C.R.S. § 15-11-405
This section is similar to former § 15-11-404 as it existed prior to 1995.
COMMENT
Scope and Purpose of 1990 Revision. As originally adopted in 1969, the maximum family allowance the personal representative was authorized to determine without court order was a lump sum of $6,000 or periodic installments of $500 per month for one year. To adjust for inflation, the amounts were increased in 1990 to $18,000 and $1,500 respectively and in 2008 to $22,500 and $2,250. The dollar amount in this section is subject to annual cost-of-living adjustments under Section 1-109.
A new subsection (b) was added to provide for the case where the right to an elective share is exercised on behalf of a surviving spouse who is an incapacitated person. In that case, the personal representative is authorized to add any unexpended portions under the homestead allowance, exempt property, and family allowance to the custodial trust established by Section 2-212(b).
If Domiciliary Assets Insufficient. Note that a domiciliary personal representative can collect against out of state assets if domiciliary assets are insufficient.
Cross References. See Sections 3-902, 3-906, and 3-907.
Historical Note. This Comment was revised in 1993 and 2008.
For provisions relating to the time of taking effect or the provisions for transition of this code, see § 15-17-101.