Personal Representative's Deed of Distribution Colorado Probate Form
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People also ask
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What is a personal representative in Colorado probate Code?
A personal representative has a duty to settle and distribute the estate of the decedent in ance 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. -
What is a personal representative of an estate in Colorado?
A personal representative has many duties, rights, and responsibilities, including the ability to open and maintain an estate bank account, to sell, transfer, or encumber real property, to sell and/or transfer assets, to consolidate bank accounts, and to deal with creditors. -
Who is the personal representative of a deceased in Colorado?
Personal Representative: A person at least 21, resident or non-resident of Colorado, who has been appointed to administer the estate of the Decedent; previously referred to as Executor/Executrix. -
What are the fiduciary duties of a personal representative in Colorado?
A personal representative is under a duty to settle and distribute the estate of the decedent in ance 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. -
What is a personal representative in probate Colorado?
A personal representative has a fiduciary duty to the estate, devisees, heirs, and other interested parties ,including creditors. A personal representative's specific duties included: 1. To act impartial in regards to all parties to the estate. -
Does a beneficiary deed avoid probate in Colorado?
Beneficiary deeds enable real property owners in Colorado to transfer their property to a designated beneficiary upon death without having to go through probate, which may help save time and money in the administration of the estate. -
Does Colorado use personal representative or executor?
Colorado uses the term "personal representative" instead of executor, but the duties are the same. If the decedent died with a will, the will generally names who will act as the personal representative of the decedent's estate. -
Does Colorado allow transfer on death deeds?
A transfer-on-death deed—also called TOD deed or beneficiary deed—is a written instrument that automatically transfers title to real estate to a designated beneficiary effective upon the property owner's death. In 2004, the Colorado Legislature authorized the use of TOD deeds to transfer Colorado real estate.
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