2014 Cost of Living Adjustment of Certain Dollar Amounts Under Colorado Probate Code
by Peter J. O'Brien
At the beginning of every year, the Colorado Department of Revenue publishes a list of cost of living adjustments for certain dollar amounts under the Colorado Probate Code. It is important for probate practitioners to be aware of the change in figures related to the intestate share of a decedent's surviving spouse, supplemental elective-share, exempt property, lump sum exempt family allowance and collection of personal property by affidavit.
The 2014 figures are as follows:
|
Statute |
Description |
2014 Amount |
|
C.R.S. § 15-11-102(2) |
Intestate share of decedent's surviving spouse if no descendant of the decedent survives the decedent, but a parent of the decedent survives the decedent |
$320,000, plus fractional share pursuant to statute |
|
C.R.S. § 15-11-102(3) |
Intestate share of decedent's surviving spouse if all of the decedent’s surviving descendants are also descendants of the surviving spouse and the surviving spouse has one or more surviving descendants who are not descendants of the decedent |
$240,000, plus fractional share pursuant to statute |
|
C.R.S. § 15-11-102(4) |
Intestate share of decedent's surviving spouse if one or more of the decedent’s surviving descendants are not descendants of the surviving spouse |
$160,000, plus fractional share pursuant to statute |
|
C.R.S. § 15-11-201 |
Supplemental elective-share amount |
$53,000 |
|
C.R.S. § 15-11-403 |
Exempt property |
$32,000 |
|
C.R.S. § 15-11-405 |
Lump sum exempt family allowance |
$32,000 |
|
C.R.S. § 15-12-1201 |
Collection of personal property by affidavit |
$64,000 |