PROBATE, TRUSTS, AND FIDUCIARIES
H.B. 07-1003 Access to decedents' safe deposit boxes - custodial transfers of account assets to a qualified minor's trust - appointment of a conservator of the assets of a missing person - court appointment of a special administrator of an estate. Clarifies the procedure by which bank personnel may open a deceased person's safe deposit box to determine whether the decedent's will or burial instructions are located inside. Protects the bank and bank employees from liability to a person for action or failure to act unless the bank's or employee's action or failure to act resulted from bad faith, gross negligence, or intentional misconduct. Authorizes a custodian of an account created under the "Colorado Uniform Transfers to Minors Act" to transfer account assets to a qualified minor's trust. Authorizes a public administrator to petition a court for appointment to act as a conservator to protect the assets of a missing person when no other person has acted to do so. Authorizes a district court or the probate court, on its own motion, to formally appoint a special administrator when a special administrator is needed for the proper administration of an estate.
APPROVED by Governor March 21, 2007
EFFECTIVE July 1, 2007
|
||||
|
|
||||
The information on this page is presented as an informational service only and should not be relied upon as an official record of action or legal position of the State of Colorado, the Colorado General Assembly, or the Office of Legislative Legal Services.