Colorado § 15-14-412 - Protective arrangements and single transactions.

§ 15-14-412. Protective arrangements and single transactions.

(1) If a basis is established for a protective order with respect to an individual, the court, without appointing a conservator, may:

(a) Authorize, direct, or ratify any transaction necessary or desirable to achieve any arrangement for security, service, or care meeting the foreseeable needs of the protected person, including:

(I) Payment, delivery, deposit, or retention of funds or property;

(II) Sale, mortgage, lease, or other transfer of property;

(III) Purchase of an annuity;

(IV) Making a contract for life care, deposit contract, or contract for training and education; or

(V) Addition to or establishment of a suitable trust, including a trust created under the "Colorado Uniform Custodial Trust Act", article 1.5 of this title; and

(b) Authorize, direct, or ratify any other contract, trust, will, or transaction relating to the protected person's property and business affairs, including a settlement of, and distribution of settlement of, a claim, upon determining that it is in the best interest of the protected person.

(2) In deciding whether to approve a protective arrangement or other transaction under this section, the court shall consider the factors described in section 15-14-411 (3).

(3) (a) The court may appoint a special conservator to assist in the accomplishment of any protective arrangement or other transaction authorized under this section. The special conservator has the authority conferred by the order and shall serve until discharged by order after report to the court.

(b) If the court appoints a special conservator without notice to the respondent, protected person, or any other person entitled to notice pursuant to section 15-14-404 (2) and the person appointed is a professional without priority to serve pursuant to section 15-14-413 or a public administrator pursuant to section 15-12-622, the court shall, upon entry of the order of appointment of special conservator, simultaneously appoint a visitor to investigate and report to the court within fourteen days after the appointment as provided in section 15-14-113.5.

Source: L. 2000: Entire part R&RE, p. 1809, § 1, effective January 1, 2001 (see § 15-17-103). L. 2020: (3) amended, (SB 20-129), ch. 270, p. 1317, § 4, effective September 1. L. 2021: (3)(b) amended, (SB 21-266), ch. 423, p. 2800, § 13, effective July 2.

Editor's note: This section is similar to former § 15-14-409 as it existed prior to 2001.

ANNOTATION

Law reviews. For article, "Determination of Heirship by Special Proceedings and Temporary Conservationship", see 14 Colo. Law. 1781 (1985). For article, "Colorado Guardianship and Conservatorship Law: A Status Report", see 16 Colo. Law. 421 (1987). For article, "Trust Protection of Personal Injury Recoveries from Public Creditors", see 19 Colo. Law. 2187 (1990).