Colorado Small Estate Affidavit: Skip Probate for Estates Under $140K

What is a Small Estate Affidavit?

A small estate affidavit is a legal document that allows certain heirs to collect and transfer a deceased person's assets without going through formal probate court proceedings. In Colorado, this process is authorized by C.R.S. § 15-12-1201 for personal property and C.R.S. § 15-12-1301 for real property.

Benefits of Using a Small Estate Affidavit

• Speed: Complete in 2-4 weeks vs. 6-12 months for probate
• Cost: Minimal fees vs. $2,000-$10,000+ for full probate
• Simplicity: No court hearings required
• No attorney required: Process designed for self-help

Comparison to Full Probate

Who Qualifies for the Small Estate Process

To use Colorado's small estate affidavit process, you must meet ALL of the following requirements:

Value Thresholds

• Personal property: Total value less than $70,000
• Real property: Total equity less than $70,000

Important: These are separate thresholds, not combined. An estate could have $69,000 in personal property AND $69,000 in real property equity and still qualify.

Calculating Real Property Equity

Equity = Fair Market Value - Outstanding Mortgages/Liens

Other Requirements

• 10-day waiting period: Must wait at least 10 days after death
• No probate filed: No one has opened probate proceedings
• Proper successor: You must be a lawful successor (heir named in will or heir under intestate succession if no will)

What Counts as Personal Property?

Personal property includes:

• Bank accounts (checking, savings, CDs)
• Investment accounts and stocks
• Vehicles
• Household goods and furniture
• Jewelry and valuables
• Business interests

Excluded from the calculation:

• Assets with designated beneficiaries (life insurance, retirement accounts, TOD accounts)
• Jointly owned property with right of survivorship
• Property held in a trust

Process for Personal Property

Claiming personal property (bank accounts, vehicles, etc.) with a small estate affidavit is straightforward.

Step 1: Wait 10 Days

You cannot use the affidavit until at least 10 days have passed since the decedent's death. This waiting period is required by law.

Step 2: Prepare the Affidavit

Complete Colorado form JDF 999 "Affidavit for Collection of Personal Property." The affidavit must state:

• The decedent's name and date of death
• That you are entitled to the property
• That the estate value is under $70,000
• That no probate proceeding has been filed
• That 10+ days have passed since death

Step 3: Gather Supporting Documents

You'll need:

• Certified copy of death certificate
• Copy of will (if one exists)
• Your identification
• Proof of your relationship if no will

Step 4: Present to Institution

Take the affidavit and supporting documents to each institution holding the decedent's property (banks, DMV for vehicles, etc.). They are legally required to release the property upon receipt of a proper affidavit.

Process for Real Property

Transferring real property (land and buildings) with equity under $70,000 requires a slightly more formal process called "summary administration."

Step 1: Confirm Eligibility

Calculate the property's equity (value minus mortgages). If equity exceeds $70,000, you cannot use this process and must use full probate.

Step 2: Prepare Documents

You'll need:

• Petition for Summary Administration
• Certified death certificate
• Copy of the will (if any)
• Legal description of the property
• Proof of property value and liens

Step 3: File with District Court

File the petition with the district court in the county where the decedent resided. Pay the filing fee (approximately $50-$100).

Step 4: Receive Court Order

The court reviews your petition and, if approved, issues an order authorizing the transfer of the real property. This typically takes 1-3 weeks.

Step 5: Record the Transfer

Record the court order and a personal representative deed with the county clerk and recorder where the property is located. Pay the recording fee (typically $13-$30 per document).

Required Forms

Colorado provides standard forms for the small estate process. All forms are available from the Colorado Judicial Branch website.

For Personal Property

• JDF 999: Affidavit for Collection of Personal Property

For Real Property

• JDF 908: Petition for Formal Appointment of Personal Representative (modified for summary administration)
• JDF 910: Letters of Administration
• Personal Representative Deed: To transfer title (not a standard court form)

Where to Get Forms

Download forms from: www.courts.state.co.us (Colorado Judicial Branch)

Search for "probate forms" or navigate to: Courts > Self Help > Probate

Step-by-Step Guide

Here is the complete process for using Colorado's small estate affidavit:

Day 1-10: Preparation Phase

1. Obtain certified copies of the death certificate (at least 3-5 copies)
2. Locate the will (if one exists)
3. Inventory all assets of the estate
4. Calculate total personal property value
5. Calculate real property equity (if applicable)
6. Confirm values are under the $70,000 thresholds
7. Wait until at least 10 days after death

Days 11-14: Document Preparation

1. Download and complete JDF 999 (personal property)
2. If real property involved, prepare petition for summary administration
3. Have documents notarized if required
4. Gather all supporting documents

Days 14-21: Collection Phase

1. Present affidavit to banks and financial institutions
2. Take affidavit to DMV for vehicle transfers
3. Contact other entities holding assets
4. File with court if real property involved

Days 21-30: Completion

1. Collect all released assets
2. Receive court order for real property (if applicable)
3. Record deed for real property transfers
4. Distribute assets to rightful heirs

Limitations and Considerations

While the small estate process is simpler, it has important limitations:

No Creditor Protection

Unlike full probate, the small estate process does not include a formal creditor claim period. If creditors come forward after assets are distributed, successors may be personally liable. The law provides some protection, but it's less robust than probate.

Personal Liability

By signing the affidavit, you certify that your statements are true. You can be held liable if:

• The estate actually exceeds the thresholds
• You are not actually entitled to the property
• You fail to pay valid debts of the decedent

Most Colorado Properties Don't Qualify

With median home prices in Colorado well over $500,000 in most areas, few properties have equity under $70,000 unless there is a large mortgage. This limits the usefulness of the process for real estate.

Complex Situations

The small estate process is not appropriate for:

• Contested estates or family disputes
• Complex tax situations
• Estates with pending lawsuits
• Situations where creditors are likely to make claims