Colo. Rev. Stat. § 15-12-101
The power of a person to leave property by will and the rights of creditors, devisees, and heirs to his property are subject to the restrictions and limitations contained in this code to facilitate the prompt settlement of estates. Upon the death of a person, his real and personal property devolves to the persons to whom it is devised by his last will or to those indicated as substitutes for them in cases involving lapse, renunciation, or other circumstances affecting the devolution of the testate estate or, in the absence of testamentary disposition, to his heirs or to those indicated as substitutes for them in cases involving renunciation or other circumstances affecting devolution of intestate estates, subject to exempt property and family allowances, rights of creditors, elective share of the surviving spouse, and administration.
C.R.S. § 15-12-101
For intestate succession, see article 11 of this title; for the elective share of a surviving spouse, see § 15-11-201 ; for exempt property allowance and family allowance, see §§ 15-11-403 and 15-11-404, respectively; for lapse of a devise, see § 15-11-511(3) ; for renunciation of succession, see the "Uniform Disclaimer of Property Interests Act", part 12 of article 11 of this title; for rights of creditors, see part 8 of this article.