Who Qualifies (C.R.S. § 15-12-1201)
The Colorado small estate affidavit is available when all of the following are true:
- At least 10 days have elapsed since the date of death — one of the shortest waiting periods in the country
- The gross value of the decedent's personal property does not exceed $74,000 — calculated before subtracting debts
- No probate proceeding is pending or has been commenced in any state
- You are an heir or successor entitled to the property under the will or Colorado intestacy law
- There is no real estate in the estate (or the real estate passes some other way — through joint tenancy, trust, beneficiary deed, etc.)
Colorado is not a community property state. All personal property titled in the decedent's name alone counts toward the $74,000 threshold. Named beneficiary accounts (IRA, 401k, life insurance, POD/TOD) are not included in the threshold — they transfer directly to named beneficiaries without an affidavit.
How Colorado Compares to Neighboring States
| State | Threshold | Wait Period | UPC State? |
|---|---|---|---|
| Wyoming | $200,000 | 30 days | Yes |
| Utah | $100,000 | 30 days | Yes |
| Colorado | $74,000 | 10 days | Yes |
| Montana | $50,000 | 30 days | Yes |
| Idaho | $100,000 | 30 days | Yes |
| Nevada | $25,000 | 40 days | No |
| New Mexico | $50,000 | 30 days | Yes |
What the Affidavit Must Include
- The affiant's full name and relationship to the deceased
- The deceased's name and date of death
- A statement that at least 10 days have elapsed since the date of death
- A statement that no probate proceeding is pending or has been commenced
- A statement that the gross value of personal property does not exceed $74,000
- A statement that the affiant is entitled to the property as heir or successor
- A description of the specific property being claimed
The affidavit must be signed under oath before a notary public. Many banks and financial institutions have their own internal small estate affidavit form — ask the institution before drafting your own, as their form may be more readily accepted.
How to Use the Affidavit
- Have the affidavit signed and notarized
- Gather a certified copy of the death certificate
- Bring your government-issued photo ID
- Bring a copy of the will (if one exists — not legally required, but often requested)
- Present to the financial institution holding the assets
The institution is legally required to comply. If a teller is unfamiliar with the procedure, ask to speak with a branch manager or the institution's legal/estates department. If the institution refuses without legal cause, they may be held liable (C.R.S. § 15-12-1201(b)).
What the Affidavit Does NOT Cover
- Real estate: Colorado real property requires probate (or another non-probate transfer mechanism) — the small estate affidavit covers personal property only.
- Estates over $74,000: If the gross personal property exceeds $74,000, full probate is required.
- Named beneficiary accounts: IRAs, 401(k)s, life insurance, POD/TOD accounts transfer directly to named beneficiaries — no affidavit needed and they don't count toward the threshold.
- Joint accounts: Accounts with a surviving joint owner pass automatically.
- Creditor obligations: Using the affidavit does not eliminate the estate's debts. Heirs who collect assets under the affidavit may be personally liable to creditors up to the value of assets received.
Example — Qualifying estate: The deceased left $45,000 in a bank account and a vehicle worth $22,000. Gross total: $67,000. No real estate. All assets titled in the deceased's name alone. This estate qualifies for the Colorado small estate affidavit. After just 10 days from death, the heir can collect all assets by presenting the notarized affidavit and death certificate — zero probate, zero court fees.
Example — Not qualifying: The deceased left $55,000 in accounts, a vehicle worth $28,000, and a condominium. The condo alone requires probate regardless of value (real property titled in the deceased's name alone). Even if the condo could be excluded, the personal property totals $83,000 — over the $74,000 threshold. Full probate is required.
Example — Not qualifying: The deceased left $55,000 in accounts, a vehicle worth $28,000, and a condominium. The condo alone requires probate regardless of value (real property titled in the deceased's name alone). Even if the condo could be excluded, the personal property totals $83,000 — over the $74,000 threshold. Full probate is required.
More Colorado Probate Guides
- Colorado Informal Probate: Opening an Estate Without a Court Hearing
- Colorado Probate Timeline: Key Deadlines for Personal Representatives
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