Chapter 34 - § 34.33 • AFTER-DISCOVERED ASSETS

• Jurisdiction: Colorado

§ 34.33 • AFTER-DISCOVERED ASSETS

In some jurisdictions a practice has developed of including in formal decrees of distribution or deeds of distribution a so-called "omnibus clause" passing the title to any property owned by the decedent, whether or not inventoried, and any property acquired by the representative for the estate. The purpose of this practice is to attempt to avoid the necessity of reopening the estate if an asset not discovered until after the administration has been completed comes to light.

This practice may not be effective and does not appear to be especially necessary on account of the specific Code...