This Could Happen to You
Filed Under (Wills and Estates) on 11-01-2011
What Will Happen if You Die Without a Colorado Will?Dying without a will is called dying “intestate” (i.e., without a “testament” or will). If you die intestate, the courts will use the Colorado intestate succession laws below to determine who inherits your estate.
Colorado’s Intestate Succession Laws
IF YOU HAVE A SPOUSE AND DIE INTESTATE
IF no descendants or parents THEN your spouse gets it all. IF all your descendants are also your spouse’s descendants THEN your spouse gets it all. IF no descendants BUT parents THEN your spouse gets the first $300,000 of your estate plus 3/4 of what’s left AND your parents get the rest, divided into equal shares among your living parents. IF all your descendants are also your spouse’s descendants AND your spouse has one or more descendants who are not related to you THEN your spouse gets the first $225,000 of your estate plus 1/2 of what’s left AND your descendants get the rest, divided into equal shares. IF one or more of your descendants are not related to your spouse THEN your spouse gets the first $150,000 of your estate plus 1/2 of what’s left AND your descendants will get the rest, divided into equal shares. IF YOU HAVE NO SPOUSE AND DIE INTESTATE
IF no spouse and you have executed a designated beneficiary agreement for the purposes of intestate succession THEN your designated beneficiaries get 1/2 and your surviving descendants get the other 1/2. IF no designated beneficiaries THEN your descendants (children, grandchildren, etc.) get it all, divided in equal shares. IF no descendants THEN your parents get it all. IF no parents THEN your parent’s other descendants (your brothers and sisters or their descendants) get it all, divided into equal shares. IF no parent or brothers or sisters THEN 1/2 to your paternal grandparents equally if both survive, or to the surviving grandparent, or to the surviving descendants of your paternal grandparents in equal shares And 1/2 to your maternal grandparents equally if both survive, or to the surviving maternal grandparent, or to the surviving descendants of your maternal grandparents in equal shares. IF no paternal grandparents or descendants but maternal grandparents and/or their descendants THEN to the relatives on the maternal side in equal shares. IF no maternal grandparents or descendants, but paternal grandparents and/or their descendants THEN to those relatives on the paternal side in equal shares. IF there is no one THEN the state of Colorado will get it all.
These laws are inflexible, so if you, your friends, or your family, do not like the result, there is little anyone can do. In many cases these laws may divide your estate in ways you never would have wanted.
It can be very confusing and if the court has to figure this out it will take a lot of time and cost more money than if you had left a will.
I think the bottom line here is: to save your loved ones time and money, make your will today.
For more information see, Planning a Will in Colorado, Bradford’s Legal Series.
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