Colorado Code
Part 7 - Duties and Powers of Personal Representatives
§ 15-12-705. Duty of Personal Representative - Information to Heirs and Devisees

Source: L. 73: R&RE, p. 1588, § 1. C.R.S. 1963: § 153-3-705. L. 96: Entire section amended, p. 659, § 11, effective July 1. L. 2008: (1) amended, p. 483, § 5, effective July 1. L. 2010: (1)(g) and (1)(h) amended and (1)(i) added, (SB 10-199), ch. 374, p. 1752, § 15, effective July 1. L. 2011: (1)(i) amended, (SB 11-083), ch. 101, p. 304, § 6, effective August 10. L. 2013: (1) amended and (3) added, (SB 13-077), ch. 190, p. 769, § 4, effective August 7. L. 2015: (1)(i) amended, (SB 15-264), ch. 259, p. 951, § 38, effective August 5.
Cross references: For provisions relating to the time of taking effect or the provisions for transition of this code, see § 15-17-101.
COMMENT
This section requires the personal representative to inform persons who appear to have an interest in the estate as it is being administered, of his appointment. Also, it requires the personal representative to give notice to persons who appear to be disinherited by the assumption concerning testacy under which the personal representative was appointed. The communication involved is not to be confused with the notice requirements relating to litigation. The duty applies even though there may have been a prior testacy proceeding after notice, except that persons who have been adjudicated to be without interest in the estate are excluded. The rights, if any, of persons in regard to estates cannot be cut off completely except by the running of the three year statute of limitations provided in Section 3-108, or by a formal judicial proceeding which will include full notice to all interested persons. The interests of some persons may be shifted from rights to specific property of the decedent to the proceeds from sale thereof, or to rights to values received by distributees. However, such a shift of protected interest from one thing to another, or to funds or obligations, is not new in relation to trust beneficiaries. A personal representative may initiate formal proceedings to determine whether persons, other than those appearing to have interests, may be interested in the estate, under Section 3-401 or, in connection with a formal closing, as provided by Section 3-1001.
No information or notice is required by this section if no personal representative is appointed.
In any circumstance in which a fiduciary accounting is to be prepared, preparation of an accounting in conformity with the Uniform Principles and Model Account Formats promulgated by the National Fiduciary Accounting Project shall be considered as an appropriate manner of presenting a fiduciary account. See ALI-ABA Monograph, Whitman, Brown and Kramer, Fiduciary Accounting Guide (2nd edition 1990).