What the rule says
Colorado provides a streamlined alternative to formal probate for small estates. Under Colo. Rev. Stat. § 15-12-1201, a successor can collect personal property of a Colorado decedent without going through formal probate, if:
- The total value of the personal property does not exceed approximately $80,000 (indexed annually for inflation; the figure for the year of the decedent's death applies) - The decedent has been dead for at least 10 days (one of the shortest waiting periods in the country) - No application for the appointment of a personal representative has been granted - The successor presents an affidavit
Colorado's $80,000 threshold (indexed) is among the more generous in the country, and the 10-day waiting period is significantly shorter than most states' 30-45 day periods.
What this means in practice
Key practical points:
- 10-day waiting period. Among the shortest nationally — Colorado allows quick administrative resolution. - $80,000 threshold counts personal property only. Indexed annually for inflation. - Real property not covered. Real property requires separate procedures. - No court involvement. The procedure operates entirely outside the probate court system.
How this fits with CO's other tools
Colorado offers several alternatives to formal probate:
- Collection by affidavit (§ 15-12-1201): Up to $80,000 (indexed). - Informal probate: Streamlined formal probate. - Formal probate: Court-supervised when warranted. - Beneficiary deed (Colo. Rev. Stat. § 15-15-401 et seq.): Colorado's TOD deed for real property — covered separately as Colorado's distinctive rule.
For most Colorado estates, the combination of beneficiary deeds for real property, beneficiary designations for financial accounts, and the small-estate affidavit can avoid formal probate entirely.
What you can do about it
For a survivor of a Colorado decedent:
1. Calculate personal property value. Stay within the indexed threshold (~$80,000). 2. Wait 10 days from death. 3. Prepare and present the affidavit. 4. Distribute property.
Who this affects most
Colorado's small-estate procedure is most relevant for survivors of Colorado decedents with modest probate estates. The short waiting period and indexed threshold make it among the most practical small-estate frameworks in the country.