(1)(a) (I) If the
estate is otherwise sufficient, property specifically devised or disposed of by
memorandum under section 15-11-513 to any person other than a person entitled to
exempt property may not be used to satisfy rights to exempt property. Subject to
this restriction, the surviving spouse, the guardians of minor children, or dependent
children who are adults may select property of the estate as their exempt property.
The personal representative may make these selections if the surviving spouse, the
dependent children, or the guardians of the minor children are unable or fail to do
so within a reasonable time or there is no guardian of a minor child. The personal
representative may execute an instrument or deed of distribution to establish the
ownership of property taken
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(1) (a) (I) If the
estate is otherwise sufficient, property specifically devised or disposed of by
memorandum under section 15-11-513 to any person other than a person entitled to
exempt property may not be used to satisfy rights to exempt property. Subject to
this restriction, the surviving spouse, the guardians of minor children, or dependent
children who are adults may select property of the estate as their exempt property.
The personal representative may make these selections if the surviving spouse, the
dependent children, or the guardians of the minor children are unable or fail to do
so within a reasonable time or there is no guardian of a minor child. The personal
representative may execute an instrument or deed of distribution to establish the
ownership of property taken as exempt property allowance. Prior to January 1, 2012,
the personal representative may determine the family allowance in a lump sum not
exceeding twenty-four thousand dollars or periodic installments not exceeding two
thousand dollars per month for one year and may disburse funds of the estate in
payment of the family allowance. The personal representative or an interested
person aggrieved by any selection, determination, payment, proposed payment, or
failure to act under this section may petition the court for appropriate relief, which
may provide a family allowance other than that which the personal representative
determined or could have determined.
(II) If the estate is otherwise sufficient, property specifically devised or
disposed of by memorandum under section 15-11-513 to any person other than a
person entitled to exempt property may not be used to satisfy rights to exempt
property. Subject to this restriction, the surviving spouse, the guardians of minor
children, or dependent children who are adults may select property of the estate as
their exempt property. The personal representative may make these selections if
the surviving spouse, the dependent children, or the guardians of the minor children
are unable or fail to do so within a reasonable time or there is no guardian of a minor
child. The personal representative may execute an instrument or deed of
distribution to establish the ownership of property taken as exempt property
allowance. On and after January 1, 2012, the personal representative may determine
the family allowance in a lump sum not exceeding thirty thousand dollars or
periodic installments not exceeding two thousand five hundred dollars per month
for one year and may disburse funds of the estate in payment of the family
allowance. The personal representative or an interested person aggrieved by any
selection, determination, payment, proposed payment, or failure to act under this
section may petition the court for appropriate relief, which may provide a family
allowance other than that which the personal representative determined or could
have determined.
(b) The dollar amount stated in subparagraph (I) or (II) of paragraph (a) of this
subsection (1) shall be increased or decreased based on the cost of living
adjustment as calculated and specified in section 15-10-112; except that, when the
increase in the dollar amount stated in subparagraph (II) of paragraph (a) of this
subsection (1), as enacted in Senate Bill 11-016, enacted in 2011, takes effect, the
next regularly scheduled cost of living adjustment will be suspended for one year.
(2) If the right to an elective-share is exercised on behalf of a surviving
spouse who is an incapacitated person, the personal representative may add any
unexpended portions payable under the exempt property and family allowance to
the trust established under section 15-11-206 (2).
(3) No exempt property or family allowance shall be payable unless the
person entitled to payment thereof requests such payment within six months after
the first publication of notice to creditors for filing claims which arose before the
death of the decedent, or within one year after the date of death, whichever time
limitation first expires. The court may extend the time for presenting such request
as it sees fit for cause shown by the person entitled to payment before the time
limitation has expired; except that the time for presenting the request shall not be
extended beyond two years after the date of death. The request shall be made to
the personal representative, or, if none is appointed, to any other person having
possession of the decedent's assets. A request on behalf of a minor or dependent
child may be made by the child's guardian or other person having his or her care
and custody.