
Colorado Personal Representative Form


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People also ask
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What is the most an executor can charge?
The corpus commission is graduated. The executor is entitled to 5% of the first $200,000 of corpus; 3.5% of the excess over $200,000 up to $1,000,000; and 2% of the excess of the corpus over $1,000,000.
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What power does a personal representative have in Colorado?
A personal representative has the following general responsi- bilities: • Collecting and inventorying the assets of the estate; • Managing the assets of the estate during the probate process; • Paying bills, creditors and taxes; • Making distributions to the heirs or devisees of the es- tate; and • Closing the estate ...
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What power does a personal representative have in Colorado?
A personal representative has the following general responsi- bilities: • Collecting and inventorying the assets of the estate; • Managing the assets of the estate during the probate process; • Paying bills, creditors and taxes; • Making distributions to the heirs or devisees of the es- tate; and • Closing the estate ...
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How much can a personal representative charge in Colorado?
There is no explicit rule how much an executor (“personal representative”) of a Colorado estate may charge. “A personal representative is entitled to reasonable compensation for his or her services.” COLO REV STAT § 15-12-719(1).
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What is the statute of personal representative in Colorado?
The personal representative shall pay taxes on and take all steps reasonably necessary for the management, protection, and preservation of the estate in such representative's possession. The personal representative may maintain an action to recover possession of the property or to determine the title thereto.
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How long does a personal representative have to settle an estate in Colorado?
The court may require that the personal representative get approval for every transaction or may allow the personal representative to administer the estate unsupervised. Both informal and formal probates must be open with the court for at least six months, but full administration of the estate may take much longer.
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How to get a personal representative deed in Colorado?
Meet with an Attorney Having a personal representative's deed is an important step in administering an estate and it is a very specific type of deed that should be drafted by an experienced Colorado probate attorney.
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How much can an executor charge in Colorado?
This fee covers the cost of submitting the necessary paperwork to the court. Executor fees: Executors are entitled to reasonable compensation for their services. In Colorado, this amount is generally around 1.5% to 3% of the estate's value. The exact amount can vary based on the complexity and size of the estate.
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