Chapter 34 - § 34.41 • RESERVE

• Jurisdiction: Colorado

§ 34.41 • RESERVE

It may be that it is desired to make final settlement of the estate even though some tax matter of comparatively small consequence is unresolved; for example, a matter of income tax in dispute in which there seems no possibility that large amounts of tax could become payable. In those circumstances, by agreement, the representative could hold back a reserve against the tax and expenses and make distribution of the balance, or without holding a reserve take an indemnity agreement from the parties in interest. The amount of the reserve, if any, will be paid to the representative...