Colorado Probate Bonds for Personal Representatives and Conservators

When Colorado requires a probate bond

Colorado handles probate in the district court, except in the City and County of Denver, where the probate court handles it. Before the court issues letters, a personal representative qualifies by filing any required bond and a statement accepting the duties of the office. In an informal proceeding, no bond is required, except in three situations: the appointment of a special administrator; appointment under a will that expressly requires a bond; or when a bond is required under the demand statute, C.R.S. 15-12-605. In a formal proceeding, a bond may be required by court order at the time of appointment. If the will relieves the personal representative of a bond, a bond is still not required in a formal proceeding unless an interested party has requested one and the court is satisfied that it is desirable. A bond that a will requires may be dispensed with in a formal proceeding if the court determines it is not necessary.

The court and a probate attorney have the final word on what your estate requires; the Colorado Judicial Branch probate self-help pages list the state's probate self-help resources.

How the bond amount is set

Colorado does not set a flat bond amount. If a bond is required and the will or court order does not specify the amount (and it is not stated in the application or petition), the amount is built from a sworn estimate. The person qualifying files a statement under oath with the registrar giving their best estimate of the value of the decedent's personal estate and of the income expected from the personal and real estate during the next year, and then files a bond with the registrar — or gives other suitable security — in an amount not less than that estimate. The registrar may permit the amount to be reduced by the value of estate assets deposited with a domestic financial institution (as defined in C.R.S. 15-15-201) whose deposits are insured to the satisfaction of the court, in a manner that prevents their unauthorized disposition. On a petition by the personal representative or another interested person, the court may excuse a bond, increase or reduce the amount, release sureties, or permit another bond to be substituted.

What you pay is a small share of the bond amount, set by the surety from your credit and the estate's details.

Conservator bonds

Conservator bonds follow a separate statute, C.R.S. 15-14-415. Unless the court makes specific findings as to why a bond is not required in the case, the court must require a conservator to furnish a bond conditioned on faithfully discharging all duties of the conservatorship, with sureties the court specifies. Instead of a bond, the court may impose restrictions on the conservator's access to, or transfer of, the conservatorship estate's assets. Unless the court directs otherwise, the bond must be in the amount of the aggregate capital value of the estate property in the conservator's control, plus one year's estimated income, minus the value of assets deposited under arrangements requiring a court order to remove them and the value of any real property the conservator, by express limitation, lacks power to sell or convey without court authorization. In place of sureties, the court may accept collateral for the bond, such as a pledge of securities or a mortgage of real property. If someone asks the court to waive or reduce a surety on the bond, the court may require the conservator to supply a credit report and a statement of assets, liabilities, income, and expenses. Unless the court directs otherwise, the cost of the bond is charged to the protected person's estate.

Steps

1. Get appointed. Apply to the district court — the probate court in the City and County of Denver — to be appointed personal representative.
2. See whether a bond is required. In an informal case there is usually no bond, unless you are a special administrator, the will requires one, or a bond is demanded under C.R.S. 15-12-605; in a formal case the court may order one.
3. Qualify before letters. File any required bond and your statement of acceptance of the duties of the office with the court before it issues letters.
4. Set the amount. If a bond is required and the will or court order does not set the amount, file a sworn estimate of the personal estate and next year's income with the registrar, and file a bond for not less than that estimate or give other suitable security.
5. Respond to a court notice. If, after a demand, the court notifies you that a bond is required, file a suitable bond within 30 days; until you do, use only the powers needed to preserve the estate.
6. Adjust the bond if things change. Petition the court to increase, reduce, release sureties, or substitute the bond as the estate changes.
7. Close the estate. Complete administration and close the estate; ending your appointment does not erase liability for what happened before it ended.

Sources

• Colorado Revised Statutes 2024, Title 15 (official statute text)
• Colorado Judicial Branch — Probate self-help and court forms

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