Colorado § 15-12-902 Distribution - order in which assets appropriated - abatement

Colorado Statutes

§ 15-12-902 — Distribution - order in which assets appropriated - abatement

Colorado·Title 15 Probate,·Art. Probate of Wills and Administration

(1)(a) Except as provided in subsection (2) of this section and except as provided in connection with the share of the surviving spouse who elects to take an elective share, shares of distributees abate, without any preference or priority as between real and personal property, in the following order:

(I)Property not disposed of by the will;

(II)Residuary devises;

(III)General devises;

(IV)Specific devises.

(b)For purposes of abatement, a general devise charged on any specific property or fund is a specific devise to the extent of the value of the property on which it is charged, and upon the failure or insufficiency of the property on which it is charged, a general devise to the extent of the failure or insufficiency. Abatement within each classification is in proportion

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(1) (a) Except as provided in subsection (2) of this section and except as provided in
connection with the share of the surviving spouse who elects to take an elective
share, shares of distributees abate, without any preference or priority as between
real and personal property, in the following order:

(I) Property not disposed of by the will;

(II) Residuary devises;

(III) General devises;

(IV) Specific devises.

(b) For purposes of abatement, a general devise charged on any specific
property or fund is a specific devise to the extent of the value of the property on
which it is charged, and upon the failure or insufficiency of the property on which it
is charged, a general devise to the extent of the failure or insufficiency. Abatement
within each classification is in proportion to the amounts of property each of the
beneficiaries would have received if full distribution of the property had been made
in accordance with the terms of the will.

(2) If the will expresses an order of abatement, or the express purpose of the
devise would be defeated by the order of abatement stated in subsection (1) of this
section, the shares of the distributees abate as may be found necessary to give
effect to the intention of the testator.

(3) If the subject of a preferred devise is sold or used incident to
administration, abatement shall be achieved by appropriate adjustments in, or
contribution from, other interests in the remaining assets.

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