If a loved one left a living trust and you are the successor trustee, you may be able to settle things without a probate court. You still have duties. Anything the trust does not own can still end up in probate.
The short answer
How this differs from probate
A personal representative gets authority from court letters. A successor trustee gets authority from the trust. Banks and title companies will ask for the trust, a death certificate, and your identification. They do not always ask for letters, as long as the asset is actually titled in the trust.
That last point is the one families miss. Colorado trusts only control what was transferred into them. A house, a checking account, or a vehicle still in the person's own name may need probate, often through a short pour-over will.
The work, in order
- Get death certificates and the current trust, including any amendments
- List assets inside the trust and assets still outside it
- Tell the beneficiaries you are serving, and keep notes of what you tell them
- Get a taxpayer identification number if the trust needs one after death
- Pay the funeral, taxes, and valid debts from the proper funds
- Distribute only when you know the trust terms and which bills remain
Money and records
Open a trust account if you need one, and do not mix trust money with your own. Beneficiaries can ask for a reasonable accounting. A simple record of what came in, what went out, and why answers most questions and prevents most arguments.
Colorado expects a trustee to keep beneficiaries reasonably informed. The trust itself may set tighter deadlines. If you are unsure whether a payment or a distribution is allowed, pause. Fixing a wrong distribution is harder than waiting a week.
This guide is general information, not legal advice, and reading it does not create an attorney-client relationship. Laws change, and every family is different.