Estate Planning in Colorado

Colorado does not impose a state estate or inheritance tax. Simple wills cost $400-$1,000, comprehensive plans $2,000-$5,000. Colorado adopted the Uniform Probate Code providing streamlined probate procedures. Informal probate (unsupervised) is common and less expensive than formal probate. Small estates under $74,000 in personal property qualify for affidavit procedures bypassing probate entirely. Colorado recognizes beneficiary deeds (Transfer on Death deeds) for real property. The state requires specific formalities for valid wills including two witnesses. Medical durable powers of attorney and living wills are governed by the Colorado Patient Autonomy Act.