Water rights are property interests in Colorado that are often separate from the land and can require specialized valuation and documentation. Begin by inventorying every water right or share you use, then gather decrees, well permits, stock certificates, and historic use records. Because changes to use or ownership may need approval in Water Court, build time into your plan for filings or expert review if a transfer or change is contemplated. Accurate identification helps avoid post-decree conflicts about priority dates, seasonal availability, and delivery obligations. If you anticipate dividing or changing a right, discuss whether a stipulation and a follow-on application are appropriate. Official resources from the Division of Water Resources and the Judicial Branch explain water rights and Water Court procedures.