Text of CO SB 199 (2010)

Second Regular Session Sixty-seventh General Assembly STATE OF COLORADO INTRODUCED LLS NO. 10-1050.01 Richard Sweetman SENATE BILL 10-199 Senate Committees House Committees Judiciary A BILL FOR AN ACT CONCERNING CLARIFYING REVISIONS TO CERTAIN PROVISIONS OF THE 101 COLORADO PROBATE CODE. 102 Bill Summary (Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://www.leg.state.co.us/billsummaries.) The bill requires the revisor of statutes to include in the publication of the "Colorado Probate Code" as nonstatutory matter, following each amended or added section, the full text of the official comments to that section contained in the 2008 official text of "Amendments to Uniform Probate Code" issued by the national conference of commissioners on SENATE SPONSORSHIP Carroll M., HOUSE SPONSORSHIP Court, Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment. Capital letters indicate new material to be added to existing statute. Dashes through the words indicate deletions from existing statute. uniform state laws, with any changes in the official comments or Colorado comments to correspond to Colorado changes in the uniform probate code. The bill requires cost-of-living adjustments of certain dollar amounts to be rounded to one-thousand-dollar increments, rather than one-hundred-dollar increments, for purposes of the Colorado probate code. The bill provides that a "will" does not include a designated beneficiary agreement for purposes of the Colorado probate code. The bill removes statutory language awarding a part or all of an intestate estate to a designated beneficiary who was designated by the decedent to be his or her designated beneficiary for purposes of intestate succession. The bill adds new statutory language concerning the rights of a designated beneficiary to receive all or part of an intestate estate. The bill removes statutory language awarding a share of an intestate estate for a decedent's stepchildren when there are no blood relatives of the decedent available to receive an intestate share. A child who is in the process of being adopted by a second adult in a second-parent adoption when the second adult dies is treated as adopted by the second adult if the child's parent survives the second adult by 120 hours. The bill reduces the degree of evidence required to overcome a presumption that a deceased spouse has a parent-child relationship with a child born using assisted reproduction technologies. The bill revises the scope of the rules of construction applicable to wills and other governing instruments to specify that new class gift rules apply only to documents executed or re-published on or after the effective date of the applicable statute. Terms of relationship in a governing instrument that do not differentiate relationships by blood from those by marriage, such as uncles, aunts, nieces, or nephews, are construed to exclude relatives by marriage. A personal representative is protected from potential surcharges and liability as a result of the personal representative making distributions of assets without knowledge that an individual intends or may intend to use a decedent's genetic material to create a child and that the birth of such a child would affect the asset distribution formula. The bill amends the effective date-applicability clause of House Bill 09-1287, enacted in 2009. Be it enacted by the General Assembly of the State of Colorado: 1 SECTION 1. 2-5-102, Colorado Revised Statutes, is amended BY 2 SB10-199 -2- THE ADDITION OF A NEW SUBSECTION to read: 1 2-5-102. Inclusions - nonstatutory. (11) ON AND AFTER JULY 2 1, 2010, THERE SHALL BE INCLUDED IN THE PUBLICATION OF THE 3 "COLORADO PROBATE CODE" AS NONSTATUTORY MATTER, FOLLOWING 4 EACH AMENDED OR ADDED SECTION, THE FULL TEXT OF THE OFFICIAL 5 COMMENTS TO THAT SECTION CONTAINED IN THE 2008 OFFICIAL TEXT OF 6 "AMENDMENTS TO UNIFORM PROBATE CODE" ISSUED BY THE NATIONAL 7 CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS, WITH ANY 8 CHANGES IN THE OFFICIAL COMMENTS OR COLORADO COMMENTS TO 9 CORRESPOND TO COLORADO CHANGES IN THE "UNIFORM PROBATE CODE". 10 THE COMMENTS SHALL BE PREPARED BY THE REVISOR OF STATUTES AND 11 APPROVED FOR PUBLICATION BY THE COMMITTEE ON LEGAL SERVICES. 12 SECTION 2. 15-10-112 (1) (b), (2), and (3), Colorado Revised 13 Statutes, as they will become effective July 1, 2010, are amended to read: 14 15-10-112. Cost of living adjustment of certain dollar 15 amounts. (1) As used in this section, unless the context otherwise 16 requires: 17 (b) "Reference base index" means the CPI for the calendar year 18 2009 2010. 19 (2) The dollar amounts stated in sections 15-11-102, 15-11-201 20 (2), 15-11-403, and 15-11-405, AND 15-12-1201 apply to the estate of a 21 decedent who died during or after 2010, but for the estate of a decedent 22 who died after 2011, these dollar amounts must be increased or decreased 23 if the CPI for the calendar year immediately preceding the year of death 24 exceeds or is less than the reference base index. The amount of any 25 increase or decrease is computed by multiplying each dollar amount by 26 the percentage by which the CPI for the calendar year immediately 27 SB10-199 -3- preceding the year of death exceeds or is less than the reference base 1 index. If any THE AMOUNT OF THE increase or decrease produced by the 2 computation is not a multiple of one hundred THOUSAND dollars, THEN the 3 AMOUNT OF THE increase or decrease is rounded down if IT IS an increase, 4 or ROUNDED up if IT IS a decrease, to the next multiple of one hundred 5 THOUSAND dollars, but for the purpose of section 15-11-405, the periodic 6 installment amount is the lump-sum amount divided by twelve. If the CPI 7 for 2009 2010 is changed by the bureau of labor statistics, the reference 8 base index must be revised using the rebasing factor reported by the 9 bureau of labor statistics, or other comparable data if a rebasing factor is 10 not reported. 11 (3) Before February 1, 2011 FEBRUARY 1, 2012, and before 12 February 1 of each succeeding year, the department of revenue shall 13 publish a cumulative list, beginning with the dollar amounts effective for 14 the estate of a decedent who died in 2011 2012 of each dollar amount as 15 increased or decreased under this section. 16 SECTION 3. 15-10-201 (59), Colorado Revised Statutes, is 17 amended to read: 18 15-10-201. General definitions. Subject to additional definitions 19 contained in the subsequent articles that are applicable to specific articles, 20 parts, or sections, and unless the context otherwise requires, in this code: 21 (59) "Will" includes any codicil and any testamentary instrument 22 that merely appoints an executor, revokes or revises another will, 23 nominates a guardian, or expressly excludes or limits the right of an 24 individual or class to succeed to property of the decedent passing by 25 intestate succession. "WILL" DOES NOT INCLUDE A DESIGNATED 26 BENEFICIARY AGREEMENT THAT IS EXECUTED PURSUANT TO ARTICLE 22 27 SB10-199 -4- OF THIS TITLE. 1 SECTION 4. Part 1 of article 11 of title 15, Colorado Revised 2 Statutes, is amended BY THE ADDITION OF A NEW SECTION to 3 read: 4 15-11-102.5. Share of designated beneficiary. (1) IF THE 5 DECEDENT IS SURVIVED BY A PERSON WITH THE RIGHT TO INHERIT REAL OR 6 PERSONAL PROPERTY FROM THE DECEDENT IN A DESIGNATED BENEFICIARY 7 AGREEMENT EXECUTED PURSUANT TO ARTICLE 22 OF THIS TITLE, THE 8 INTESTATE SHARE OF THE DECEDENT'S DESIGNATED BENEFICIARY IS: 9 (a) THE ENTIRE ESTATE IF NO DESCENDENT OF THE DECEDENT 10 SURVIVES THE DECEDENT; OR 11 (b) ONE HALF OF THE INTESTATE ESTATE IF ONE OR MORE 12 DESCENDANTS OF THE DECEDENT SURVIVE THE DECEDENT. 13 SECTION 5. The introductory portion to 15-11-103 and 14 15-11-103 (1) and (7), Colorado Revised Statutes, as they will become 15 effective July 1, 2010, are amended to read: 16 15-11-103. Share of heirs other than surviving spouse and 17 designated beneficiary. Any part of the intestate estate not passing to 18 the decedent's surviving spouse under section 15-11-102, OR TO THE 19 DECEDENT'S SURVIVING DESIGNATED BENEFICIARY UNDER SECTION 20 15-11-102.5, or the entire intestate estate if there is no surviving spouse 21 AND NO SURVIVING DESIGNATED BENEFICIARY WITH THE RIGHT TO INHERIT 22 REAL OR PERSONAL PROPERTY FROM THE DECEDENT THROUGH INTESTATE 23 SUCCESSION, passes in the following order to the individuals who survive 24 the decedent: 25 (1) To a designated beneficiary who was designated by the 26 decedent to be his or her designated beneficiary for purposes of intestate 27 SB10-199 -5- succession pursuant to a designated beneficiary agreement that has been 1 executed and recorded with a county clerk and recorder as provided in 2 article 22 of this title; except that, if the decedent has surviving children, 3 then the designated beneficiary shall receive one-half of the intestate 4 estate and the surviving children shall receive one-half of the intestate 5 estate; 6 (7) If there is no taker under subsections (1) to (6) of this section, 7 but the decedent has: 8 (a) One deceased spouse who has one or more descendants who 9 survive the decedent, the estate or part thereof passes to that spouse's 10 descendants per capita at each generation; or 11 (b) More than one deceased spouse who has one or more 12 descendants who survive the decedent, an equal share of the estate or part 13 thereof passes to each set of descendants per capita at each generation. 14 SECTION 6. 15-11-118 (3), Colorado Revised Statutes, as it will 15 become effective July 1, 2010, is amended, and the said 15-11-118, as it 16 will become effective July 1, 2010, is further amended BY THE 17 ADDITION OF A NEW SUBSECTION, to read: 18 15-11-118. Adoptee and adoptee's adoptive parent or parents. 19 (2.5) Individual in process of being adopted by second parent. FOR 20 PURPOSES OF SUBSECTION (1) OF THIS SECTION, A CHILD WHO IS IN THE 21 PROCESS OF BEING ADOPTED BY A SECOND ADULT IN A SECOND-PARENT 22 ADOPTION WHEN THE SECOND ADULT DIES IS TREATED AS ADOPTED BY THE 23 SECOND ADULT IF THE CHILD'S PARENT SURVIVES THE SECOND ADULT BY 24 ONE HUNDRED TWENTY HOURS. 25 (3) Child of assisted reproduction or gestational child in 26 process of being adopted. If, after a parent-child relationship is 27 SB10-199 -6- established between a child of assisted reproduction and a parent under 1 section 15-11-120 or between a gestational child and a parent under 2 section 15-11-121, the child is in the process of being adopted by the 3 parent's spouse OR ANOTHER INDIVIDUAL when that spouse OR INDIVIDUAL 4 dies, the child is treated as adopted by the deceased spouse OR 5 INDIVIDUAL for the purpose of paragraph (b) of subsection (2) of this 6 section. 7 SECTION 7. 15-11-119 (2.5) (a) and (2.5) (b), Colorado Revised 8 Statutes, as they will become effective July 1, 2010, are amended to read: 9 15-11-119. Adoptee and adoptee's genetic parents. (2.5) Child 10 of a second-parent adoption. A parent-child relationship exists between 11 an individual who is adopted by a second parent and: 12 (a) The A genetic parent who consented to a second-parent 13 adoption; and 14 (b) The other ANOTHER genetic parent WHO IS NOT A THIRD-PARTY 15 DONOR, but only for the purpose of the right of the adoptee or a 16 descendant of the adoptee to inherit from or through the other genetic 17 parent. 18 SECTION 8. 15-11-120 (8), Colorado Revised Statutes, as it will 19 become effective July 1, 2010, is amended to read: 20 15-11-120. Child conceived by assisted reproduction other 21 than child born to gestational carrier. (8) Presumption - birth 22 mother is married or surviving spouse. For the purpose of paragraph 23 (b) of subsection (6) of this section, the following rules apply: 24 (a) If the birth mother is married AT THE TIME OF CONCEPTION and 25 no divorce proceeding is THEN pending, in the absence of clear and 26 convincing evidence to the contrary, her spouse satisfies IS PRESUMED TO 27 SB10-199 -7- SATISFY the requirements of subparagraph (I) or (II) of paragraph (b) of 1 subsection (6) of this section. 2 (b) If the birth mother is a surviving spouse and at her deceased 3 spouse's death no divorce proceeding was pending, in the absence of clear 4 and convincing evidence to the contrary, her deceased spouse satisfies IS 5 PRESUMED TO SATISFY the requirements of subparagraph (II) or (III) of 6 paragraph (b) of subsection (6) of this section. 7 SECTION 9. 15-11-502, Colorado Revised Statutes, is amended 8 BY THE ADDITION OF A NEW SUBSECTION to read: 9 15-11-502. Execution - witnessed or notarized wills - 10 holographic wills. (5) FOR PURPOSES OF THIS PART 5, "WILL" DOES NOT 11 INCLUDE A DESIGNATED BENEFICIARY AGREEMENT THAT IS EXECUTED 12 PURSUANT TO ARTICLE 22 OF THIS TITLE. 13 SECTION 10. 15-11-503, Colorado Revised Statutes, is amended 14 BY THE ADDITION OF A NEW SUBSECTION to read: 15 15-11-503. Writings intended as wills. (4) SUBSECTION (1) OF 16 THIS SECTION SHALL NOT APPLY TO A DESIGNATED BENEFICIARY 17 AGREEMENT UNDER ARTICLE 22 OF THIS TITLE. 18 SECTION 11. 15-11-701 (1), Colorado Revised Statutes, is 19 amended, and the said 15-11-701 is further amended BY THE 20 ADDITION OF A NEW SUBSECTION, to read: 21 15-11-701. Scope. For the purposes of this part 7, the term 22 "governing instrument" shall be as defined in section 15-10-201 (22); 23 except: 24 (1) "Governing instrument" shall not include a deed which THAT 25 transfers any interest in real property; however, section 15-11-712 shall 26 apply to such deeds. and 27 SB10-199 -8- (3) IN THE ABSENCE OF A FINDING OF A CONTRARY INTENTION, THE 1 RULES OF CONSTRUCTION IN SECTION 15-11-705 APPLY TO A GOVERNING 2 INSTRUMENT EXECUTED OR REPUBLISHED OR REAFFIRMED ON OR AFTER 3 JULY 1, 2010, AND THE RULES OF CONSTRUCTION UNDER SECTION 4 15-11-705, AS IT EXISTED PRIOR TO JULY 1, 2010, APPLY TO A GOVERNING 5 INSTRUMENT EXECUTED PRIOR TO JULY 1, 2010, AND NOT REPUBLISHED OR 6 REAFFIRMED AFTER THAT DATE. 7 SECTION 12. 15-11-705 (3) and (4), Colorado Revised Statutes, 8 as they will become effective July 1, 2010, are amended to read: 9 15-11-705. Class gifts construed to accord with intestate 10 succession. (3) Relatives by marriage. Terms of relationship in a 11 governing instrument that do not differentiate relationships by blood from 12 those by marriage, such as uncles, aunts, nieces, or nephews, are 13 STANDING ALONE SHALL BE construed to exclude relatives by marriage. 14 unless: 15 (a) When the governing instrument was executed, the class was 16 then and foreseeably would be empty; or 17 (b) The language or circumstances otherwise establish that 18 relatives by marriage were intended to be included. 19 (4) Half-blood relatives. Terms of relationship in a governing 20 instrument that do not differentiate relationships by the half blood from 21 those by the whole blood, such as brothers, sisters, nieces, or nephews, 22 are STANDING ALONE SHALL BE construed to include both types of 23 relationships. 24 SECTION 13. 15-12-703, Colorado Revised Statutes, is amended 25 BY THE ADDITION OF A NEW SUBSECTION to read: 26 15-12-703. General duties - relation and liability to persons 27 SB10-199 -9- interested in estate - standing to sue. (3.5) A PERSONAL 1 REPRESENTATIVE SHALL NOT BE SURCHARGED FOR DISTRIBUTIONS MADE 2 THAT DO NOT TAKE INTO CONSIDERATION THE POSSIBLE BIRTH OF A 3 POSTHUMOUSLY CONCEIVED CHILD UNLESS PRIOR TO SUCH DISTRIBUTION: 4 (a) THE PERSONAL REPRESENTATIVE HAS RECEIVED NOTICE OR HAS 5 ACTUAL KNOWLEDGE THAT A PARTY INTENDS TO USE AN INDIVIDUAL'S 6 GENETIC MATERIAL TO CREATE A CHILD OR HAS RECEIVED WRITTEN 7 NOTICE THAT A PARTY MAY INTEND TO USE AN INDIVIDUAL'S GENETIC 8 MATERIAL TO CREATE A CHILD; AND 9 (b) THE BIRTH OF THE CHILD COULD AFFECT THE DISTRIBUTION OF 10 THE DECEDENT'S ESTATE. 11 SECTION 14. 15-12-705 (1) (g) and (1) (h), Colorado Revised 12 Statutes, are amended, and the said 15-12-705 (1) is further amended BY 13 THE ADDITION OF A NEW PARAGRAPH, to read: 14 15-12-705. Duty of personal representative - information to 15 heirs and devisees. (1) Not later than thirty days after appointment, 16 every personal representative, except any special administrator, shall give 17 information of his or her appointment to the heirs and devisees, including, 18 if there has been no formal testacy proceeding and if the personal 19 representative was appointed on the assumption that the decedent died 20 intestate, the devisees in any will mentioned in the application for 21 appointment of a personal representative. The information shall be 22 delivered or sent by ordinary mail to each of the heirs and devisees whose 23 address is reasonably available to the personal representative. The duty 24 does not extend to require information to persons who have been 25 adjudicated in a prior formal testacy proceeding to have no interest in the 26 estate. The information shall: 27 SB10-199 -10- (g) Indicate that, because a court will not routinely review or 1 adjudicate matters unless it is specifically requested to do so by a 2 beneficiary, creditor, or other interested person, all interested persons, 3 including beneficiaries and creditors, have the responsibility to protect 4 their own rights and interests in the estate in the manner provided by the 5 provisions of this code by filing an appropriate pleading with the court by 6 which the estate is being administered and serving it on all interested 7 persons pursuant to section 15-10-401; and 8 (h) Indicate that all interested parties have the right to obtain 9 information about the estate by filing a demand for notice pursuant to 10 section 15-12-204; AND 11 (i) INDICATE THAT ANY PERSON WHO HAS KNOWLEDGE THAT A 12 PARTY INTENDS OR MAY INTEND TO USE AN INDIVIDUAL'S GENETIC 13 MATERIAL TO CREATE A CHILD AND THAT THE BIRTH OF THE CHILD COULD 14 AFFECT THE DISTRIBUTION OF THE DECEDENT'S ESTATE SHOULD GIVE 15 WRITTEN NOTICE OF SUCH KNOWLEDGE TO THE PERSONAL 16 REPRESENTATIVE OF THE DECEDENT'S ESTATE. 17 SECTION 15. 15-12-808, Colorado Revised Statutes, is amended 18 BY THE ADDITION OF A NEW SUBSECTION to read: 19 15-12-808. Individual liability of personal representative. 20 (5) A PERSONAL REPRESENTATIVE IS NOT INDIVIDUALLY LIABLE FOR 21 MAKING DISTRIBUTIONS THAT DO NOT TAKE INTO CONSIDERATION THE 22 POSSIBLE BIRTH OF A POSTHUMOUSLY CONCEIVED CHILD IF THE PERSONAL 23 REPRESENTATIVE MADE THE DISTRIBUTION PRIOR TO RECEIVING NOTICE OR 24 ACQUIRING ACTUAL KNOWLEDGE THAT: 25 (a) A PARTY INTENDS OR MAY INTEND TO USE AN INDIVIDUAL'S 26 GENETIC MATERIAL TO CREATE A CHILD; AND 27 SB10-199 -11- (b) THE BIRTH OF THE CHILD COULD AFFECT THE DISTRIBUTION OF 1 THE DECEDENT'S ESTATE. 2 SECTION 16. 15-16-306, Colorado Revised Statutes, is amended 3 BY THE ADDITION OF A NEW SUBSECTION to read: 4 15-16-306. Personal liability of trustee to third parties. (7) A 5 TRUSTEE IS NOT PERSONALLY LIABLE FOR MAKING DISTRIBUTIONS OF 6 PROPERTY THAT DO NOT TAKE INTO CONSIDERATION THE POSSIBLE BIRTH 7 OF A POSTHUMOUSLY CONCEIVED CHILD UNLESS, PRIOR TO THE 8 DISTRIBUTION, THE PERSONAL REPRESENTATIVE RECEIVED NOTICE OR 9 ACQUIRED ACTUAL KNOWLEDGE THAT: 10 (a) A PARTY INTENDS OR MAY INTEND TO USE AN INDIVIDUAL'S 11 GENETIC MATERIAL TO CREATE A CHILD; AND 12 (b) THE BIRTH OF THE CHILD COULD AFFECT THE DISTRIBUTION OF 13 THE TRUST ASSETS. 14 SECTION 17. Section 17 of chapter 310, Session Laws of 15 Colorado 2009, is amended to read: 16 Section 17. Effective date - applicability. (1) This act takes 17 effect on July 1, 2010. 18 (2) This act applies on or after July 1, 2010, to: 19 (a) Governing instruments executed by decedents dying on or after 20 July 1, 2010; AND 21 (b) Any proceedings in court then pending or thereafter 22 commenced regardless of the time of death of the decedent except to the 23 extent that, in the opinion of the court, the former procedure STATUTE 24 should be made applicable in a particular case in the interest of justice or 25 because of infeasibility of application of the procedure of the "Colorado 26 Probate Code", articles 10 to 17 of title 15, Colorado Revised Statutes A 27 SB10-199 -12- PROVISION OF THIS ACT. 1 (c) An act done before the effective date of this act in any 2 proceeding and any accrued right is not impaired by this act. If a right is 3 acquired, extinguished, or barred upon the expiration of a prescribed 4 period of time which has commenced to run by the provisions of any 5 statute before the effective date of this act, the provisions shall remain in 6 force with respect to that right; and 7 (d) Any rule of construction or presumption provided in this act 8 applies to governing instruments executed before the effective date of this 9 act unless there is a clear indication of a contrary intent. 10 (3) THIS ACT SHALL NOT APPLY TO: 11 (a) AN ACTION PERFORMED BEFORE THE EFFECTIVE DATE OF THIS 12 ACT IN ANY PROCEEDING; 13 (b) AN ACCRUED RIGHT; 14 (c) A RIGHT THAT IS ACQUIRED, EXTINGUISHED, OR BARRED UPON 15 THE EXPIRATION OF A PRESCRIBED PERIOD OF TIME THAT HAS COMMENCED 16 TO RUN BY THE PROVISIONS OF ANY STATUTE BEFORE JULY 1, 2010; OR 17 (d) A PROVISION OF A GOVERNING INSTRUMENT THAT WAS 18 EXECUTED BEFORE JULY 1, 2010, AND INCLUDES A CLEAR INDICATION OF 19 A CONTRARY INTENT. 20 SECTION 18. Specified effective date - applicability. (1) This 21 act shall take effect July 1, 2010. 22 (2) This act shall apply to: 23 (a) Governing instruments executed by decedents who die on or 24 after July 1, 2010; and 25 (b) Any proceeding in court then pending or thereafter 26 commenced regardless of the time of death of the decedent except to the 27 SB10-199 -13- extent that, in the opinion of the court, the former statute should be made 1 applicable in a particular case in the interest of justice or because of 2 infeasibility of application of a provision of this act. 3 (3) This act shall not apply to: 4 (a) An action performed before the effective date of this act in any 5 proceeding; 6 (b) An accrued right; 7 (c) A right that is acquired, extinguished, or barred upon the 8 expiration of a prescribed period of time that has commenced to run by 9 the provisions of any statute before July 1, 2010; or 10 (d) A provision of a governing instrument that was executed 11 before July 1, 2010, and includes a clear indication of a contrary intent. 12 SECTION 19. Safety clause. The general assembly hereby finds, 13 determines, and declares that this act is necessary for the immediate 14 preservation of the public peace, health, and safety. 15 SB10-199 -14-

SENATE BILL 10-199 BY SENATOR(S) Carroll M., Steadman; also REPRESENTATIVE(S) Court. CONCERNING CLARIFYING REVISIONS TO CERTAIN PROVISIONS OF THE COLORADO PROBATE CODE. Be it enacted by the General Assembly of the State of Colorado: SECTION 1. 2-5-102, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SUBSECTION to read: 2-5-102. Inclusions - nonstatutory. (11) THERE SHALL BE INCLUDED IN THE PUBLICATION OF THE "COLORADO PROBATE CODE" AS NONSTATUTORY MATTER, FOLLOWING EACH AMENDED OR ADDED SECTION, THE FULL TEXT OF THE OFFICIAL COMMENTS TO THAT SECTION CONTAINED IN THE 2008 OFFICIAL TEXT OF "AMENDMENTS TO UNIFORM PROBATE CODE" ISSUED BY THE NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS, WITH ANY CHANGES IN THE OFFICIAL COMMENTS TO CORRESPOND TO COLORADO CHANGES IN THE "UNIFORM PROBATE CODE". THE COMMENTS SHALL BE PREPARED BY THE REVISOR OF STATUTES AND APPROVED FOR PUBLICATION BY THE COMMITTEE ON LEGAL SERVICES. SECTION 2. 15-10-112 (1) (b), (2), and (3), Colorado Revised NOTE: This bill has been prepared for the signature of the appropriate legislative officers and the Governor. To determine whether the Governor has signed the bill or taken other action on it, please consult the legislative status sheet, the legislative history, or the Session Laws. ________ Capital letters indicate new material added to existing statutes; dashes through words indicate deletions from existing statutes and such material not part of act. Statutes, as they will become effective July 1, 2010, are amended to read: 15-10-112. Cost of living adjustment of certain dollar amounts. (1) As used in this section, unless the context otherwise requires: (b) "Reference base index" means the CPI for the calendar year 2009 2010. (2) The dollar amounts stated in sections 15-11-102, 15-11-201 (2), 15-11-403, and 15-11-405, AND 15-12-1201 apply to the estate of a decedent who died during or after 2010, but for the estate of a decedent who died after 2011, these dollar amounts must be increased or decreased if the CPI for the calendar year immediately preceding the year of death exceeds or is less than the reference base index. The amount of any increase or decrease is computed by multiplying each dollar amount by the percentage by which the CPI for the calendar year immediately preceding the year of death exceeds or is less than the reference base index. If any THE AMOUNT OF THE increase or decrease produced by the computation is not a multiple of one hundred THOUSAND dollars, THEN the AMOUNT OF THE increase or decrease is rounded down if IT IS an increase, or ROUNDED up if IT IS a decrease, to the next multiple of one hundred THOUSAND dollars, but for the purpose of section 15-11-405, the periodic installment amount is the lump-sum amount divided by twelve. If the CPI for 2009 2010 is changed by the bureau of labor statistics, the reference base index must be revised using the rebasing factor reported by the bureau of labor statistics, or other comparable data if a rebasing factor is not reported. (3) Before February 1, 2011 FEBRUARY 1, 2012, and before February 1 of each succeeding year, the department of revenue shall publish a cumulative list, beginning with the dollar amounts effective for the estate of a decedent who died in 2011 2012 of each dollar amount as increased or decreased under this section. SECTION 3. 15-10-201 (59), Colorado Revised Statutes, is amended to read: 15-10-201. General definitions. Subject to additional definitions contained in the subsequent articles that are applicable to specific articles, parts, or sections, and unless the context otherwise requires, in this code: PAGE 2-SENATE BILL 10-199 (59) "Will" includes any codicil and any testamentary instrument that merely appoints an executor, revokes or revises another will, nominates a guardian, or expressly excludes or limits the right of an individual or class to succeed to property of the decedent passing by intestate succession. "WILL" DOES NOT INCLUDE A DESIGNATED BENEFICIARY AGREEMENT THAT IS EXECUTED PURSUANT TO ARTICLE 22 OF THIS TITLE. SECTION 4. Part 1 of article 11 of title 15, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SECTION to read: 15-11-102.5. Share of designated beneficiary. (1) IF THE DECEDENT IS SURVIVED BY A PERSON WITH THE RIGHT TO INHERIT REAL OR PERSONAL PROPERTY FROM THE DECEDENT IN A DESIGNATED BENEFICIARY AGREEMENT EXECUTED PURSUANT TO ARTICLE 22 OF THIS TITLE, THE INTESTATE SHARE OF THE DECEDENT'S DESIGNATED BENEFICIARY IS: (a) THE ENTIRE ESTATE IF NO DESCENDENT OF THE DECEDENT SURVIVES THE DECEDENT; OR (b) ONE HALF OF THE INTESTATE ESTATE IF ONE OR MORE DESCENDANTS OF THE DECEDENT SURVIVE THE DECEDENT. SECTION 5. The introductory portion to 15-11-103 and 15-11-103 (1) and (7), Colorado Revised Statutes, as they will become effective July 1, 2010, are amended to read: 15-11-103. Share of heirs other than surviving spouse and designated beneficiary. Any part of the intestate estate not passing to the decedent's surviving spouse under section 15-11-102, OR TO THE DECEDENT'S SURVIVING DESIGNATED BENEFICIARY UNDER SECTION 15-11-102.5, or the entire intestate estate if there is no surviving spouse AND NO SURVIVING DESIGNATED BENEFICIARY WITH THE RIGHT TO INHERIT REAL OR PERSONAL PROPERTY FROM THE DECEDENT THROUGH INTESTATE SUCCESSION, passes in the following order to the individuals who survive the decedent: (1) To a designated beneficiary who was designated by the decedent to be his or her designated beneficiary for purposes of intestate succession pursuant to a designated beneficiary agreement that has been executed and recorded with a county clerk and recorder as provided in article 22 of this PAGE 3-SENATE BILL 10-199 title; except that, if the decedent has surviving children, then the designated beneficiary shall receive one-half of the intestate estate and the surviving children shall receive one-half of the intestate estate; (7) If there is no taker under subsections (1) to (6) of this section, but the decedent has: (a) One deceased spouse who has one or more descendants who survive the decedent, the estate or part thereof passes to that spouse's descendants per capita at each generation; or (b) More than one deceased spouse who has one or more descendants who survive the decedent, an equal share of the estate or part thereof passes to each set of descendants per capita at each generation. SECTION 6. 15-11-118 (3), Colorado Revised Statutes, as it will become effective July 1, 2010, is amended, and the said 15-11-118, as it will become effective July 1, 2010, is further amended BY THE ADDITION OF A NEW SUBSECTION, to read: 15-11-118. Adoptee and adoptee's adoptive parent or parents. (2.5) Individual in process of being adopted by second parent. FOR PURPOSES OF SUBSECTION (1) OF THIS SECTION, A CHILD WHO IS IN THE PROCESS OF BEING ADOPTED BY A SECOND ADULT IN A SECOND-PARENT ADOPTION WHEN THE SECOND ADULT DIES IS TREATED AS ADOPTED BY THE SECOND ADULT IF THE CHILD'S PARENT SURVIVES THE SECOND ADULT BY ONE HUNDRED TWENTY HOURS. (3) Child of assisted reproduction or gestational child in process of being adopted. If, after a parent-child relationship is established between a child of assisted reproduction and a parent under section 15-11-120 or between a gestational child and a parent under section 15-11-121, the child is in the process of being adopted by the parent's spouse OR ANOTHER INDIVIDUAL when that spouse OR INDIVIDUAL dies, the child is treated as adopted by the deceased spouse OR INDIVIDUAL for the purpose of paragraph (b) of subsection (2) of this section. SECTION 7. 15-11-119 (2.5) (a) and (2.5) (b), Colorado Revised Statutes, as they will become effective July 1, 2010, are amended to read: PAGE 4-SENATE BILL 10-199 15-11-119. Adoptee and adoptee's genetic parents. (2.5) Child of a second-parent adoption. A parent-child relationship exists between an individual who is adopted by a second parent and: (a) The A genetic parent who consented to a second-parent adoption; and (b) The other ANOTHER genetic parent WHO IS NOT A THIRD-PARTY DONOR, but only for the purpose of the right of the adoptee or a descendant of the adoptee to inherit from or through the other genetic parent. SECTION 8. 15-11-120 (8), Colorado Revised Statutes, as it will become effective July 1, 2010, is amended to read: 15-11-120. Child conceived by assisted reproduction other than child born to gestational carrier. (8) Presumption - birth mother is married or surviving spouse. For the purpose of paragraph (b) of subsection (6) of this section, the following rules apply: (a) If the birth mother is married AT THE TIME OF CONCEPTION and no divorce proceeding is THEN pending, in the absence of clear and convincing evidence to the contrary, her spouse satisfies IS PRESUMED TO SATISFY the requirements of subparagraph (I) or (II) of paragraph (b) of subsection (6) of this section. (b) If the birth mother is a surviving spouse and at her deceased spouse's death no divorce proceeding was pending, in the absence of clear and convincing evidence to the contrary, her deceased spouse satisfies IS PRESUMED TO SATISFY the requirements of subparagraph (II) or (III) of paragraph (b) of subsection (6) of this section. SECTION 9. 15-11-502, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SUBSECTION to read: 15-11-502. Execution - witnessed or notarized wills - holographic wills. (5) FOR PURPOSES OF THIS PART 5, "WILL" DOES NOT INCLUDE A DESIGNATED BENEFICIARY AGREEMENT THAT IS EXECUTED PURSUANT TO ARTICLE 22 OF THIS TITLE. SECTION 10. 15-11-503, Colorado Revised Statutes, is amended PAGE 5-SENATE BILL 10-199 BY THE ADDITION OF A NEW SUBSECTION to read: 15-11-503. Writings intended as wills. (4) SUBSECTION (1) OF THIS SECTION SHALL NOT APPLY TO A DESIGNATED BENEFICIARY AGREEMENT UNDER ARTICLE 22 OF THIS TITLE. SECTION 11. 15-11-701 (1), Colorado Revised Statutes, is amended, and the said 15-11-701 is further amended BY THE ADDITION OF A NEW SUBSECTION, to read: 15-11-701. Scope. For the purposes of this part 7, the term "governing instrument" shall be as defined in section 15-10-201 (22); except: (1) "Governing instrument" shall not include a deed which THAT transfers any interest in real property; however, section 15-11-712 shall apply to such deeds. and (3) IN THE ABSENCE OF A FINDING OF A CONTRARY INTENTION, THE RULES OF CONSTRUCTION IN SECTION 15-11-705 APPLY TO A GOVERNING INSTRUMENT EXECUTED OR REPUBLISHED OR REAFFIRMED ON OR AFTER JULY 1, 2010, AND THE RULES OF CONSTRUCTION UNDER SECTION 15-11-705, AS IT EXISTED PRIOR TO JULY 1, 2010, APPLY TO A GOVERNING INSTRUMENT EXECUTED PRIOR TO JULY 1, 2010, AND NOT REPUBLISHED OR REAFFIRMED AFTER THAT DATE. SECTION 12. 15-11-705 (3) and (4), Colorado Revised Statutes, as they will become effective July 1, 2010, are amended to read: 15-11-705. Class gifts construed to accord with intestate succession. (3) Relatives by marriage. Terms of relationship in a governing instrument that do not differentiate relationships by blood from those by marriage, such as uncles, aunts, nieces, or nephews, are STANDING ALONE SHALL BE construed to exclude relatives by marriage. unless: (a) When the governing instrument was executed, the class was then and foreseeably would be empty; or (b) The language or circumstances otherwise establish that relatives by marriage were intended to be included. PAGE 6-SENATE BILL 10-199 (4) Half-blood relatives. Terms of relationship in a governing instrument that do not differentiate relationships by the half blood from those by the whole blood, such as brothers, sisters, nieces, or nephews, are STANDING ALONE SHALL BE construed to include both types of relationships. SECTION 13. 15-12-203 (1) (b.5), Colorado Revised Statutes, is amended to read: 15-12-203. Priority among persons seeking appointment as personal representative. (1) Whether the proceedings are formal or informal, persons who are not disqualified have priority for appointment in the following order: (b.5) A person nominated GIVEN PRIORITY to be a personal representative by a power conferred in a designated beneficiary agreement MADE PURSUANT TO ARTICLE 22 OF THIS TITLE; SECTION 14. 15-12-703, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SUBSECTION to read: 15-12-703. General duties - relation and liability to persons interested in estate - standing to sue. (3.5) A PERSONAL REPRESENTATIVE SHALL NOT BE SURCHARGED FOR DISTRIBUTIONS MADE THAT DO NOT TAKE INTO CONSIDERATION THE POSSIBLE BIRTH OF A POSTHUMOUSLY CONCEIVED CHILD UNLESS PRIOR TO SUCH DISTRIBUTION: (a) THE PERSONAL REPRESENTATIVE HAS RECEIVED NOTICE OR HAS ACTUAL KNOWLEDGE THAT A PARTY INTENDS TO USE AN INDIVIDUAL'S GENETIC MATERIAL TO CREATE A CHILD OR HAS RECEIVED WRITTEN NOTICE THAT A PARTY MAY INTEND TO USE AN INDIVIDUAL'S GENETIC MATERIAL TO CREATE A CHILD; AND (b) THE BIRTH OF THE CHILD COULD AFFECT THE DISTRIBUTION OF THE DECEDENT'S ESTATE. SECTION 15. 15-12-705 (1) (g) and (1) (h), Colorado Revised Statutes, are amended, and the said 15-12-705 (1) is further amended BY THE ADDITION OF A NEW PARAGRAPH, to read: 15-12-705. Duty of personal representative - information to heirs PAGE 7-SENATE BILL 10-199 and devisees. (1) Not later than thirty days after appointment, every personal representative, except any special administrator, shall give information of his or her appointment to the heirs and devisees, including, if there has been no formal testacy proceeding and if the personal representative was appointed on the assumption that the decedent died intestate, the devisees in any will mentioned in the application for appointment of a personal representative. The information shall be delivered or sent by ordinary mail to each of the heirs and devisees whose address is reasonably available to the personal representative. The duty does not extend to require information to persons who have been adjudicated in a prior formal testacy proceeding to have no interest in the estate. The information shall: (g) Indicate that, because a court will not routinely review or adjudicate matters unless it is specifically requested to do so by a beneficiary, creditor, or other interested person, all interested persons, including beneficiaries and creditors, have the responsibility to protect their own rights and interests in the estate in the manner provided by the provisions of this code by filing an appropriate pleading with the court by which the estate is being administered and serving it on all interested persons pursuant to section 15-10-401; and (h) Indicate that all interested parties have the right to obtain information about the estate by filing a demand for notice pursuant to section 15-12-204; AND (i) INDICATE THAT ANY PERSON WHO HAS KNOWLEDGE THAT A PARTY INTENDS OR MAY INTEND TO USE AN INDIVIDUAL'S GENETIC MATERIAL TO CREATE A CHILD AND THAT THE BIRTH OF THE CHILD COULD AFFECT THE DISTRIBUTION OF THE DECEDENT'S ESTATE SHOULD GIVE WRITTEN NOTICE OF SUCH KNOWLEDGE TO THE PERSONAL REPRESENTATIVE OF THE DECEDENT'S ESTATE. SECTION 16. 15-12-808, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SUBSECTION to read: 15-12-808. Individual liability of personal representative. (5) A PERSONAL REPRESENTATIVE IS NOT INDIVIDUALLY LIABLE FOR MAKING DISTRIBUTIONS THAT DO NOT TAKE INTO CONSIDERATION THE POSSIBLE BIRTH OF A POSTHUMOUSLY CONCEIVED CHILD IF THE PERSONAL PAGE 8-SENATE BILL 10-199 REPRESENTATIVE MADE THE DISTRIBUTION PRIOR TO RECEIVING NOTICE OR ACQUIRING ACTUAL KNOWLEDGE THAT: (a) A PARTY INTENDS OR MAY INTEND TO USE AN INDIVIDUAL'S GENETIC MATERIAL TO CREATE A CHILD; AND (b) THE BIRTH OF THE CHILD COULD AFFECT THE DISTRIBUTION OF THE DECEDENT'S ESTATE. SECTION 17. 15-16-306, Colorado Revised Statutes, is amended BY THE ADDITION OF A NEW SUBSECTION to read: 15-16-306. Personal liability of trustee to third parties. (7) A TRUSTEE IS NOT PERSONALLY LIABLE FOR MAKING DISTRIBUTIONS OF PROPERTY THAT DO NOT TAKE INTO CONSIDERATION THE POSSIBLE BIRTH OF A POSTHUMOUSLY CONCEIVED CHILD UNLESS, PRIOR TO THE DISTRIBUTION, THE PERSONAL REPRESENTATIVE RECEIVED NOTICE OR ACQUIRED ACTUAL KNOWLEDGE THAT: (a) A PARTY INTENDS OR MAY INTEND TO USE AN INDIVIDUAL'S GENETIC MATERIAL TO CREATE A CHILD; AND (b) THE BIRTH OF THE CHILD COULD AFFECT THE DISTRIBUTION OF THE TRUST ASSETS. SECTION 18. 15-14-310 (1) (b), Colorado Revised Statutes, is amended to read: 15-14-310. Who may be guardian - priorities - prohibition of dual roles. (1) Subject to subsection (4) of this section, the court in appointing a guardian shall consider persons otherwise qualified in the following order of priority: (b) A person nominated as guardian by the respondent, including the respondent's specific nomination of a guardian made in a durable power of attorney or GIVEN PRIORITY TO BE A GUARDIAN in a designated beneficiary agreement made pursuant to article 22 of this title; SECTION 19. 15-14-413 (1) (b), Colorado Revised Statutes, is amended to read: PAGE 9-SENATE BILL 10-199 15-14-413. Who may be conservator - priorities - prohibition of dual roles. (1) Except as otherwise provided in subsection (4) of this section, the court, in appointing a conservator, shall consider persons otherwise qualified in the following order of priority: (b) A person nominated as conservator by the respondent, including the respondent's specific nomination of a conservator made in a durable power of attorney or GIVEN PRIORITY TO BE A CONSERVATOR in a designated beneficiary agreement MADE pursuant to article 22 of this title, if the respondent has attained twelve years of age; SECTION 20. 15-18.5-103 (1), Colorado Revised Statutes, is amended to read: 15-18.5-103. Proxy decision-makers for medical treatment authorized. (1) A health care provider or health care facility may rely, in good faith, upon the medical treatment decision of a proxy decision-maker selected in accordance with subsection (4) of this section if an adult patient's attending physician determines that such patient lacks the decisional capacity to provide informed consent to or refusal of medical treatment and no guardian with medical decision-making authority, agent appointed in a medical durable power of attorney, person designated as a designated beneficiary with the right to act as a proxy decision-maker IN A DESIGNATED BENEFICIARY AGREEMENT MADE pursuant to article 22 of this title, or other known person has the legal authority to provide such consent or refusal on the patient's behalf. SECTION 21. 15-18.5-104 (1), Colorado Revised Statutes, is amended to read: 15-18.5-104. Surrogate decision-makers for health care benefits. (1) A proxy decision-maker for medical treatment selected in accordance with section 15-18.5-103 or a person designated as a designated beneficiary with the right to act as a surrogate decision-maker IN A DESIGNATED BENEFICIARY AGREEMENT MADE pursuant to article 22 of this title shall have authority to make health care benefit decisions on behalf of an adult patient and may be known additionally as a surrogate decision-maker for health care benefits. SECTION 22. 15-19-106 (1) (c.5), Colorado Revised Statutes, is PAGE 10-SENATE BILL 10-199 amended to read: 15-19-106. Right to dispose of remains. (1) Subject to section 15-19-105 (2), the right to control disposition of the last remains or ceremonial arrangements of a decedent vests in and devolves upon the following persons, at the time of the decedent's death, in the following order: (c.5) A designated beneficiary who was designated in a designated beneficiary agreement pursuant to article 22 of this title as having PERSON WITH the right to direct the disposition of the decedent's last remains IN A DESIGNATED BENEFICIARY AGREEMENT MADE PURSUANT TO ARTICLE 22 OF THIS TITLE; SECTION 23. 15-22-106, Colorado Revised Statutes, is amended to read: 15-22-106. Statutory form of a designated beneficiary agreement. (1) The following statutory form shall be the standard form for a designated beneficiary agreement: DESIGNATED BENEFICIARY AGREEMENT DISCLAIMER Warning: While this document may indicate your wishes, certain additional documents may be needed to protect these rights. This designated beneficiary agreement is operative in the absence of other estate planning documents and will be superseded and set aside to the extent it conflicts with valid instruments such as a will, power of attorney, or beneficiary designation on an insurance policy or pension plan. This designated beneficiary agreement is superseded by such other documents and does not cause any changes to be made to those documents or designations. The parties understand that executing and signing this agreement is not sufficient to designate the other party for purposes of any insurance policy, PAGE 11-SENATE BILL 10-199 pension plan, payable upon death designation or manner in which title to property is held and that additional action will be required to make or change such designations. The parties understand that this designated beneficiary agreement may be one component of estate planning instructions and that they are encouraged to consult an attorney to ensure their estate planning wishes are accomplished. We, _______________, (insert full name and address) referred to as party A, and _______________, (insert full name and address) referred to as party B, hereby designate each other as the other's designated beneficiary with the following rights and protections, granted or withheld as indicated by our initials: TO GRANT ONE OR MORE OF THE RIGHTS OR PROTECTIONS SPECIFIED IN THIS FORM, INITIAL THE LINE TO THE LEFT OF EACH RIGHT OR PROTECTION YOU ARE GRANTING. TO WITHHOLD A RIGHT OR PROTECTION, INITIAL THE LINE TO THE RIGHT OF EACH RIGHT OR PROTECTION YOU ARE WITHHOLDING. A DESIGNATED BENEFICIARY AGREEMENT SHALL BE PRESUMED TO GRANT ALL OF THE RIGHTS AND PROTECTIONS LISTED IN THIS FORM UNLESS THE PARTIES WITHHOLD A RIGHT OR PROTECTION IN THE MANNER SET FORTH IMMEDIATELY ABOVE. TO GRANT A RIGHT TO WITHHOLD A RIGHT OR PROTECTION OR PROTECTION INITIAL INITIAL Party A Party B Party A Party B ___ ___ The right to acquire, hold title to, own jointly, ___ ___ or transfer inter vivos or at death real or personal property as a joint tenant with me with right of survivorship or as a tenant in common with me; ___ ___ The right to be designated by me as a ___ ___ PAGE 12-SENATE BILL 10-199 beneficiary, payee, or owner as a trustee named in an inter vivos or testamentary trust for the purposes of a nonprobate transfer on death; ___ ___ The right to be designated by me as a ___ ___ beneficiary and recognized as a dependent in an insurance policy for life insurance; ___ ___ The right to be designated by me as a ___ ___ beneficiary and recognized as a dependent in a health insurance policy if my employer elects to provide health insurance coverage for designated beneficiaries; ___ ___ The right to be designated by me as a ___ ___ beneficiary in a retirement or pension plan; ___ ___ The right to petition for and have priority for ___ ___ appointment as a conservator, guardian, or personal representative for me; ___ ___ The right to visit me in a hospital, nursing ___ ___ home, hospice, or similar health care facility in which a party to a designated beneficiary agreement resides or is receiving care; ___ ___ The right to initiate a formal complaint ___ ___ regarding alleged violations of my rights as a nursing home patient as provided in section 25-1-120, Colorado Revised Statutes; ___ ___ The right to act as a proxy decision-maker or ___ ___ surrogate decision-maker to make medical care decisions for me pursuant to section 15-18.5-103 or 15-18.5-104, Colorado Revised Statutes; ___ ___ The right to notice of the withholding or ___ ___ withdrawal of life-sustaining procedures for me pursuant to section 15-18-107, Colorado Revised Statutes; ___ ___ The right to challenge the validity of a ___ ___ declaration as to medical or surgical treatment of me pursuant to section 15-18-107 15-18-108, Colorado Revised Statutes; ___ ___ The right to act as my agent to make, revoke, ___ ___ or object to anatomical gifts involving my person pursuant to the "Revised Uniform PAGE 13-SENATE BILL 10-199 Anatomical Gift Act", part 1 of article 34 of title 12, Colorado Revised Statutes; ___ ___ The right to inherit real or personal property ___ ___ from me through intestate succession; ___ ___ The right to have standing to receive benefits ___ ___ pursuant to the "Workers' Compensation Act of Colorado", article 40 of title 8, Colorado Revised Statutes, in the event of my death on the job; ___ ___ The right to have standing to sue for wrongful ___ ___ death in the event of my death; and ___ ___ The right to direct the disposition of my last ___ ___ remains pursuant to article 19 of title 15, Colorado Revised Statutes. THIS DESIGNATED BENEFICIARY AGREEMENT IS EFFECTIVE WHEN RECEIVED FOR RECORDING BY THE COUNTY CLERK AND RECORDER OF THE COUNTY IN WHICH ONE OF THE DESIGNATED BENEFICIARIES RESIDES. THIS DESIGNATED BENEFICIARY AGREEMENT WILL CONTINUE IN EFFECT UNTIL ONE OF THE DESIGNATED BENEFICIARIES REVOKES THIS AGREEMENT BY RECORDING A REVOCATION OF DESIGNATED BENEFICIARY FORM WITH THE COUNTY CLERK AND RECORDER OF THE COUNTY IN WHICH THIS AGREEMENT WAS RECORDED OR UNTIL THIS AGREEMENT IS SUPERSEDED IN PART OR IN WHOLE BY A SUPERSEDING LEGAL DOCUMENT. ___________________________ ____________________________ Signature of designated beneficiary Signature of designated beneficiary STATE OF COLORADO County of ______________ This document was subscribed, sworn to, and acknowledged before me on ___________date by ________________________ PAGE 14-SENATE BILL 10-199 My commission expires ______________ [Seal] _______________________________ Notary Public (2) The instructions to each party regarding how to grant or withhold a right or protection by initialing and the words "Party A" and "Party B" shall appear at the top of each page of the statutory form above the columns for the initials of the designated beneficiaries. (3) A designated beneficiary agreement shall be presumed to extend all of the rights and protections listed in the statutory form unless the parties to the agreement explicitly exclude a right or protection. (4) A party to a designated beneficiary agreement may limit the scope of a designated beneficiary agreement by the terms of the agreement or by executing a superseding legal document that controls and supersedes part or all of the designated beneficiary agreement. SECTION 24. Section 17 of chapter 310, Session Laws of Colorado 2009, is amended to read: Section 17. Effective date - applicability. (1) This act takes effect on July 1, 2010. (2) This act applies on or after July 1, 2010, to: (a) Governing instruments executed by decedents dying on or after July 1, 2010; AND (b) Any proceedings in court then pending or thereafter commenced regardless of the time of death of the decedent except to the extent that, in the opinion of the court, the former procedure STATUTE should be made applicable in a particular case in the interest of justice or because of infeasibility of application of the procedure of the "Colorado Probate Code", articles 10 to 17 of title 15, Colorado Revised Statutes A PROVISION OF THIS ACT. (c) An act done before the effective date of this act in any PAGE 15-SENATE BILL 10-199 proceeding and any accrued right is not impaired by this act. If a right is acquired, extinguished, or barred upon the expiration of a prescribed period of time which has commenced to run by the provisions of any statute before the effective date of this act, the provisions shall remain in force with respect to that right; and (d) Any rule of construction or presumption provided in this act applies to governing instruments executed before the effective date of this act unless there is a clear indication of a contrary intent. (3) THIS ACT SHALL NOT APPLY TO: (a) AN ACTION PERFORMED BEFORE THE EFFECTIVE DATE OF THIS ACT IN ANY PROCEEDING; (b) AN ACCRUED RIGHT; (c) A RIGHT THAT IS ACQUIRED, EXTINGUISHED, OR BARRED UPON THE EXPIRATION OF A PRESCRIBED PERIOD OF TIME THAT HAS COMMENCED TO RUN BY THE PROVISIONS OF ANY STATUTE BEFORE JULY 1, 2010; OR (d) A PROVISION OF A GOVERNING INSTRUMENT THAT WAS EXECUTED BEFORE JULY 1, 2010, AND INCLUDES A CLEAR INDICATION OF A CONTRARY INTENT. SECTION 25. Specified effective date - applicability. (1) This act shall take effect July 1, 2010. (2) This act shall apply to: (a) Governing instruments executed by decedents who die on or after July 1, 2010; and (b) Any proceeding in court then pending or thereafter commenced regardless of the time of death of the decedent except to the extent that, in the opinion of the court, the former statute should be made applicable in a particular case in the interest of justice or because of infeasibility of application of a provision of this act. (3) This act shall not apply to: PAGE 16-SENATE BILL 10-199 (a) An action performed before the effective date of this act in any proceeding; (b) An accrued right; (c) A right that is acquired, extinguished, or barred upon the expiration of a prescribed period of time that has commenced to run by the provisions of any statute before July 1, 2010; or (d) A provision of a governing instrument that was executed before July 1, 2010, and includes a clear indication of a contrary intent. SECTION 26. Safety clause. The general assembly hereby finds, PAGE 17-SENATE BILL 10-199 determines, and declares that this act is necessary for the immediate preservation of the public peace, health, and safety. ____________________________ ____________________________ Brandon C. Shaffer Terrance D. Carroll PRESIDENT OF SPEAKER OF THE HOUSE THE SENATE OF REPRESENTATIVES ____________________________ ____________________________ Karen Goldman Marilyn Eddins SECRETARY OF CHIEF CLERK OF THE HOUSE THE SENATE OF REPRESENTATIVES APPROVED________________________________________ _________________________________________ Bill Ritter, Jr. GOVERNOR OF THE STATE OF COLORADO PAGE 18-SENATE BILL 10-199