On August 5, 2015

The costs of probate will vary from situation to situation, depending on various specific details of an estate.

Although the costs of Colorado probate vary, here are some things you can do to reduce these costs, a Denver probate & estate attorney explains.

Although the costs of Colorado probate vary, here are some things you can do to reduce these costs, a Denver probate & estate attorney explains.

In general, however, some of the factors that can affect the costs of probate in Colorado include (but may not be limited to):

  • The size of the estate – Smaller (i.e., less valuable) estates can typically pass through probate more quickly, and they may even be able to be informally probated. This typically makes probate cheaper to get through.
  • Whether the decedent left a will behind – If there is no will, probate can become far more costly, as there may be far more debate between the beneficiaries about how the assets should be distributed.
  • Whether a will is being contested – Just because there is a will doesn’t mean that probate will be inexpensive. If even one beneficiary challenges the validity of the will, probate can become far more complicated and costly.
  • The complexity of the estate – If an estate includes assets in different states or even different countries, for instance, it will be far more complicated than an estate that only includes property in Colorado. For such complex estates, the costs of probate are usually higher, as more work will need to be done to sort out the logistics of transferring that property, paying estate taxes on it, etc.

How to Keep Probate Costs Down

Because the costs of probate can end up taking away from the assets meant to go to one’s beneficiaries, planning ahead to keep these expenses down is essential.

Specifically, a few things that can be done now to help reduce your loved one’s future probate costs include:

  • Reducing the value of your estate via estate planning tools like living trusts
  • Developing a comprehensive, legal will that clearly explains your wishes (and potentially even contains provisions deterring beneficiaries from contesting the will later)
  • Keeping your will and estate plan up to date moving forward so that your wishes are accurately reflected and there is little room for contest later.

If you are a personal representative who is about to probate an estate, one of the best things you can do to reduce the upcoming probate costs is to retain an experienced Denver probate & estate attorney at JR Phillips & Associates, PC, who can expertly guide you through the process and help you avoid common, costly mistakes.

Contact a Denver Probate & Estate Attorney at JR Phillips & Associates, PC

When you need the best representation in Colorado Probate, you can turn to the Denver probate & estate attorney at JR Phillips & Associates, PC. We provide a thoughtful, comprehensive approach to our clients’ estate planning and probate needs, and we take pride in helping each of our clients and their families find the best solutions for them.

To discuss your situation and learn more about your best options for proceeding, let’s meet for initial consultation. Schedule this meeting by calling us at (303) 741-2400 or emailing us using the contact form at the top of this page. From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village and Englewood.

Categories: Probate