Phone 720-865-8310 Fax 720-865-8576
Return to Page
Probate
Home Page
Search this site
Conservator Bond Requirement
When a conservator is appointed by the Denver Probate Court, there is a possibility that the mandatory requirement of posting bond MAY be waived by the judicial officer. See CRS 15-14-415. The requirement of a bond is a condition that is imposed to insure the “faithful discharge of all duties of the conservatorship according to law.” One of the duties of a conservator is the filing of an inventory, financial plan and annual reports (accountings) as directed by the Court or in accordance with the law. See CRS 15-14-418, -419, and -420. Historically, when a conservator failed to comply with the law or court order requiring inventory, financial plan or annual accountings, we would attempt to determine why the conservator was delinquent and what steps we/he/she could take to insure compliance in the future. Commencing immediately, delinquent conservators for whom the mandatory bond requirement has been waived are going to be immediately ordered to post a bond. Currently, the law provides that “[u]nless otherwise directed by the court, the cost of the bond shall be charged to the protected person’s estate . . . .” If the Denver Probate Court imposes a bond requirement on a conservator for whom the bond requirement was previously waived because of the conservator’s delinquency, the conservator will be ordered to secure the bond and pay the premium personally (not from estate funds) until further order of the court.
The rationale for this policy is as follows: When it adopted the Uniform Guardianship and Protective Proceedings Act, effective January 1, 2001, the Colorado Legislature created a new requirement that every conservator should post a bond to insure the faithful discharge of the conservator’s duties and imposed upon all Colorado probate courts the obligation to make a specific factual finding that the bond was not required in an individual case because the conservator presented some special indicia of trustworthiness and reliability. Delinquency in filing reports exhibits a lack of trustworthiness and reliability and imposes extra responsibilities on courts at a time when our resources and staffs are stretched to the limit. Neither the court nor the protected person should have to bear the added burdens created by a delinquent conservator. It is hoped that the re-imposition of the bond requirement may increase the level of compliance among conservators, transfer the cost to the conservator for delinquencies caused by the conservator, and identify conservators who cannot qualify for bonds—who will promptly be replaced.