What Is the Estate's Personal Property Worth for Probate in Colorado?
Estimate the fair market value of household items for the Colorado estate inventory — what furniture, electronics, and appliances would sell for today, not what was paid.
Personal property in Colorado is valued at fair market value: what the item would sell for on the open market as of the date of death, not what it cost. Most household goods (furniture, electronics, clothing) resell for a small fraction of their purchase price. Art, collectibles, jewelry and other high-value items are valued by a professional appraisal. Colorado lets the executor value most property without a formal appraisalC.R.S. § 15-12-706Verified Sep 15, 2026View source, though a valuable item still warrants a qualified appraiser.
No. An executor in Colorado can group low-value household goods into a single inventory line, such as "household furnishings and personal effects", while jewelry, art, vehicles and collectibles are listed individually. Each value is fair market value as of the date of death.
In Colorado, the executor files the estate inventory within 90 daysC.R.S. § 15-12-706Verified Sep 15, 2026View source of appointment. Colorado requires a supplemental inventory for assets discovered laterC.R.S. § 15-12-706Verified Sep 15, 2026View source.
In Colorado, estates with personal property of $88,000C.R.S. § 15-12-1201Verified Sep 8, 2026View source or less skip probate with the Collection of Personal Property by AffidavitC.R.S. § 15-12-1201Verified Sep 8, 2026View source, 10 daysC.R.S. § 15-12-1201Verified Sep 8, 2026View source after death. The test is the value of the personal property, so an inventory at fair market value is what decides eligibility.
High-value items such as art, antiques, jewelry and collectibles are appraised by a qualified professional, while ordinary household items (furniture, electronics, appliances, clothing) are valued from comparable sales. Colorado lets the executor value most property without a formal appraisalC.R.S. § 15-12-706Verified Sep 15, 2026View source, though a valuable item still warrants a qualified appraiser.
Is this your situation?
Get a complete guide for your specific circumstances.
Forms for Settling an Estate in Colorado
Free forms for settling an estate in Colorado: the probate petition, small estate affidavit, notice to creditors, inventory, and closing forms.
Petition for Probate and Letters
In Colorado, the petition asks the District Court of the county where the decedent lived to appoint the personal representative, whose authority is proved by Letters Testamentary or Letters of Administration; an informal (registrar) track is availableC.R.S. § 15-12-301Verified Sep 8, 2026View source.
Notice to Creditors
In Colorado, the notice to creditors is published for 3C.R.S. §§ 15-12-801, 15-12-803, 15-12-805, 15-12-806Verified Oct 18, 2026View source weeks in a local newspaper, and creditors have 4 monthsC.R.S. § 15-12-801(1) (4 months from first publication); § 15-12-803(1)(a)(III) (one-year-from-death outer bar)Verified Sep 8, 2026View source from first publication to present claims.
Renunciation of Executor
In Colorado, a person named as personal representative may renounce the right to serveC.R.S. § 15-12-203(3)Verified Sep 22, 2026View source before anyone is appointed.
Affidavit of Heirship
In Colorado, heirs put their identity on the land records with a recorded affidavit of facts affecting title that states who the heirs areC.R.S. §§ 38-35-113, 38-35-109; 15-12-1302 to 15-12-1306; 42-6-114Verified Sep 24, 2026View source; once recorded it is prima facie evidence of the facts stated.
Small Estate Affidavit
In Colorado, the Collection of Personal Property by AffidavitC.R.S. § 15-12-1201Verified Sep 8, 2026View source covers estates with personal property of $88,000C.R.S. § 15-12-1201Verified Sep 8, 2026View source or less, 10 daysC.R.S. § 15-12-1201Verified Sep 8, 2026View source after death, presented directly to the bank or other holder, not filed with a court.
Estate Inventory
In Colorado, the personal representative files the estate inventory within 90 daysC.R.S. § 15-12-706Verified Sep 15, 2026View source of appointment.
Estate Closing
In Colorado, the personal representative is discharged automatically once the statutory period runsC.R.S. § 15-12-1003(2), § 15-12-1005Verified Sep 15, 2026View source, and a final accounting is required.
Tools for Settling an Estate in Colorado
Free tools for settling an estate in Colorado: whether probate is needed, executor and trustee pay, creditor deadlines, and inheritance taxes.
How Much Can an Executor Charge?
Colorado pays executors reasonable compensationC.R.S. § 15-10-602 (reasonable compensation; no statutory percentage)Verified Sep 8, 2026View source, typically 2.2%Estimated from the 16 state statutes that set an executor fee schedule (median and interquartile range at this estate value)Verified Sep 8, 2026View source to 3.8%Estimated from the 16 state statutes that set an executor fee schedule (median and interquartile range at this estate value)Verified Sep 8, 2026View source of the estate.
Can I Self-File Probate?
In Colorado, informal probate is availableC.R.S. § 15-12-301Verified Sep 8, 2026View source, and a self-represented executor can usually handle it for a simple, uncontested estate.
How Do I Get Appointed as Executor?
In Colorado, the District Court of the county where the decedent lived appoints the personal representative and the Probate registrar in informal proceedings issues Letters Testamentary or Letters of Administration; an informal (registrar) track is availableC.R.S. § 15-12-301Verified Sep 8, 2026View source.
What Are the Creditor Claim Deadlines?
In Colorado, creditors have 4 monthsC.R.S. § 15-12-801(1) (4 months from first publication); § 15-12-803(1)(a)(III) (one-year-from-death outer bar)Verified Sep 8, 2026View source from first publication of the creditor notice to present claims; late claims are barred.
What Happens When an Estate Is Insolvent?
When an estate owes more than it holds, Colorado pays the claims in 10C.R.S. § 15-12-805Verified Sep 23, 2026View source classes in statutory order, beginning with property held by decedent as fiduciary or trustee.
How Do I Open an Estate Account When Someone Dies?
Compare estate-account opening requirements bank by bank: channels, required documents, and steps.
How Much Does Probate Cost?
Probate on a $500,000 estate in Colorado costs an estimated $26,082C.R.S. § 15-10-602 (reasonable compensation; no statutory percentage)Verified Sep 8, 2026View source. Attorney fees run 2%C.R.S. § 15-10-602 (reasonable compensation; no statutory percentage)Verified Sep 8, 2026View source to 3.1%C.R.S. § 15-10-602 (reasonable compensation; no statutory percentage)Verified Sep 8, 2026View source of the estate under a reasonable-compensation standard.
Hire a Colorado Probate Attorney
Browse 96 probate firms in Colorado with addresses, contact info, and practice details.
Your kids shouldn't have to do this.
Colorado Estate Settlement Resources
In-depth guides covering Colorado probate, estate administration, and settling an estate.