Colorado Estate Planning Checklist: What to Put in Place Before You Need It

Estate planning is the work you do while you are healthy so that the people you love have clear authority and clear instructions if something happens. When families skip this step, even a straightforward estate can take 12 to 18 months to settle, cost thousands in avoidable attorney fees, and produce family conflict that outlasts the legal process.

This checklist covers the core documents that every Colorado adult should have in place — and what each one actually does for your family.

1. A Valid Will

A will designates who inherits your probate assets, names a Personal Representative (executor) to manage the settlement process, and — critically for parents — nominates a guardian for minor children.

Colorado accepts two forms of valid wills:

Formally executed will: typed or printed, signed in the presence of two adult witnesses who also sign, or signed before a notary. If the will is notarized (with a witness affidavit), it is "self-proving" — the witnesses do not need to testify in court when the will is admitted to probate.

Holographic will: entirely in the testator's own handwriting and signed by the testator. No witnesses or notarization required. Valid under C.R.S. § 15-11-502, but more vulnerable to challenge and harder to probate efficiently.

Action item: If you have a handwritten will, consider having it formally redone with witnesses and notarization. Store the original somewhere accessible — and tell your Personal Representative where it is.

2. A Financial Durable Power of Attorney

A financial Durable Power of Attorney (DPOA) authorizes someone you trust — your agent — to manage financial matters on your behalf if you become incapacitated. Without one, a family member who needs to pay your bills, file tax returns, or manage investments during a medical crisis must petition the court for a conservatorship — an expensive, time-consuming process.

The DPOA is "durable" because it remains effective through incapacity. It becomes effective either immediately upon signing (a "springing" power can be drafted to activate only upon incapacity, but this creates execution friction). It terminates at death.

Action item: Have your DPOA drafted or reviewed by a Colorado attorney. The powers granted should be specific and comprehensive — vague language creates problems when agents actually try to use the document.

3. A Medical Durable Power of Attorney

The Medical Durable Power of Attorney (MDPOA) appoints a healthcare agent to make medical decisions if you cannot make them yourself. It does not specify which treatments to accept or refuse — it designates who decides.

The MDPOA's authority ends at death. After death, the healthcare agent has no legal power over the estate or the disposition of remains.

Action item: Name a healthcare agent you trust to advocate for your wishes under pressure. Give them a copy of the document and confirm they are willing to serve.

4. A MOST Form (if Applicable)

The Medical Orders for Scope of Treatment (MOST form) is a physician-signed medical order that specifies your wishes regarding CPR, artificial ventilation, and other interventions. It is different from the MDPOA — it is an active order, not a delegation of authority.

The MOST form is most relevant for people with serious illness or declining health. In Colorado, CPR is the default response: emergency personnel will administer it unless a valid MOST form or CPR Directive is present and visible.

Action item: If you or a family member is seriously ill, talk to the primary care physician about completing a MOST form. Keep the original visible and accessible at home.

5. A Declaration of Disposition of Last Remains

This document designates who has legal authority to control the disposition of your remains — burial versus cremation, location, timing, and memorial preferences. Without it, authority passes to the next of kin in the statutory order, which may not reflect your wishes or may produce family disagreements.

Action item: Complete this simple form and ensure the designated person knows about it and has a copy.

6. Beneficiary Designations

These are not will documents — they are designations made directly with financial institutions. Every account or asset with a beneficiary designation passes outside the will entirely:

• Bank accounts: add POD (Payable-on-Death) designations
• Investment accounts: add TOD (Transfer-on-Death) designations
• Life insurance policies: name a beneficiary and a contingent beneficiary
• Retirement accounts (IRA, 401k): name a primary and contingent beneficiary

Beneficiary designations override your will. If your will leaves everything to your children but your IRA names your ex-spouse as beneficiary, your ex-spouse gets the IRA.

Action item: Review all beneficiary designations after any major life event — marriage, divorce, birth of a child, death of a named beneficiary.

7. A Beneficiary Deed for Real Estate

Colorado allows homeowners to record a beneficiary deed (transfer on death deed) with the county clerk and recorder, naming who will receive the property at death without probate. The deed has no effect during your lifetime — you retain full ownership and can revoke it at any time.

For the beneficiary to complete the transfer after your death, they must record a certified copy of your death certificate with the county clerk within four months of your death.

Recording fee: $43 flat fee in most Colorado counties.

Action item: If you own real estate titled solely in your name, consider whether a beneficiary deed makes sense. It is one of the simplest and cheapest ways to keep real property out of probate.

8. A Living Trust (For Larger or Complex Estates)

A revocable living trust holds your assets during your lifetime and distributes them according to your instructions after death — without probate, without court involvement, and with greater privacy than a will. Trusts make sense for:

• Estates with significant real estate in multiple states
• Blended families with complex distribution wishes
• Beneficiaries who need structured, staggered distributions

Trusts are more expensive to set up than a will and require active maintenance — you must actually transfer assets into the trust (a process called "funding") for them to bypass probate.

Action item: If your estate is complex, consult an estate planning attorney about whether a trust structure makes sense.

What Happens If You Skip These Steps

When none of these documents exist, Colorado's default rules take over. Your estate passes under intestate succession laws. The court appoints a Personal Representative without your input. Your surviving spouse may end up in probate with your children from a prior relationship fighting over who controls what. Your healthcare wishes are left to whoever happens to be present.

The Colorado Estate Settlement Guide at /us/colorado/estate-settlement/ covers both the planning documents covered here and the full post-death settlement process — what the Personal Representative must do, which forms are required, the creditor notification strategy, and how to close the estate efficiently. If you are already in the middle of settling someone else's estate, it is the step-by-step roadmap.

Quick Reference: Colorado Estate Planning Checklist

• [ ] Valid will with named Personal Representative and guardian for minor children
• [ ] Financial Durable Power of Attorney for a trusted agent
• [ ] Medical Durable Power of Attorney designating a healthcare agent
• [ ] MOST form (if seriously ill or elderly)
• [ ] Declaration of Disposition of Last Remains
• [ ] POD/TOD designations reviewed on all financial accounts
• [ ] Beneficiary designations reviewed on life insurance and retirement accounts
• [ ] Beneficiary deed recorded for real estate (if applicable)
• [ ] Copies of all documents stored in a secure, known location
• [ ] Key people (Personal Representative, healthcare agent) informed and holding copies

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