Title 15, Probate, Trusts, and Fiduciaries
0 chapters · 926 sections in this title.
Colo. Rev. Stat. § 15-12-1004 Liability of distributees to claimants
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After assets of an estate have been distributed and subject to section 15-12-1006, an undischarged claim not barred may be prosecuted in a proceeding against one or more distributees. No distributee shall be liable to claimants for amounts received as exempt property or family al…
Colo. Rev. Stat. § 15-12-1005 Limitations on proceedings against personal representative
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Unless previously barred by adjudication and except as provided in the closing statement, the rights of successors and of creditors whose claims have not otherwise been barred against the personal representative for breach of fiduciary duty are barred unless a proceeding to asser…
Colo. Rev. Stat. § 15-12-1006 Limitations on actions and proceedings against distributees
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(1) Unless previously adjudicated in a formal testacy proceeding or in a proceeding settling the accounts of a personal representative or otherwise barred, the claim of any claimant to recover from a distributee who is liable to pay the claim, and the right of any heir or devisee…
Colo. Rev. Stat. § 15-12-1007 Certificate discharging liens securing fiduciary performance
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After his appointment has terminated, the personal representative, his sureties, or any successor of either, upon the filing of a verified application showing, so far as is known by the applicant, that no action concerning the estate is pending in any court, is entitled to receiv…
Colo. Rev. Stat. § 15-12-1008 Subsequent administration
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If, after an estate has been settled and the personal representative discharged or after one year after a closing statement has been filed, it is determined that the estate has not been fully administered or fully distributed by reason of subsequently discovered property or for a…
Colo. Rev. Stat. § 15-12-1009 Estates not closed after three years or more
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(1) When records of the court indicate no action has been taken in an estate for a period of three years or more, the court may, on its own motion, and after notice to the attorney of record, if available, or if there is no attorney of record, then to the personal representative,…
Colo. Rev. Stat. § 15-12-101 Devolution of estate at death; restrictions
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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 persona…
Colo. Rev. Stat. § 15-12-102 Necessity of order of probate for will
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Except as provided in sections 15-12-901, 15-12-1201, 15-13-204, and 15-13-205 and in part 13 of this article, to be effective to prove the transfer of any property or to nominate a personal representative, a will must be declared to be valid by an order of informal probate by th…
Colo. Rev. Stat. § 15-12-103 Necessity of appointment for administration
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Except as otherwise provided in article 13 of this title, to acquire the powers and undertake the duties and liabilities of a personal representative of a decedent, a person must be appointed by order of the court or registrar, qualify, and be issued letters. Administration of an…
Colo. Rev. Stat. § 15-12-104 Claims against decedent
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No claim may be presented and no proceeding to enforce a claim against the estate of a decedent or his or her successors may be revived or commenced before the appointment of a personal representative, except as permitted by section 15-12-804. After the appointment and until dist…
Colo. Rev. Stat. § 15-12-105 Proceedings affecting devolution and administration - jurisdiction of subject matter
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Persons interested in decedents ‘ estates may apply to the registrar for determination in the informal proceedings provided in this article and may petition the court for orders in formal proceedings within the court ‘s jurisdiction. The court has jurisdiction as provided in sect…
Colo. Rev. Stat. § 15-12-106 Proceedings within the exclusive jurisdiction of court - service - jurisdiction over persons
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In proceedings where notice is required by this code or by rule, interested persons may be bound by the orders of the court in respect to property in or subject to the laws of this state by notice in conformity with section 15-10-401. An order is binding as to all who are given n…
Colo. Rev. Stat. § 15-12-107 Scope of proceedings - proceedings independent - exception
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(1) Unless supervised administration as described in part 5 of this article is involved: (a) Each proceeding before the court or registrar is independent of any other proceeding involving the same estate; (b) Petitions for formal orders of the court may combine various requests f…
Colo. Rev. Stat. § 15-12-108 Probate, testacy, and appointment proceedings - ultimate time limit
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(1) No informal probate or appointment proceeding or formal testacy or appointment proceeding, other than a proceeding to probate a will previously probated at the testator ‘s domicile and appointment proceedings relating to an estate in which there has been a prior appointment, …
Colo. Rev. Stat. § 15-12-109 Statutes of limitations on decedent's cause of action
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No statute of limitations running on a cause of action belonging to a decedent which had not been barred as of the date of his death shall apply to bar a cause of action surviving the decedent's death sooner than one year after death. A cause of action which, but for this section…
Colo. Rev. Stat. § 15-12-1102 Procedure for securing court approval of compromise
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(1) The procedure for securing court approval of a compromise is as follows: (a) The terms of the compromise shall be set forth in an agreement in writing which shall be executed by all competent persons and parents acting for any minor child having beneficial interests or having…
Colo. Rev. Stat. § 15-12-1201 Collection of personal property by affidavit
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(1) At any time ten or more days after the date of death of a decedent, any person indebted to the decedent or having possession of any personal property, including but not limited to funds on deposit at, or any contents of a safe deposit box at, any financial institution; tangib…
Colo. Rev. Stat. § 15-12-1202 Effect of affidavit
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(1) The person paying, delivering, transferring, or issuing personal property or the evidence thereof pursuant to affidavit is discharged and released to the same extent as if he or she dealt with a personal representative of the decedent. He or she is not required to see to the …
Colo. Rev. Stat. § 15-12-1203 Small estates - summary administrative procedure
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If it appears from the inventory and appraisal that the value of the entire estate, less liens and encumbrances, does not exceed the value of personal property held by or in the possession of the decedent as fiduciary or trustee, exempt property allowance, family allowance, costs…
Colo. Rev. Stat. § 15-12-1205 Time of taking effect - provisions for transition
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The provisions of sections 15-12-1201 and 15-12-1202 became effective on July 1, 1974, regardless of the date of the death of the decedent. Source: L. 75: Entire section added, p. 601, � 43, effective July 1. Editor's note: This section does not apply to the amendments made to � …
Colo. Rev. Stat. § 15-12-1301 Definitions
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As used in this part 13, unless the context otherwise requires: (1) Interested person means an owner by descent or succession, an alleged heir or devisee of a decedent, any other person claiming an ownership interest derived from an owner by descent or succession, or an alleged h…
Colo. Rev. Stat. § 15-12-1303 Hearing - notice - service
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(1) The petitioner shall prepare a notice that identifies the petition and includes the name of each decedent; the name of each interested person; a description of the property set forth in the petition, including a legal description if the property is real property; and the time…
Colo. Rev. Stat. § 15-12-1304 Appearance - hearing
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Any interested person or person who may be affected by the ownership of the decedent's interest in the property, the descent or succession of which is to be determined in the petition, may appear and object and establish any proper defense to the petition or any part thereof, or …
Colo. Rev. Stat. § 15-12-1305 Judgment
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The court shall determine the standing of the petitioner to bring the action; the heirs and devisees of the decedent; the owners by descent or succession of the property; a description of the property, including a legal description if the property is real property; and any other …
Colo. Rev. Stat. § 15-12-1306 Decree - conclusive and when - reopening
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A decree entered pursuant to this part 13 is conclusive as to the rights of heirs or devisees in the property described in the order from the date of its entry. If such a decree affects title to real property, a certified copy of the decree must be recorded and indexed in the off…
Colo. Rev. Stat. § 15-12-1307 Title of proceedings
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All such proceedings shall be titled substantially in the following form: IN THE MATTER OF THE DETERMINATION OF HEIRS OR DEVISEES OR BOTH, AND OF INTERESTS IN PROPERTY, OF (Names of decedents) , Deceased.. Source: L. 93: Entire part R&RE, p. 1244, � 1, effective July 1.
Colo. Rev. Stat. § 15-12-1308 Proceedings under the rules of civil procedure
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Nothing herein shall be construed to prevent determination of the descent or the succession of property pursuant to the Colorado Rules of Civil Procedure or any other provision of this code. Source: L. 93: Entire part R&RE, p. 1244, � 1, effective July 1. L. 2019: Entire section …
Colo. Rev. Stat. § 15-12-1309 Effective date - applicability
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This part 13 shall take effect July 1, 1993, and shall apply to all proceedings commenced on or after said date. Source: L. 93: Entire part R&RE, p. 1244, � 1, effective July 1.
Colo. Rev. Stat. § 15-12-1401 Short title
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This part 14 shall be known and may be cited as the Colorado Uniform Estate Tax Apportionment Act. Source: L. 2011: Entire part added, (SB 11-165), ch. 184, p. 699, � 1, effective August 10.
Colo. Rev. Stat. § 15-12-1402 Definitions
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As used in this part 14, unless the context otherwise requires: (1) Apportionable estate means the value of the gross estate as finally determined for purposes of the estate tax to be apportioned, reduced by: (a) Any claim or expense allowable as a deduction for purposes of the e…
Colo. Rev. Stat. § 15-12-1403 Apportionment by will or other dispositive instrument
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(1) Except as otherwise provided in subsection (3) of this section, the following rules apply: (a) To the extent that a provision of a decedent's will expressly and unambiguously directs the apportionment of an estate tax, the tax shall be apportioned accordingly. (b) Any portion…
Colo. Rev. Stat. § 15-12-1404 Statutory apportionment of estate taxes
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(1) To the extent that apportionment of an estate tax is not controlled by an instrument described in section 15-12-1403, and except as otherwise provided for in sections 15-12-1406 and 15-12-1407, the following rules apply: (a) Subject to paragraphs (b) to (d) of this subsection…
Colo. Rev. Stat. § 15-12-1405 Credits and deferrals
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(1) Except as otherwise provided for in sections 15-12-1406 and 15-12-1407, the following rules apply to credits and deferrals of estate taxes: (a) A credit resulting from the payment of gift taxes or from estate taxes paid on property previously taxed inures ratably to the benef…
Colo. Rev. Stat. § 15-12-1406 Insulated property, advancement of tax - definitions
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(1) As used in this section, unless the context otherwise requires: (a) Advanced fraction means a fraction that has as its numerator the amount of the advanced tax and as its denominator the value of the interests in insulated property to which that tax is attributable. (b) Advan…
Colo. Rev. Stat. § 15-12-1407 Apportionment and recapture of special elective benefits
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(1) As used in this section, unless the context otherwise requires: (a) Special elective benefit means a reduction in an estate tax obtained by an election for: (I) A reduced valuation of specified property that is included in the gross estate; (II) A deduction from the gross est…
Colo. Rev. Stat. § 15-12-1408 Securing payment of estate tax from property in possession of fiduciary
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(1) A fiduciary may defer a distribution of property until the fiduciary is satisfied that adequate provision for payment of the estate tax has been made. (2) A fiduciary may withhold from a distributee an amount equal to the amount of estate tax apportioned to an interest of the…
Colo. Rev. Stat. § 15-12-1409 Collection of estate tax by fiduciary
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(1) A fiduciary responsible for payment of an estate tax may collect from any person the tax apportioned to and the tax required to be advanced by that person. (2) Except as otherwise provided for in section 15-12-1406, any estate tax due from a person that cannot be collected fr…
Colo. Rev. Stat. § 15-12-1410 Right of reimbursement
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(1) A person required pursuant to section 15-12-1409 to pay an estate tax greater than the amount due from the person pursuant to sections 15-12-1403 and 15-12-1404 has a right to reimbursement from another person to the extent that the other person has not paid the tax required …
Colo. Rev. Stat. § 15-12-1411 Action to determine or enforce part
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A fiduciary, transferee, or beneficiary of the gross estate may maintain an action for declaratory judgment to have a court determine and enforce this part 14. Source: L. 2011: Entire part added, (SB 11-165), ch. 184, p. 707, � 1, effective August 10.
Colo. Rev. Stat. § 15-12-1412 Uniformity of application and construction
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In applying and construing this part 14, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it. Source: L. 2011: Entire part added, (SB 11-165), ch. 184, p. 707, � 1, effective August 10.
Colo. Rev. Stat. § 15-12-1413 Severability
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If any provision of this part 14 or the application thereof to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this part 14 that can be given effect without the invalid provision or application, and to this end the pr…
Colo. Rev. Stat. § 15-12-1414 Delayed application
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(1) Sections 15-12-1403 to 15-12-1407 shall not apply to the estate of a decedent who dies on or within three years after August 10, 2011, nor to the estate of a decedent who dies more than three years after August 10, 2011, if the decedent continuously lacked testamentary capaci…
Colo. Rev. Stat. § 15-12-201 Venue for first and subsequent estate proceedings - location of property
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(1) Venue for the first informal or formal testacy or appointment proceedings after a decedent ‘s death is: (a) In the county where the decedent had his domicile or his residence at the time of his death; or (b) If the decedent was not domiciled in nor a resident of this state, i…
Colo. Rev. Stat. § 15-12-202 (Reserved)
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15-12-203. Priority among persons seeking appointment as personal representative. (1) Whether the proceedings are formal or informal, persons who are not disqualified have priority for appointment in the following order: (a) The person with priority as determined by a probated wi…
Colo. Rev. Stat. § 15-12-203 Priority among persons seeking appointment as personal representative
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(1) Whether the proceedings are formal or informal, persons who are not disqualified have priority for appointment in the following order: (a) The person with priority as determined by a probated will including a person nominated by a power conferred in a will; (b) The surviving …
Colo. Rev. Stat. § 15-12-204 Demand for notice of order or filing concerning decedent ‘s estate
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Any person desiring notice of any order or filing pertaining to a decedent ‘s estate in which he has a financial or property interest may file a demand for notice with the court at any time after the death of the decedent stating the name of the decedent, the nature of his intere…
Colo. Rev. Stat. § 15-12-301 Informal probate or appointment proceedings - application - contents
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(1) Applications for informal probate or informal appointment shall be directed to the registrar and verified by the applicant to be accurate and complete to the best of his knowledge and belief as to the information required by this section. (2) Every application for informal pr…
Colo. Rev. Stat. § 15-12-302 Informal probate - duty of registrar - effect of informal probate
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Upon receipt of an application requesting informal probate of a will, the registrar, upon making the findings required by section 15-12-303, shall issue a written statement of informal probate. Informal probate is conclusive as to all persons until superseded by an order in a for…
Colo. Rev. Stat. § 15-12-303 Informal probate - proof and findings required
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(1) In an informal proceeding for original probate of a will, the registrar shall determine that: (a) The application is complete; (b) The applicant has made oath or affirmation that the statements contained in the application are true to the best of his knowledge and belief; (c)…
Colo. Rev. Stat. § 15-12-304 Informal probate - unavailable in certain cases
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(1) Applications for informal probate that relate to any of the following must be declined: (a) One or more of a known series of testamentary instruments, other than a will and one or more codicils thereto, the latest of which does not expressly revoke the earlier; or (b) A copy …