The Colorado Probate & Estate Process
Probate involves a number of legal, financial, and administrative steps before an estate can be fully settled. While every estate is different, the guide below provides a general overview of how the probate process may unfold in Colorado and where the sale of an estate property can fit into that process.
Colorado Estate Services focuses specifically on the real estate side of the estate. We work alongside personal representatives, heirs, attorneys, and other professionals to help manage inherited property, from evaluating the home and coordinating cleanouts and repairs to preparing the property for sale and managing the transaction through closing.
Step One
File a Petition with
County Court
Begin the probate process by filing the appropriate paperwork with the court in the county where the decedent lived.
Step Two
Appoint a Personal Representative
The court appoints a Personal Representative (PR), giving them the authority to manage the estate and carry out the responsibilities of the probate process.
Step Three
Evalute the Estate Property
If the estate includes real estate, we help evaluate the property’s condition, estimated value, and potential sale options so the Personal Representative can make an informed decision about what to do with the home.
Step Four
Inventory and Appraisal of Estate
The Personal Representative identifies and values the estate’s assets, including real estate, as part of the estate inventory.
Step Five
Notification of Heirs and Creditors
Required notices are provided to heirs and other interested parties, while creditors are given an opportunity to submit claims against the estate.
Step Six
Determine the Property Plan
The Personal Representative works with the appropriate professionals to determine whether the property should be retained, transferred, sold as-is, or prepared for the market.
Step Seven
Personal Property Removal
We help coordinate estate sales, donations, junk removal, and cleanouts so the property can be cleared and prepared for its next step.
Step Eight
Coordinate Repairs & Updates
When repairs or improvements make financial sense, we coordinate contractors and bids and help determine which projects are worth completing before the sale.
Step Nine
Prepare the Home for Market
We coordinate the final cleaning, landscaping, staging, and other details needed to make the property ready to present to buyers.
Step Ten
Market the Property
We professionally market the home with photography, online exposure, targeted outreach, and other strategies designed to generate strong buyer interest.
Step Eleven
Negotiate the Best Offer
We help the Personal Representative evaluate offers and negotiate price, terms, contingencies, and other details with the estate’s best interests in mind.
Step Twelve
Manage the Closing
Once under contract, we coordinate inspections, appraisal, title, deadlines, and the other real estate details needed to successfully reach closing.
Step Thirteen
Pay Debts
and Taxes
The Personal Representative works with the appropriate legal and financial professionals to address remaining estate debts, expenses, and taxes.
Step Fourteen
Distribution of
Proceeds
Once appropriate, the remaining estate assets can be distributed to heirs or beneficiaries according to the estate plan and applicable law.
Step Fifteen
Final Accounting and Closure
After the estate’s remaining obligations are addressed and required administration is complete, the estate can be formally or informally closed.