Understanding the Different Types of Wills in Colorado

Colorado recognizes several kinds of wills, and the right one depends on your family, your assets, and how much control you want after death. The most common are simple wills, mirror wills, joint wills, holographic wills, pour-over wills, and wills that create a testamentary trust.

Most types share the same core signing rules, and each solves a different problem. Here is how they compare.

What Every Colorado Will Needs

A will is the foundation of most estate plans, and it often works alongside a trust; the difference between a will and a trust affects which documents you need. Apart from handwritten wills and a few narrow statutory exceptions, a Colorado will must be in writing and signed by the person making it, called the testator.

It must also be either signed by at least two witnesses or acknowledged by the testator before a notary public.¹ Because the statute requires a writing, an oral will is not valid in Colorado.

Simple Will

A simple will leaves your property to the people or organizations you choose and names a personal representative to handle the estate.

For many people with straightforward assets, a simple will is enough. Accounts with named beneficiaries and property held jointly with survivorship rights usually pass outside the will.

Mirror Wills

Mirror wills are two separate wills signed by spouses or partners with matching terms, usually leaving everything to each other and then to the same beneficiaries. Each person can change their own will later.

That flexibility is also the risk. After the first death, the survivor can change their will, so children from an earlier relationship may need other protection.

Joint Will

A joint will is one document signed by two people. Signing a joint will or mutual wills does not, by itself, create a presumption that the survivor agreed never to change it.²

A binding promise not to revoke has to appear in the will or in a separate signed writing. Because joint wills create these questions, many planners prefer mirror wills or a trust.

The type of will matters less than whether it fits the rest of your plan, including titles and beneficiary forms. Johnson Law Group offers a no-pressure consultation to review your options, so schedule a consultation before you sign anything.

Holographic Will

A holographic will is handwritten. In Colorado it can be valid without witnesses if the signature and the material portions of the document are in the testator’s handwriting.³

Handwritten wills can be valid, but they often leave gaps or unclear wording that lead to disputes. Treat one as a stopgap until a complete will is signed.

Pour-Over Will

A pour-over will works with a living trust. It moves any property left outside the trust into the trust at death, so the trust’s terms control. A pour-over will is a safety net, not a replacement for funding the trust.

Will With a Testamentary Trust

A will can create a trust that begins only after death, often to hold an inheritance for minor children or a beneficiary who needs management. A testamentary trust goes through probate because the will creates it.

A Note on Personal Items

A will can refer to a separate signed list that leaves specific items of tangible personal property, other than money, to named people.⁴ That list can be changed without rewriting the will.

Talk With a Colorado Estate Planning Attorney

Choosing a type of will is one decision in a larger plan that includes trusts, beneficiary designations, and titles. Johnson Law Group is here to help.

The attorneys at Johnson Law Group help clients choose and prepare the will that fits their family and will give you a clear read on your options. Schedule a free consultation through our Colorado offices, and we will serve as your North Star from here.

Sources