75CC8B4A2475CAC5872589360074718F Hearing Summary

Shelly Merritt with the Trusts & Estates Section of the CBA, shared that she was on the subcommittee that reviewed the act and provided a redline draft to the commission. The act and the section's amendments have not yet received the approval of the other bar sections, so there could yet be additional changes requested. This act is an update of the 1973 uniform act and is deemed to be necessary to address community property held in trust or disposed of by nonprobate assets and to recognize same sex marriages in several states. The subcommittee has spent several months reviewing the act compared to the statutes and are suggesting relatively minor changes. Specifically changes to Colorado Revised Statutes sections 15-20-103 and 15-20-106 regarding community property, in 15-20-108 regarding the time period for claims, 15-20-109 regarding personal representatives, in 15-20-110 regarding fiduciary protection, and some conforming amendments.

The commission briefly discussed the need for an effective date or a safety clause. It was decided that neither was needed. The commission thanked the witness and the section for its hard work and for the redline draft provided.

The act was moved to introduction at the December meeting. Commission consensus was to incorporate the Trust & Estate section's amendments into the commission bill and the act will be introduced in the Senate as a commission bill.