Executor, provide their names and relationship to you as well.

Step 12 - Appointing a Trustee - If your assets will be set up in a trust, you must appoint a person, known as a Trustee, to disperse your assets once you pass away. State who you’d like to act as your Trustee by providing their information:

• Name of your appointed Trustee
• Relationship to you

Additionally, if there is a person who you would not want to act as your Trustee, or if you’d like to appoint an Alternate Trustee, provide their name and relationship to you as well.

Step 13 - Digital Executor - A Digital Executor is someone charged with distributing your digital assets. Examples of digital assets include valuable photos, copyrights, trademarks, digital currency, etc. To appoint a Digital Executor, provide.

• Name of Digital Executioner
• Relationship to you

Step 14 - Guardian for Your Minor Children - If you have minor children and wish to appoint a guardian for them to care for them in the event you die while they are still minors, provide their information below (and provide information for an alternative guardian and a conservator):

• Name of Appointed Guardian
• Relationship to you
• Name of Alternate Guardian
• Relationship to you
• Name of Conservator
• Relationship to you

Step 15 - Additional Beneficiaries - If you’d like to add any additional beneficiaries to your Will, add the following information:

• Beneficiary’s name
• Beneficiary’s relationship to you
• Beneficiary’s inheritance amount/percentage

Step 16 - Disinheriting a Beneficiary - If you want to disinherit a spouse, a child, or another beneficiary, provide:

• Disinherited individual’s name
• Relationship to you

Step 17 - Witnesses - Have both of your witnesses provide their name, address, and contact information.

Remember that in order for this document to be legally recognized, it must be signed by all parties, including your two (2) witnesses. The State of Colorado allows you to forgo the two witness requirement if you choose to have your Last Will notarized by a Notary Public. If you choose to follow this path, you may bypass Step 17. Just be sure that you sign your document in the presence of your Notary Public.

Why do you need a Colorado last will and testament form?

Creating your last will and testament is an important step in estate planning. Colorado gives a testator the chance to determine what happens to their assets and dependents upon their death, allowing for the distribution of wealth to be distributed to relatives, loved ones, charities, and any other named beneficiaries. Pet trusts can also be included in Colorado wills. Last will and testaments are only applicable upon a testator’s death.

The benefits of having a will

In Colorado, making a will is not legally required. However, without one, probate courts will determine the fate of any assets and dependents.

• By creating a will, a testator can name an executor of the will (the person who will carry out any wishes or distribution of property, businesses, assets, or dependents according to the document).
• Colorado wills can also include pet trusts for any live animals, including animal offspring.
• For a will to be implemented, it must first go through probate court. Executors can then use any assets to pay any debts or taxes owed by the deceased and distribute remaining assets according to the will. In Colorado, a will must be filed within ten days of death. Any small estate that is worth less than $50,000 can bypass probate with an affidavit.
• Colorado also allows for both formal and informal probate, meaning uncontested wills can pass through probate informally, while any contests or questions must go through a formal probate process.

The costs of not having a will

When someone dies in intestacy, Colorado state law proclaims that any surviving spouse or descendants will inherit everything. A surviving spouse would also have to share any collection of personal property with surviving parents or other descendants not related to the survivor. If the deceased is not married and has minor children or dependents, the state would make decisions related to guardianship.