Legal Question in Tax Law in Colorado

It depends on when the decedent died, how much the decedent gifted during his or her lifetime and how much the decedent was worth at the time of his or her passing. Currently, Colorado has no estate tax. So if the decedent died in the last few years, there would be no Colorado Estate Tax. If the decedent died this year, as long as they did not make gifts and have a net worth of an amount exceeding $3,500,000 at the time of his or her passing, then you should not owe any tax. If the decedent did exceed the $3,500,000 threshhold, you would need to see a copy of his or her will or other estate planning documents to review the tax language involved to see if a portion of the estate taxes are or should be allocated to the $130,000..