Chapter 34 - § 34.3 • VARYING THE PATTERN OF DISTRIBUTION

• Jurisdiction: Colorado

§ 34.3 • VARYING THE PATTERN OF DISTRIBUTION

In preparing for the final settlement and distribution of the estate the personal representative should take into account any variations that have been effected by the parties either from the dispositive provisions of the will or the pattern of intestate succession.

Some of these variations may have been worked out among the successors to achieve a pattern of distribution that is more advantageous from an estate tax perspective or otherwise. Examples include (1) selection by the surviving spouse of property to satisfy the exempt property allowance; (2) the award and payment of the statutory family support allowance among the surviving spouse and children; and (3) the surviving spouse's statutory elective share (which may convert a trust interest to an outright distribution and which, in general, may enlarge the size of the marital deduction).

The personal representative should also be alert to any disclaimers that may have been executed, the effect of which would be to treat the disclaiming party as having predeceased the decedent.

In addition, there are two statutory provisions under the Probate Code for changing the dispositive pattern of a will. The first is C.R.S. § 15-12-912 (Private Agreements Among Successors), which allows competent successors to rearrange their distributive interests under a will, subject, however, to the rights of third...