Chapter 34 - § 34.28 • MINOR, INCAPACITATED, OR DECEASED BENEFICIARIES

• Jurisdiction: Colorado

§ 34.28 • MINOR, INCAPACITATED, OR DECEASED BENEFICIARIES

If there are any beneficiaries who are minors, incompetent, or deceased, arrangements should be made to secure copies of letters of appointment, or if the amounts are within the provisions of the small estates procedure (see Chapter 43, "Avoidance of Administration — Small Estates Act"), arrangements should be made to dispose of the property under that statute, or other arrangements made to avoid a conservatorship proceeding.

In 1999, Colorado adopted the Uniform Custodial Trust Act.¹⁰³ This act, like the Uniform Transfers to Minors Act, establishes a statutory trust whose provisions are activated by registration of assets in custodial trust form. The statute may be utilized to facilitate gift transfers and...