(1) Any interested person may file a verified petition for the distribution without administration of the estate of a person under disability under the provisions of this section.
(2) The petition must state, so far as known to petitioner:
The name, date of birth, county, and state of residence of the person under disability;
If the person under disability is a nonresident of the state, that he or she has a chosein action or other personal property within the county which must be conserved and has no guardian or conservator determined to be appointed by any court;
The date upon which and the court by which the person under disability was adjudged as having a behavioral or mental health disorder, an intellectual and developmental disability, or other incapacitating disability;
The description and value of each chose in action or other personal property ownedby the person under disability and subject to administration as a part of his or her estate;
The name, address, relationship, and date of birth, if a minor, of each person whowould inherit the estate of the person under disability if the person under disability were then deceased;
The name and address of each person who would have a claim against the estate if theestate were to be administered and the amount of any such claim;
The name and address of any person or institution having the care and custody of theperson under disability and the post-office address of the person under disability.
The court may hear such petition without notice or upon such notice as the court maydirect.
If the court finds that the total personal estate of the person under disability subject toadministration is ten thousand dollars, or less, that no conservator for the estate has been appointed, and that no useful purpose would be served by the appointment of a conservator, the court may order the personal estate be distributed without the appointment of a conservator as provided in this section.
The court shall direct the distribution of said personal estate as the court finds theestate would be distributed in case of administration, the claimants being first paid in the order of the class of their claims. The court may order the distribution of any surplus to the person under disability, to the guardian or conservator of person under disability, if the court has appointed a guardian or conservator or to the next friend appointed by the court, or as otherwise provided by law for the distribution of property to persons under legal disability. If distribution to a next friend is ordered, the court, in its order, may attach such conditions regarding bond, reports to the court, and otherwise as it may deem proper.
The order of court shall constitute sufficient legal authority to any person owing anymoney, having custody of any property, or acting as a registrar or transfer agent of any evidence of interest, indebtedness, property, or right belonging to the estate, and to persons purchasing or otherwise dealing with the estate, for payment or transfer to the persons described in the order as entitled to receive the estate without administration.
Anytime within thirty-five days after the making of an order pursuant to this section,any person interested in the estate may file a petition to revoke the same, alleging that other personal property was not included in the petition or that the property described in the petition was improperly valued, and that if said property were added, included, or properly valued as the case may be, the total value of the personal property would exceed ten thousand dollars, or that the order ordered money paid or property distributed to a person not entitled thereto. Upon proof of any such grounds, the court shall revoke the order and enter a more appropriate order, but the revocation or modification of such order shall not impose any liability upon any person who, in reliance upon such order, in good faith, for value, and without notice, paid money or delivered property, or impair the rights of any person who, in reliance on such order, in good faith, for value, and without notice, purchased property or acquired a lien on property.
If a next friend shall be named to enter into the settlement of a claim of a personunder disability against another person for personal injury to the person under disability or for injury to his or her property and the entire net value of the personal estate of the person under disability, including the proposed settlement, after providing for expenses of settlement, is ten thousand dollars or less, such proceeding for approval of the settlement by the court may be had in connection with the petition for the disposition of the estate of the person under disability, including the proceeds of the settlement, under this section, and the court may proceed with the settlement as though a legal guardian or conservator had been appointed and may distribute the net proceeds of the settlement under the provisions of this section. The next friend named may execute releases with the same effect as though they had been executed by a duly appointed legal guardian or conservator.
For purposes of this section, "person under disability" means a person for whom aprotective proceeding could be instituted.
Source: L. 2000: Entire part R&RE, p. 1784, § 1, effective January 1, 2001 (see § 15-17103). L. 2006: (2)(c) amended, p. 1397, § 40, effective August 7. L. 2012: (7) amended, (SB 12175), ch. 208, p. 839, § 49, effective July 1. L. 2017: IP(2) and (2)(c) amended, (HB 17-1046), ch. 50, p. 157, § 8, effective March 16; (2)(c) amended, (SB 17-242), ch. 263, p. 1296, § 116, effective May 25.
Editor's note: This section is similar to former § 15-14-107 as it existed prior to 2001.
Cross references: For the legislative declaration in SB 17-242, see section 1 of chapter 263, Session Laws of Colorado 2017.