HB 10-1105 Summary

• Creates Part 6 of the Colorado Probate Code establishing compensation and cost recovery provisions for fiduciaries, lawyers, and third parties involved in estate administration

• Fiduciaries and their lawyers are entitled to reasonable compensation for services rendered on behalf of estates; lawyers hired by respondents, wards, or protected persons are entitled to reasonable compensation and costs for legal representation

• Courts must determine reasonableness of compensation based on specific factors including time and labor required, compensation customarily charged in the community, nature and size of the estate, litigation involved, expertise of the person performing services, and terms of governing instruments

• Establishes a formal fee dispute resolution process requiring the person requesting compensation to provide documentation within 30 days of an objection, with the objector having 15 days to file specific written objections based on reasonableness factors

• Courts may assess reasonable attorney fees and costs against parties bringing bad faith proceedings, and unsuccessful defenders of compensation claims may not recover defense fees to the extent compensation is found unreasonable