6 | | - | ONCERNING CHANGES TO THE "COLORADO PROBATE CODE". |
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7 | | - | |
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8 | | - | Be it enacted by the General Assembly of the State of Colorado: |
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9 | | - | SECTION 1. In Colorado Revised Statutes, 15-11-101, amend (2) |
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10 | | - | as follows: |
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11 | | - | 15-11-101. Intestate estate. (2) A decedent by will may expressly |
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12 | | - | exclude or limit the right of an individual or class to succeed to property of |
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13 | | - | the decedent passing by intestate succession. If that individual or a member |
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14 | | - | of that class survives the decedent, the share of the decedent's intestate |
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15 | | - | estate to which that individual or class would have succeeded passes as if |
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16 | | - | that individual or each member of that class had disclaimed his or her THE |
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17 | | - | intestate share. |
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18 | | - | SECTION 2. In Colorado Revised Statutes, repeal and reenact, |
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19 | | - | with amendments, 15-11-103 as follows: |
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20 | | - | NOTE: This bill has been prepared for the signatures of the appropriate legislative |
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21 | | - | officers and the Governor. To determine whether the Governor has signed the bill |
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22 | | - | or taken other action on it, please consult the legislative status sheet, the legislative |
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23 | | - | history, or the Session Laws. |
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24 | | - | ________ |
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25 | | - | Capital letters or bold & italic numbers indicate new material added to existing law; dashes |
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26 | | - | through words or numbers indicate deletions from existing law and such material is not part of |
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27 | | - | the act. 15-11-103. Share of heirs other than surviving spouse and |
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| 13 | + | ONCERNING CHANGES TO THE "COLORADO PROBATE CODE".101 |
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| 14 | + | Bill Summary |
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| 15 | + | (Note: This summary applies to this bill as introduced and does |
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| 16 | + | not reflect any amendments that may be subsequently adopted. If this bill |
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| 17 | + | passes third reading in the house of introduction, a bill summary that |
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| 18 | + | applies to the reengrossed version of this bill will be available at |
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| 19 | + | http://leg.colorado.gov/ |
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| 20 | + | .) |
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| 21 | + | Colorado Commission on Uniform State Laws. The bill makes |
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| 22 | + | changes to the "Colorado Probate Code" (code). Specifically, the bill |
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| 23 | + | describes how property passes when a decedent dies without a will |
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| 24 | + | (intestate) and the estate or any part of the estate does not pass to a |
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| 25 | + | surviving spouse or designated beneficiary pursuant to existing law. In |
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| 26 | + | that situation, the portion of the estate passing through intestate |
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| 27 | + | succession is distributed as follows: |
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| 28 | + | ! If the decedent is survived by one or more descendants, the |
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| 29 | + | HOUSE |
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| 30 | + | 3rd Reading Unamended |
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| 31 | + | March 16, 2022 |
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| 32 | + | HOUSE |
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| 33 | + | 2nd Reading Unamended |
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| 34 | + | March 15, 2022 |
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| 35 | + | SENATE |
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| 36 | + | 3rd Reading Unamended |
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| 37 | + | February 23, 2022 |
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| 38 | + | SENATE |
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| 39 | + | 2nd Reading Unamended |
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| 40 | + | February 22, 2022 |
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| 41 | + | SENATE SPONSORSHIP |
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| 42 | + | Gardner, Cooke, Gonzales, Lee, Moreno, Priola, Smallwood |
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| 43 | + | HOUSE SPONSORSHIP |
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| 44 | + | Soper, Bird, Lynch |
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| 45 | + | Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment. |
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| 46 | + | Capital letters or bold & italic numbers indicate new material to be added to existing statute. |
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| 47 | + | Dashes through the words indicate deletions from existing statute. portion of the estate passes to the decedent's surviving |
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| 48 | + | descendants per capita at each generation; |
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| 49 | + | ! If the decedent is not survived by a descendant but is |
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| 50 | + | survived by one or more parents, the portion of the estate |
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| 51 | + | is divided into as many equal shares as there are surviving |
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| 52 | + | parents and deceased parents with one or more |
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| 53 | + | descendants. One share passes to each surviving parent, |
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| 54 | + | and the balance passes per capita at each generation to the |
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| 55 | + | surviving descendants of the decedent's deceased parents. |
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| 56 | + | ! If the decedent is not survived by a descendant or parent |
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| 57 | + | but is survived by one or more descendants of a parent, the |
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| 58 | + | portion of the estate passes per capita at each generation to |
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| 59 | + | the surviving descendants of the decedent's deceased |
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| 60 | + | parents; or |
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| 61 | + | ! If a decedent is not survived by a descendant, parent, or |
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| 62 | + | descendant of a parent but is survived by one or more |
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| 63 | + | grandparents, the portion of the estate is divided into as |
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| 64 | + | many equal shares as there are surviving grandparents and |
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| 65 | + | deceased grandparents with one or more surviving |
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| 66 | + | descendants. One share passes to each surviving |
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| 67 | + | grandparent, and the balance passes per capita at each |
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| 68 | + | generation to the surviving descendants of the decedent's |
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| 69 | + | deceased grandparents. |
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| 70 | + | The bill clarifies how the estate passes to surviving descendants of |
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| 71 | + | a deceased parent or grandparent. |
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| 72 | + | The bill replaces outdated terminology in the code with modern |
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| 73 | + | language, including replacing gender-specific language. |
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| 74 | + | Be it enacted by the General Assembly of the State of Colorado:1 |
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| 75 | + | SECTION 1. In Colorado Revised Statutes, 15-11-101, amend2 |
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| 76 | + | (2) as follows:3 |
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| 77 | + | 15-11-101. Intestate estate. (2) A decedent by will may4 |
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| 78 | + | expressly exclude or limit the right of an individual or class to succeed to5 |
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| 79 | + | property of the decedent passing by intestate succession. If that individual6 |
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| 80 | + | or a member of that class survives the decedent, the share of the7 |
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| 81 | + | decedent's intestate estate to which that individual or class would have8 |
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| 82 | + | succeeded passes as if that individual or each member of that class had9 |
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| 83 | + | disclaimed his or her |
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| 84 | + | THE intestate share.10 |
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| 85 | + | 092-2- SECTION 2. In Colorado Revised Statutes, repeal and reenact,1 |
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| 86 | + | with amendments, 15-11-103 as follows:2 |
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| 87 | + | 15-11-103. Share of heirs other than surviving spouse and3 |
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282 | | - | N HEIR INHERITS WITHOUT REGARD TO |
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283 | | - | HOW MANY COMMON ANCESTORS IN THE SAME GENERATION THE HEIR |
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284 | | - | PAGE 6-SENATE BILL 22-092 SHARES WITH THE DECEDENT. |
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285 | | - | SECTION 5. In Colorado Revised Statutes, 15-11-109, amend (1) |
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286 | | - | as follows: |
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287 | | - | 15-11-109. Advancements. (1) If an individual dies intestate as to |
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288 | | - | all or a portion of his or her THE estate, property the decedent gave during |
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289 | | - | the decedent's lifetime to an individual who, at the decedent's death, is an |
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290 | | - | heir is treated as an advancement against the heir's intestate share only if (i) |
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291 | | - | the decedent declared in a contemporaneous writing or the heir |
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292 | | - | acknowledged in writing that the gift is an advancement, or (ii) the |
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293 | | - | decedent's contemporaneous writing or the heir's written acknowledgment |
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294 | | - | otherwise indicates that the gift is to be taken into account in computing the |
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295 | | - | division and distribution of the decedent's intestate estate. |
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296 | | - | SECTION 6. In Colorado Revised Statutes, amend 15-11-113 as |
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297 | | - | follows: |
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298 | | - | 15-11-113. Individual related to decedent through more than |
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299 | | - | one line of relationship. An individual who is related to the decedent |
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300 | | - | through two blood lines |
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301 | | - | MORE THAN ONE LINE of relationship is entitled to |
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302 | | - | only a single share based upon the relationship which would entitle the |
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303 | | - | individual to the larger LARGEST share. THE INDIVIDUAL AND THE |
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304 | | - | INDIVIDUAL |
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305 | | - | 'S DESCENDANTS ARE DEEMED TO HAVE PREDECEASED THE |
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306 | | - | DECEDENT WITH RESPECT TO A LINE OF RELATIONSHIP RESULTING IN A |
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307 | | - | SMALLER SHARE |
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308 | | - | . |
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309 | | - | SECTION 7. In Colorado Revised Statutes, 15-11-114, amend (2) |
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310 | | - | as follows: |
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311 | | - | 15-11-114. Parent barred from inheriting in certain |
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312 | | - | circumstances. (2) For the purpose of intestate succession from or through |
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313 | | - | the deceased child, a parent who is barred from inheriting under this section |
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314 | | - | is treated as if the parent |
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315 | | - | DEEMED TO HAVE predeceased the child. |
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316 | | - | SECTION 8. In Colorado Revised Statutes, 15-11-201, amend (7) |
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317 | | - | and (10)(c) as follows: |
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318 | | - | 15-11-201. Definitions. (7) "Presently exercisable general power |
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319 | | - | of appointment" means a power of appointment under which, at the time in |
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320 | | - | PAGE 7-SENATE BILL 22-092 question, the decedent HELD A POWER TO CREATE A PRESENT OR FUTURE |
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321 | | - | INTEREST IN THE DECEDENT |
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322 | | - | , THE DECEDENT'S CREDITORS, THE DECEDENT'S |
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323 | | - | ESTATE |
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324 | | - | , OR CREDITORS OF THE DECEDENT'S ESTATE, whether or not he or she |
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325 | | - | THE DECEDENT then had the capacity to exercise the power. held a power to |
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326 | | - | create a present or future interest in himself or herself, his or her creditors, |
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327 | | - | his or her estate, or the creditors of his or her estate, and THE TERM includes |
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328 | | - | a power to revoke or invade the principal of a trust or other property |
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329 | | - | arrangement. |
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330 | | - | (10) "Transfer", as it relates to a transfer by or on behalf of the |
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331 | | - | decedent, includes: |
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332 | | - | (c) An exercise, release, or lapse of a presently exercisable general |
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333 | | - | power of appointment that the decedent created in himself or herself and |
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334 | | - | RESERVED OR of a power described in section 15-11-205 (2)(b) that the |
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335 | | - | decedent conferred on a nonadverse party. |
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336 | | - | SECTION 9. In Colorado Revised Statutes, 15-11-302, amend (1), |
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337 | | - | (2) introductory portion, (2)(b), (3), and (4) as follows: |
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338 | | - | 15-11-302. Omitted children. (1) Except as provided in subsection |
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339 | | - | (2) of this section, if a testator fails to provide in his or her will for any of |
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340 | | - | his or her children born or adopted BECOMES A PARENT TO A CHILD after the |
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341 | | - | execution of the |
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342 | | - | TESTATOR'S will AND FAILS TO PROVIDE IN THE WILL FOR |
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343 | | - | THE CHILD |
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344 | | - | , the omitted after-born or after-adopted |
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345 | | - | child receives a share in |
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346 | | - | the estate as follows: |
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347 | | - | (a) If the testator had no child living when he or she THE TESTATOR |
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348 | | - | executed the will, an THE omitted after-born or after-adopted child receives |
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349 | | - | a share in the estate equal in value to that which the child would have |
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350 | | - | received had the testator died intestate, unless the will devised all or |
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351 | | - | substantially all |
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| 301 | + | N HEIR INHERITS WITHOUT REGARD TO8 |
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| 302 | + | HOW MANY COMMON ANCESTORS IN THE SAME GENERATION THE HEIR9 |
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| 303 | + | SHARES WITH THE DECEDENT.10 |
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| 304 | + | SECTION 5. In Colorado Revised Statutes, 15-11-109, amend11 |
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| 305 | + | (1) as follows:12 |
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| 306 | + | 15-11-109. Advancements. (1) If an individual dies intestate as13 |
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| 307 | + | to all or a portion of his or her |
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| 308 | + | THE estate, property the decedent gave14 |
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| 309 | + | during the decedent's lifetime to an individual who, at the decedent's15 |
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| 310 | + | death, is an heir is treated as an advancement against the heir's intestate16 |
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| 311 | + | share only if (i) the decedent declared in a contemporaneous writing or17 |
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| 312 | + | the heir acknowledged in writing that the gift is an advancement, or (ii)18 |
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| 313 | + | the decedent's contemporaneous writing or the heir's written19 |
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| 314 | + | acknowledgment otherwise indicates that the gift is to be taken into20 |
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| 315 | + | account in computing the division and distribution of the decedent's21 |
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| 316 | + | intestate estate.22 |
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| 317 | + | SECTION 6. In Colorado Revised Statutes, amend 15-11-113 as23 |
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| 318 | + | follows:24 |
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| 319 | + | 15-11-113. Individual related to decedent through more than25 |
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| 320 | + | one line of relationship. An individual who is related to the decedent26 |
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| 321 | + | through two blood lines MORE THAN ONE LINE of relationship is entitled27 |
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| 322 | + | 092 |
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| 323 | + | -9- to only a single share based upon the relationship which would entitle the1 |
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| 324 | + | individual to the larger LARGEST share. THE INDIVIDUAL AND THE2 |
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| 325 | + | INDIVIDUAL'S DESCENDANTS ARE DEEMED TO HAVE PREDECEASED THE3 |
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| 326 | + | DECEDENT WITH RESPECT TO A LINE OF RELATIONSHIP RESULTING IN A4 |
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| 327 | + | SMALLER SHARE.5 |
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| 328 | + | SECTION 7. In Colorado Revised Statutes, 15-11-114, amend6 |
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| 329 | + | (2) as follows:7 |
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| 330 | + | 15-11-114. Parent barred from inheriting in certain8 |
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| 331 | + | circumstances. (2) For the purpose of intestate succession from or9 |
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| 332 | + | through the deceased child, a parent who is barred from inheriting under10 |
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| 333 | + | this section is treated as if the parent DEEMED TO HAVE predeceased the11 |
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| 334 | + | child.12 |
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| 335 | + | SECTION 8. In Colorado Revised Statutes, 15-11-201, amend13 |
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| 336 | + | (7) and (10)(c) as follows:14 |
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| 337 | + | 15-11-201. Definitions. (7) "Presently exercisable general power15 |
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| 338 | + | of appointment" means a power of appointment under which, at the time16 |
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| 339 | + | in question, the decedent |
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| 340 | + | HELD A POWER TO CREATE A PRESENT OR FUTURE17 |
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| 341 | + | INTEREST IN THE DECEDENT, THE DECEDENT'S CREDITORS, THE DECEDENT'S18 |
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| 342 | + | ESTATE, OR CREDITORS OF THE DECEDENT'S ESTATE, whether or not he or |
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| 343 | + | 19 |
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| 344 | + | she THE DECEDENT then had the capacity to exercise the power. held a20 |
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| 345 | + | power to create a present or future interest in himself or herself, his or her21 |
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| 346 | + | creditors, his or her estate, or the creditors of his or her estate, and THE22 |
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| 347 | + | TERM includes a power to revoke or invade the principal of a trust or other23 |
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| 348 | + | property arrangement.24 |
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| 349 | + | (10) "Transfer", as it relates to a transfer by or on behalf of the25 |
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| 350 | + | decedent, includes:26 |
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| 351 | + | (c) An exercise, release, or lapse of a presently exercisable general27 |
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| 352 | + | 092 |
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| 353 | + | -10- power of appointment that the decedent created in himself or herself and1 |
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| 354 | + | RESERVED OR of a power described in section 15-11-205 (2)(b) that the2 |
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| 355 | + | decedent conferred on a nonadverse party.3 |
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| 356 | + | SECTION 9. In Colorado Revised Statutes, 15-11-302, amend4 |
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| 357 | + | (1), (2) introductory portion, (2)(b), (3), and (4) as follows:5 |
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| 358 | + | 15-11-302. Omitted children. (1) Except as provided in6 |
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| 359 | + | subsection (2) of this section, if a testator fails to provide in his or her will7 |
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| 360 | + | for any of his or her children born or adopted BECOMES A PARENT TO A8 |
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| 361 | + | CHILD after the execution of the TESTATOR'S will AND FAILS TO PROVIDE9 |
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| 362 | + | IN THE WILL FOR THE CHILD, the omitted after-born or after-adopted child10 |
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| 363 | + | receives a share in the estate as follows:11 |
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| 364 | + | (a) If the testator had no child living when he or she THE12 |
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| 365 | + | TESTATOR executed the will, an THE omitted after-born or after-adopted13 |
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| 366 | + | child receives a share in the estate equal in value to that which the child14 |
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| 367 | + | would have received had the testator died intestate, unless the will15 |
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| 368 | + | devised all or substantially all |
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353 | | - | ANOTHER parent of the omitted |
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354 | | - | child and that other parent survives the testator and is entitled to take under |
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355 | | - | the will. |
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356 | | - | (b) If the testator has one or more children living when he or she |
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357 | | - | THE TESTATOR executed the will, and the will devised property or an interest |
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358 | | - | in property to one or more of the then living children, an THE omitted |
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359 | | - | after-born or after-adopted child is entitled to share in the testator's estate |
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360 | | - | as follows: |
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361 | | - | PAGE 8-SENATE BILL 22-092 (I) The portion of the testator's estate in which the omitted after-born |
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362 | | - | or after-adopted child is entitled to share is limited to devises made to the |
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363 | | - | testator's then living children under the will. |
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364 | | - | (II) The omitted after-born or after-adopted child is entitled to |
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365 | | - | receive the share of the testator's estate, as limited in subparagraph (I) of |
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366 | | - | this paragraph (b) SUBSECTION (1)(b)(I) OF THIS SECTION, that the child |
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367 | | - | would have received had the testator included all omitted after-born and |
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368 | | - | after-adopted children with the children to whom devises were made under |
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369 | | - | the will and had given an equal share of the estate to each child. |
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370 | | - | (III) To the extent feasible, the interest granted an THE omitted |
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371 | | - | after-born or after-adopted child under this section shall MUST be of the |
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372 | | - | same character, whether equitable or legal, present or future, as that devised |
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373 | | - | to the testator's then living children under the will. |
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374 | | - | (IV) In satisfying |
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375 | | - | THE SATISFACTION OF a share provided by this |
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376 | | - | paragraph (b) SUBSECTION (1)(b), devises to the testator's children who were |
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377 | | - | living when the will was executed abate ratably. In abating the devises of |
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378 | | - | the then living children, the court shall preserve to the maximum extent |
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379 | | - | possible the character of the testamentary plan adopted by the testator. |
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380 | | - | (2) Neither paragraph (a) nor (b) of subsection (1) of this section |
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381 | | - | SUBSECTION (1)(a) OF THIS SECTION NOR SUBSECTION (1)(b) OF THIS |
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382 | | - | SECTION |
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383 | | - | applies if: |
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384 | | - | (b) The testator provided for the omitted after-born or after-adoptedchild by transfer outside the will and the intent that the transfer be in lieu of |
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385 | | - | a testamentary provision is shown by the testator's statements or is |
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386 | | - | reasonably inferred from the amount of the transfer or other evidence. |
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387 | | - | (3) If at the time of execution of the will the testator fails to provide |
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388 | | - | in his or her |
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389 | | - | THE will for a living child solely because he or she THE |
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390 | | - | TESTATOR |
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391 | | - | believes the child to be dead, the child is entitled to share in the |
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392 | | - | estate as if the child were an omitted after-born or after-adopted |
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393 | | - | child. |
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394 | | - | (4) In satisfying THE SATISFACTION OF a share provided by |
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395 | | - | paragraph (a) of subsection (1) SUBSECTION (1)(a) of this section, devises |
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396 | | - | made by the will abate under section 15-12-902. |
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397 | | - | PAGE 9-SENATE BILL 22-092 SECTION 10. In Colorado Revised Statutes, 15-11-802, amend (1) |
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398 | | - | as follows: |
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399 | | - | 15-11-802. Effect of divorce, annulment, and decree of |
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400 | | - | separation. (1) An individual who is divorced from the decedent or whose |
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401 | | - | marriage to the decedent has been annulled is not a surviving spouse unless, |
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402 | | - | by virtue of a subsequent marriage, he or she |
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403 | | - | THE INDIVIDUAL is married to |
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404 | | - | the decedent at the time of death. A decree of separation that does not |
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405 | | - | terminate the status of husband and wife |
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406 | | - | MARRIAGE is not a divorce for |
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407 | | - | purposes of this section. |
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408 | | - | SECTION 11. In Colorado Revised Statutes, 15-11-803, amend |
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409 | | - | (1)(e), (2), and (6) as follows: |
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410 | | - | 15-11-803. Effect of homicide on intestate succession, wills, |
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411 | | - | trusts, joint assets, life insurance, and beneficiary designations. |
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412 | | - | (1) Definitions. As used in this section, unless the context otherwise |
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413 | | - | requires: |
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414 | | - | (e) "Revocable", with respect to a disposition, appointment, |
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415 | | - | provision, or nomination, means one under which the decedent, at the time |
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416 | | - | of or immediately before death, was alone empowered, by law or under the |
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417 | | - | governing instrument, to cancel the designation in favor of the killer, |
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418 | | - | whether or not the decedent was then empowered to designate himself or |
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419 | | - | herself THE DECEDENT in place of his or her THE killer and WHETHER or NOT |
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420 | | - | the decedent then had capacity to exercise the power. |
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421 | | - | (2) Forfeiture of statutory benefits. An individual who feloniously |
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422 | | - | kills the decedent forfeits all benefits with respect to the decedent's estate, |
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423 | | - | including an intestate share, an elective-share, an omitted spouse's or child's |
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424 | | - | share, the decedent's homestead exemption under section 38-41-204, |
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425 | | - | C.R.S., |
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426 | | - | exempt property, and a family allowance. If the decedent died |
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427 | | - | intestate, the decedent's intestate estate passes as if the killer disclaimed his |
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428 | | - | or her THE intestate share. |
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429 | | - | (6) Wrongful acquisition of property. A wrongful acquisition of |
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430 | | - | property or interest by a killer not covered by this section shall MUST be |
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431 | | - | treated in accordance with the principle that a killer cannot profit from his |
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432 | | - | or her wrong THE KILLER'S WRONGDOING. |
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433 | | - | PAGE 10-SENATE BILL 22-092 SECTION 12. In Colorado Revised Statutes, 15-11-804, amend |
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434 | | - | (1)(b), (1)(d), (1)(f), and (2)(a) as follows: |
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435 | | - | 15-11-804. Revocation of probate and nonprobate transfers by |
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436 | | - | divorce - no revocation by other changes of circumstances. |
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437 | | - | (1) Definitions. As used in this section, unless the context otherwise |
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438 | | - | requires: |
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439 | | - | (b) "Divorce or annulment" means any divorce or annulment, or any |
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440 | | - | dissolution or declaration of invalidity of a marriage, that would exclude the |
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441 | | - | spouse as a surviving spouse within the meaning of section 15-11-802. A |
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442 | | - | decree of separation that does not terminate the status of husband and wife |
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443 | | - | MARRIAGE is not a divorce for purposes of this section. |
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444 | | - | (d) "Governing instrument" refers to a governing instrument |
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445 | | - | executed by the divorced individual before the divorce or annulment of his |
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446 | | - | or her THE marriage to his or her THE DIVORCED INDIVIDUAL'S former |
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447 | | - | spouse. |
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448 | | - | (f) "Revocable", with respect to a disposition, appointment, |
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449 | | - | provision, or nomination, means one under which the divorced individual, |
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450 | | - | at the time of the divorce or annulment, was alone empowered, by law or |
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451 | | - | under the governing instrument, to cancel the designation in favor of his or |
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452 | | - | her THE DIVORCED INDIVIDUAL'S former spouse or former spouse's relative, |
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453 | | - | whether or not the divorced individual was then empowered to designate |
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454 | | - | himself or herself |
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455 | | - | THE DIVORCED INDIVIDUAL in place of his or her THE |
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456 | | - | DIVORCED INDIVIDUAL |
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457 | | - | 'S former spouse or in place of his or her |
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458 | | - | THE |
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459 | | - | DIVORCED INDIVIDUAL |
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460 | | - | 'S former spouse's relative and whether or not the |
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461 | | - | divorced individual then had the capacity to exercise the power. |
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462 | | - | (2) Revocation upon divorce. Except as provided by the express |
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463 | | - | terms of a governing instrument, a court order, or a contract relating to the |
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464 | | - | division of the marital estate made between the divorced individuals before |
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465 | | - | or after the marriage, divorce, or annulment, the divorce or annulment of a |
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466 | | - | marriage: |
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467 | | - | (a) Revokes any revocable (i) disposition or appointment of property |
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468 | | - | made by a divorced individual to his or her |
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469 | | - | THE DIVORCED INDIVIDUAL'S |
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470 | | - | former spouse in a governing instrument and any disposition or appointment |
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471 | | - | created by law or in a governing instrument to a relative of the divorced |
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472 | | - | PAGE 11-SENATE BILL 22-092 individual's former spouse, (ii) provision in a governing instrument |
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473 | | - | conferring a general or nongeneral power of appointment on the divorced |
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474 | | - | individual's former spouse or on a relative of the divorced individual's |
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475 | | - | former spouse, and (iii) nomination in a governing instrument nominating |
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476 | | - | a divorced individual's former spouse or a relative of the divorced |
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477 | | - | individual's former spouse to serve in any fiduciary or representative |
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478 | | - | capacity, including a personal representative, executor, trustee, conservator, |
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479 | | - | agent, or guardian; and |
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480 | | - | SECTION 13. In Colorado Revised Statutes, 15-12-703, amend |
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481 | | - | (1), (2), and (4) as follows: |
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482 | | - | 15-12-703. General duties - relation and liability to persons |
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483 | | - | interested in estate - duty to search for a designated beneficiary |
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484 | | - | agreement - standing to sue. (1) A personal representative is a fiduciary |
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485 | | - | who shall observe the standards of care applicable to trustees as described |
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486 | | - | by part 8 of article 5 of this title 15. A personal representative has |
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487 | | - | IS UNDER |
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488 | | - | a duty to settle and distribute the estate of the decedent in accordance with the terms of any probated and effective will and this code, and as expeditiously and efficiently as is consistent with the best interests of the estate. A |
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489 | | - | THE personal representative shall use the authority conferred upon |
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490 | | - | him or her by this code, the terms of the will, if any, and any order in |
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491 | | - | proceedings to which he or she THE PERSONAL REPRESENTATIVE is party for |
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492 | | - | the best interests of successors to the estate. |
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493 | | - | (2) A personal representative shall not be surcharged for acts of |
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494 | | - | administration or distribution if the conduct in question was authorized at |
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495 | | - | the time. Subject to other obligations of administration, an informally |
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496 | | - | probated will is authority to administer and distribute the estate according |
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497 | | - | to its terms. An order of appointment of a personal representative, whether |
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498 | | - | issued in informal or formal proceedings, is authority to distribute |
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499 | | - | apparently intestate assets to the heirs of the decedent if, at the time of |
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500 | | - | distribution, the personal representative is not aware of a pending testacy |
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501 | | - | proceeding, a proceeding to vacate an order entered in an earlier testacy |
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502 | | - | proceeding, a formal proceeding questioning his |
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503 | | - | THE PERSONAL |
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504 | | - | REPRESENTATIVE |
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505 | | - | 'S appointment or fitness to continue, or a supervised |
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506 | | - | administration proceeding. Nothing in this section affects |
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507 | | - | THIS SECTION |
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508 | | - | DOES NOT AFFECT |
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509 | | - | the duty of the personal representative to administer and |
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510 | | - | distribute the estate in accordance with the rights of claimants |
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511 | | - | WHOSE |
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512 | | - | CLAIMS HAVE BEEN ALLOWED |
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513 | | - | , the surviving spouse, any minor and |
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514 | | - | PAGE 12-SENATE BILL 22-092 dependent children, and any pretermitted OMITTED child of the decedent AS |
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515 | | - | DESCRIBED ELSEWHERE IN THIS CODE |
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516 | | - | . |
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517 | | - | (4) Except as to proceedings which do not survive the death of the |
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518 | | - | decedent, a personal representative of a decedent domiciled in this state at |
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519 | | - | his |
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520 | | - | death has the same standing to sue and be sued in the courts of this state |
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521 | | - | and the courts of any other jurisdiction as his THE decedent had immediately |
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522 | | - | prior to death. |
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523 | | - | SECTION 14. Act subject to petition - effective date. This act |
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524 | | - | takes effect at 12:01 a.m. on the day following the expiration of the |
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525 | | - | ninety-day period after final adjournment of the general assembly; except |
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526 | | - | that, if a referendum petition is filed pursuant to section 1 (3) of article V |
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527 | | - | of the state constitution against this act or an item, section, or part of this act |
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528 | | - | within such period, then the act, item, section, or part will not take effect |
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529 | | - | unless approved by the people at the general election to be held in |
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530 | | - | PAGE 13-SENATE BILL 22-092 November 2022 and, in such case, will take effect on the date of the official |
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531 | | - | declaration of the vote thereon by the governor. |
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532 | | - | ____________________________ ____________________________ |
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533 | | - | Steve Fenberg Alec Garnett |
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534 | | - | PRESIDENT OF SPEAKER OF THE HOUSE |
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535 | | - | THE SENATE OF REPRESENTATIVES |
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536 | | - | ____________________________ ____________________________ |
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537 | | - | Cindi L. Markwell Robin Jones |
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538 | | - | SECRETARY OF CHIEF CLERK OF THE HOUSE |
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539 | | - | THE SENATE OF REPRESENTATIVES |
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540 | | - | APPROVED________________________________________ |
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541 | | - | (Date and Time) |
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542 | | - | _________________________________________ |
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543 | | - | Jared S. Polis |
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544 | | - | GOVERNOR OF THE STATE OF COLORADO |
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545 | | - | PAGE 14-SENATE BILL 22-092 |
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| 370 | + | ANOTHER parent16 |
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| 371 | + | of the omitted child and that other parent survives the testator and is17 |
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| 372 | + | entitled to take under the will.18 |
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| 373 | + | (b) If the testator has one or more children living when he or she19 |
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| 374 | + | THE TESTATOR executed the will, and the will devised property or an20 |
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| 375 | + | interest in property to one or more of the then living children, an THE21 |
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| 376 | + | omitted after-born or after-adopted child is entitled to share in the22 |
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| 377 | + | testator's estate as follows:23 |
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| 378 | + | (I) The portion of the testator's estate in which the omitted24 |
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| 379 | + | after-born or after-adopted child is entitled to share is limited to devises25 |
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| 380 | + | made to the testator's then living children under the will.26 |
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| 381 | + | (II) The omitted after-born or after-adopted child is entitled to27 |
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| 382 | + | 092 |
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| 383 | + | -11- receive the share of the testator's estate, as limited in subparagraph (I) of1 |
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| 384 | + | this paragraph (b) SUBSECTION (1)(b)(I) OF THIS SECTION, that the child2 |
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| 385 | + | would have received had the testator included all omitted after-born and3 |
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| 386 | + | after-adopted children with the children to whom devises were made4 |
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| 387 | + | under the will and had given an equal share of the estate to each child.5 |
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| 388 | + | (III) To the extent feasible, the interest granted an THE omitted6 |
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| 389 | + | after-born or after-adopted child under this section shall MUST be of the7 |
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| 390 | + | same character, whether equitable or legal, present or future, as that8 |
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| 391 | + | devised to the testator's then living children under the will.9 |
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| 392 | + | (IV) In satisfying THE SATISFACTION OF a share provided by this10 |
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| 393 | + | paragraph (b) SUBSECTION (1)(b), devises to the testator's children who11 |
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| 394 | + | were living when the will was executed abate ratably. In abating the12 |
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| 395 | + | devises of the then living children, the court shall preserve to the13 |
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| 396 | + | maximum extent possible the character of the testamentary plan adopted14 |
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| 397 | + | by the testator.15 |
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| 398 | + | (2) Neither paragraph (a) nor (b) of subsection (1) of this section16 |
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| 399 | + | SUBSECTION (1)(a) OF THIS SECTION NOR SUBSECTION (1)(b) OF THIS17 |
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| 400 | + | SECTION applies if:18 |
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| 401 | + | (b) The testator provided for the omitted after-born or19 |
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| 402 | + | after-adopted child by transfer outside the will and the intent that the20 |
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| 403 | + | transfer be in lieu of a testamentary provision is shown by the testator's21 |
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| 404 | + | statements or is reasonably inferred from the amount of the transfer or22 |
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| 405 | + | other evidence.23 |
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| 406 | + | (3) If at the time of execution of the will the testator fails to24 |
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| 407 | + | provide in his or her THE will for a living child solely because he or she25 |
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| 408 | + | THE TESTATOR believes the child to be dead, the child is entitled to share26 |
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| 409 | + | in the estate as if the child were an omitted after-born or after-adopted27 |
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| 410 | + | 092 |
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| 411 | + | -12- child.1 |
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| 412 | + | (4) In satisfying THE SATISFACTION OF a share provided by2 |
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| 413 | + | paragraph (a) of subsection (1) SUBSECTION (1)(a) of this section, devises3 |
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| 414 | + | made by the will abate under section 15-12-902.4 |
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| 415 | + | SECTION 10. In Colorado Revised Statutes, 15-11-802, amend5 |
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| 416 | + | (1) as follows:6 |
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| 417 | + | 15-11-802. Effect of divorce, annulment, and decree of7 |
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| 418 | + | separation. (1) An individual who is divorced from the decedent or8 |
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| 419 | + | whose marriage to the decedent has been annulled is not a surviving9 |
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| 420 | + | spouse unless, by virtue of a subsequent marriage, he or she THE10 |
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| 421 | + | INDIVIDUAL is married to the decedent at the time of death. A decree of11 |
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| 422 | + | separation that does not terminate the status of husband and wife12 |
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| 423 | + | MARRIAGE is not a divorce for purposes of this section.13 |
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| 424 | + | SECTION 11. In Colorado Revised Statutes, 15-11-803, amend14 |
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| 425 | + | (1)(e), (2), and (6) as follows:15 |
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| 426 | + | 15-11-803. Effect of homicide on intestate succession, wills,16 |
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| 427 | + | trusts, joint assets, life insurance, and beneficiary designations.17 |
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| 428 | + | (1) Definitions. As used in this section, unless the context otherwise18 |
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| 429 | + | requires:19 |
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| 430 | + | (e) "Revocable", with respect to a disposition, appointment,20 |
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| 431 | + | provision, or nomination, means one under which the decedent, at the21 |
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| 432 | + | time of or immediately before death, was alone empowered, by law or22 |
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| 433 | + | under the governing instrument, to cancel the designation in favor of the23 |
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| 434 | + | killer, whether or not the decedent was then empowered to designate24 |
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| 435 | + | himself or herself THE DECEDENT in place of his or her THE killer and25 |
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| 436 | + | WHETHER or NOT the decedent then had capacity to exercise the power.26 |
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| 437 | + | (2) Forfeiture of statutory benefits. An individual who27 |
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| 438 | + | 092 |
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| 439 | + | -13- feloniously kills the decedent forfeits all benefits with respect to the1 |
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| 440 | + | decedent's estate, including an intestate share, an elective-share, an2 |
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| 441 | + | omitted spouse's or child's share, the decedent's homestead exemption3 |
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| 442 | + | under section 38-41-204, C.R.S., exempt property, and a family4 |
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| 443 | + | allowance. If the decedent died intestate, the decedent's intestate estate5 |
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| 444 | + | passes as if the killer disclaimed his or her THE intestate share.6 |
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| 445 | + | (6) Wrongful acquisition of property. A wrongful acquisition7 |
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| 446 | + | of property or interest by a killer not covered by this section shall MUST8 |
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| 447 | + | be treated in accordance with the principle that a killer cannot profit from9 |
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| 448 | + | his or her wrong THE KILLER'S WRONGDOING.10 |
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| 449 | + | SECTION 12. In Colorado Revised Statutes, 15-11-804, amend11 |
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| 450 | + | (1)(b), (1)(d), (1)(f), and (2)(a) as follows:12 |
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| 451 | + | 15-11-804. Revocation of probate and nonprobate transfers by13 |
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| 452 | + | divorce - no revocation by other changes of circumstances.14 |
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| 453 | + | (1) Definitions. As used in this section, unless the context otherwise15 |
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| 454 | + | requires:16 |
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| 455 | + | (b) "Divorce or annulment" means any divorce or annulment, or17 |
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| 456 | + | any dissolution or declaration of invalidity of a marriage, that would18 |
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| 457 | + | exclude the spouse as a surviving spouse within the meaning of section19 |
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| 458 | + | 15-11-802. A decree of separation that does not terminate the status of20 |
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| 459 | + | husband and wife MARRIAGE is not a divorce for purposes of this section.21 |
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| 460 | + | (d) "Governing instrument" refers to a governing instrument22 |
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| 461 | + | executed by the divorced individual before the divorce or annulment of23 |
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| 462 | + | his or her THE marriage to his or her THE DIVORCED INDIVIDUAL'S former24 |
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| 463 | + | spouse.25 |
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| 464 | + | (f) "Revocable", with respect to a disposition, appointment,26 |
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| 465 | + | provision, or nomination, means one under which the divorced individual,27 |
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| 466 | + | 092 |
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| 467 | + | -14- at the time of the divorce or annulment, was alone empowered, by law or1 |
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| 468 | + | under the governing instrument, to cancel the designation in favor of his2 |
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| 469 | + | or her THE DIVORCED INDIVIDUAL'S former spouse or former spouse's3 |
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| 470 | + | relative, whether or not the divorced individual was then empowered to4 |
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| 471 | + | designate himself or herself THE DIVORCED INDIVIDUAL in place of his or5 |
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| 472 | + | her THE DIVORCED INDIVIDUAL'S former spouse or in place of his or her6 |
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| 473 | + | THE DIVORCED INDIVIDUAL'S former spouse's relative and whether or not7 |
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| 474 | + | the divorced individual then had the capacity to exercise the power.8 |
---|
| 475 | + | (2) Revocation upon divorce. Except as provided by the express9 |
---|
| 476 | + | terms of a governing instrument, a court order, or a contract relating to10 |
---|
| 477 | + | the division of the marital estate made between the divorced individuals11 |
---|
| 478 | + | before or after the marriage, divorce, or annulment, the divorce or12 |
---|
| 479 | + | annulment of a marriage:13 |
---|
| 480 | + | (a) Revokes any revocable (i) disposition or appointment of14 |
---|
| 481 | + | property made by a divorced individual to his or her THE DIVORCED15 |
---|
| 482 | + | INDIVIDUAL'S former spouse in a governing instrument and any16 |
---|
| 483 | + | disposition or appointment created by law or in a governing instrument17 |
---|
| 484 | + | to a relative of the divorced individual's former spouse, (ii) provision in18 |
---|
| 485 | + | a governing instrument conferring a general or nongeneral power of19 |
---|
| 486 | + | appointment on the divorced individual's former spouse or on a relative20 |
---|
| 487 | + | of the divorced individual's former spouse, and (iii) nomination in a21 |
---|
| 488 | + | governing instrument nominating a divorced individual's former spouse22 |
---|
| 489 | + | or a relative of the divorced individual's former spouse to serve in any23 |
---|
| 490 | + | fiduciary or representative capacity, including a personal representative,24 |
---|
| 491 | + | executor, trustee, conservator, agent, or guardian; and25 |
---|
| 492 | + | SECTION 13. In Colorado Revised Statutes, 15-12-703, amend26 |
---|
| 493 | + | (1), (2), and (4) as follows:27 |
---|
| 494 | + | 092 |
---|
| 495 | + | -15- 15-12-703. General duties - relation and liability to persons1 |
---|
| 496 | + | interested in estate - duty to search for a designated beneficiary2 |
---|
| 497 | + | agreement - standing to sue. (1) A personal representative is a fiduciary3 |
---|
| 498 | + | who shall observe the standards of care applicable to trustees as described4 |
---|
| 499 | + | by part 8 of article 5 of this title 15. A personal representative has IS5 |
---|
| 500 | + | UNDER a duty to settle and distribute the estate of the decedent in6 |
---|
| 501 | + | accordance with the terms of any probated and effective will and this7 |
---|
| 502 | + | code, and as expeditiously and efficiently as is consistent with the best8 |
---|
| 503 | + | interests of the estate. A THE personal representative shall use the9 |
---|
| 504 | + | authority conferred upon him or her by this code, the terms of the will, if10 |
---|
| 505 | + | any, and any order in proceedings to which he or she THE PERSONAL11 |
---|
| 506 | + | REPRESENTATIVE is party for the best interests of successors to the estate.12 |
---|
| 507 | + | (2) A personal representative shall not be surcharged for acts of13 |
---|
| 508 | + | administration or distribution if the conduct in question was authorized14 |
---|
| 509 | + | at the time. Subject to other obligations of administration, an informally15 |
---|
| 510 | + | probated will is authority to administer and distribute the estate according16 |
---|
| 511 | + | to its terms. An order of appointment of a personal representative,17 |
---|
| 512 | + | whether issued in informal or formal proceedings, is authority to18 |
---|
| 513 | + | distribute apparently intestate assets to the heirs of the decedent if, at the19 |
---|
| 514 | + | time of distribution, the personal representative is not aware of a pending20 |
---|
| 515 | + | testacy proceeding, a proceeding to vacate an order entered in an earlier21 |
---|
| 516 | + | testacy proceeding, a formal proceeding questioning his THE PERSONAL22 |
---|
| 517 | + | REPRESENTATIVE'S appointment or fitness to continue, or a supervised23 |
---|
| 518 | + | administration proceeding. Nothing in this section affects THIS SECTION24 |
---|
| 519 | + | DOES NOT AFFECT the duty of the personal representative to administer25 |
---|
| 520 | + | and distribute the estate in accordance with the rights of claimants |
---|
| 521 | + | WHOSE26 |
---|
| 522 | + | CLAIMS HAVE BEEN ALLOWED , the surviving spouse, any minor and27 |
---|
| 523 | + | 092 |
---|
| 524 | + | -16- dependent children, and any pretermitted OMITTED child of the decedent1 |
---|
| 525 | + | AS DESCRIBED ELSEWHERE IN THIS CODE .2 |
---|
| 526 | + | (4) Except as to proceedings which do not survive the death of the3 |
---|
| 527 | + | decedent, a personal representative of a decedent domiciled in this state4 |
---|
| 528 | + | at his death has the same standing to sue and be sued in the courts of this5 |
---|
| 529 | + | state and the courts of any other jurisdiction as his THE decedent had6 |
---|
| 530 | + | immediately prior to death.7 |
---|
| 531 | + | SECTION 14. Act subject to petition - effective date. This act8 |
---|
| 532 | + | takes effect at 12:01 a.m. on the day following the expiration of the9 |
---|
| 533 | + | ninety-day period after final adjournment of the general assembly; except10 |
---|
| 534 | + | that, if a referendum petition is filed pursuant to section 1 (3) of article V11 |
---|
| 535 | + | of the state constitution against this act or an item, section, or part of this12 |
---|
| 536 | + | act within such period, then the act, item, section, or part will not take13 |
---|
| 537 | + | effect unless approved by the people at the general election to be held in14 |
---|
| 538 | + | November 2022 and, in such case, will take effect on the date of the15 |
---|
| 539 | + | official declaration of the vote thereon by the governor.16 |
---|
| 540 | + | 092 |
---|
| 541 | + | -17- |
---|