Bill Summary for Bill Number SB13-077

Date: 03/21/2013

Final
BILL SUMMARY for SB13-077

HOUSE COMMITTEE ON JUDICIARY

Votes: View-->	Action Taken:
Refer Senate Bill 13-077 to the Committee of the W	PASS

01:56 PM -- Senate Bill 13-077

Representative Pabon, sponsor, presented Senate Bill 13-077. The reengrossed bill modifies probate proceedings in the areas of testimony, personal representatives, and roles and responsibilities of trustees. Specifically, the bill:

clarifies circumstances under which someone can testify regarding an oral statement of a person incapable of testifying;

clarifies who may ascertain the testator’s probable intent or estate planning purpose on issues involving the decedent’s estate;

requires a personal representative to solicit any individual who has knowledge that there is a valid, unrevoked designated beneficiary agreement in which the decedent granted the right of intestate succession to give written notice of such knowledge to the personal representative;

adds child support claims of the decedent that were due and unpaid at death, and any future child support obligations of the decedent as determined by the court, to the classification of claims to be paid;

adds personal property, including funds on deposit at any financial institution, to assets eligible for collection by affidavit;

clarifies the process for preserving assets for individuals who are dependent upon the respondent while a petition for conservatorship or a protective order are pending;

clarifies the circumstances under which a respondent's alleged impairment may be evaluated;

clarifies the process available to a conservator when payment of claims would substantially deplete the estate and leave the estate with insufficient funds to pay the protected person's basic living and health expenses;

gives a trustee the discretionary authority to reimburse the grantor for payment of the income taxes attributable to the trust;

allows a trustee to acquire or retain as a trust asset a life insurance policy on the life of a person for whom the trustee has an insurable interest;

adds a new Part 7 to Article 16 of Title 15 of the Colorado Revised Statutes, concerning revocable trusts; and

clarifies the applicability of the effective date of the Colorado probate code to conform to the Uniform Probate Code.

02:05 PM -- Marc Darling, representing the Trusts and Estates Section of the Colorado Bar Association, testified in support of the bill. Mr. Darling explained each section of the bill in detail. He responded to questions from the committee.

02:15 PM

Representative Pabon responded to questions from the committee about the changes made to the bill in the Senate.


BILL:	SB13-077
TIME:	02:17:59 PM
MOVED:	Court
MOTION:	Refer Senate Bill 13-077 to the Committee of the Whole. The motion passed on a vote of 9-0, with 2 excused.
SECONDED:	Salazar
		VOTE
	Buckner	Yes
	Court	Yes
	Gardner	Yes
	Lawrence	Yes
	McLachlan	Excused
	Murray	Yes
	Pettersen	Yes
	Salazar	Yes
	Wright	Yes
	Lee	Excused
	Kagan	Yes

Final YES: 9 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS