Colorado Personal Representative Without Bond

State:
Colorado
Control #:
CO-02-84
Format:
Word; 
Rich Text
Instant download

Description

The Colorado Personal Representative Without Bond form is designed for the distribution of a decedent's estate without requiring the personal representative to post a bond, simplifying the probate process. This document empowers the designated personal representative to transfer real property to two individuals as per the terms outlined in the decedent's will. Key features include user-friendly form fields for easy completion via computer, but the form can also be printed and filled out by hand. It’s important for the representative to indicate how the grantees will hold the property—either as Tenants in Common or Joint Tenants with Right of Survivorship. This form is particularly useful for attorneys, partners, owners, and legal professionals working with estates, as it streamlines the legal requirements associated with property distribution. Paralegals and legal assistants can benefit from this form by easily preparing the necessary documentation for their clients, ensuring compliance with Colorado probate laws. Clear instructions are provided for filling out the form, enhancing its utility for users at various levels of legal experience.
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  • Preview Deed of Distribution - Personal Representative to Two Individuals
  • Preview Deed of Distribution - Personal Representative to Two Individuals
  • Preview Deed of Distribution - Personal Representative to Two Individuals
  • Preview Deed of Distribution - Personal Representative to Two Individuals
  • Preview Deed of Distribution - Personal Representative to Two Individuals

How to fill out Colorado Deed Of Distribution - Personal Representative To Two Individuals?

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FAQ

Under Colorado law, a personal representative must be of sound mind and over 20 years old. It is also a good idea to choose at least one successor personal representative who could serve if your primary personal representative is unable or unwilling to do so.

(7) A personal representative appointed by a court of the decedent's domicile has priority over all other persons except where the decedent's will nominates different persons to be personal representative in this state and in the state of domicile.

In legal terms the bond of a personal representative protects the estate from the misfeasance, malfeasance and nonfeasance of the fiduciary. If you need to identify an attorney with probate experience we recommend Martindale.

Even without a statutory guideline on executor fees in Colorado, the general understanding among legal professionals suggests that an executor can expect to receive about 2-5% of the estate's value. However, this percentage can vary based on the specifics of the estate and the executor's duties.

By Application to the Registrar (Informal Proceeding). The Registrar may appoint a Nominee as Personal Representative without prior notice to any Interested Persons, if the Nominee has priority for appointment.

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Colorado Personal Representative Without Bond