Conservator's Financial Plan

There are all sorts of forms executors, beneficiaries, and probate court clerks have to fill out and correspond with during probate and estate settlement, including affidavits, letters, petitions, summons, orders, and notices.

Conservator's Financial Plan is a commonly used form within Colorado. Here’s an overview of what the form is and means, including a breakdown of the situations when (or why) you may need to use it:

Atticus Fast Facts About Conservator's Financial Plan

Sometimes it’s tough to find a quick summary— here’s the important details you should know about Conservator's Financial Plan:

• This form pertains to the State of Colorado

• The current version of this form was last revised on June 1, 2021

Government forms are not typically updated often, though when they are, it often happens rather quietly. While Atticus works hard to keep this information about Colorado’s Form JDF 882 SC - Conservator's Financial Plan up to date, certain details can change from time-to-time with little or no communication.

Step 1 - Download the correct Colorado form based on the name and ID if applicable

Double check that you have both the correct form name and the correct form ID. Some Colorado probate forms can look remarkably similar, so it’s best to double, even triple-check that you’re using the right one! Keep in mind that not all States have a standardized Form ID system for their probate forms.

Step 2 - Complete the Document

Fill out all relevant fields in Form JDF 882 SC, take a break, and then review. Probate and estate settlement processes in CO are long enough to begin with, and making a silly error can push your timeline even farther back. No thank you!

Note: If you don’t currently know all of the answers and are accessing Form JDF 882 SC online, be sure to avoid closing the browser tab and potentially losing all your progress (or use a platform like Atticus to help avoid making mistakes).

Step 3 - Have Form JDF 882 SC witnessed or notarized (if required)

Some States and situations require particular forms to be notarized. If you have been instructed to get the document notarized or see it in writing on the document, then make sure to hire a local notary. There are max notary fees in the United States that are defined and set by local law. Take a look at our full guide to notary fees to make sure you aren’t overpaying or getting ripped off.

Step 4 - Submit Conservator's Financial Plan to the relevant office

This is most often the local probate court where the decedent (person who passed away) is domiciled (permanently resides) or the institution involved with this particular form (e.g. a bank). Some offices allow you to submit forms online, other’s don’t, and we while we generally recommend going in-person to expedite the process, sometimes that simply isn’t an option.

It’s also a generally good idea to establish a positive working relationship with any probate clerk (unfortunately there’s enough people & process out there making things more difficult and unnecessarily confusing for them), so a best practice is to simply ask the probate clerk proactively exactly how and where they’d prefer you to submit all forms.

Need help getting in touch with a local probate court or identifying a domicile probate jurisdiction?

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Different probate forms or processes can require different deadlines or response times for completing the appropriate form.

While some steps in the process are bound to specific deadlines (like petitioning for probate, having to submit an inventory of assets, or filing applicable notices to creditors and beneficiaries), many probate forms or processes are not tied to a specific deadline since the scope of work can vary based on situational factors or requirements involved.

Either way, there are a bunch of practical reasons why personal representatives should work to complete each step as thoroughly and quickly as possible when completing probate in Colorado.

5 reasons you should submit JDF 882 SC as quickly as possible:

1. The sooner you begin, the faster Colorado can allow heirs and beneficiaries to get their share of assets subject to probate. Acting promptly can also decrease the costs & overall mental fatigue through an otherwise burdensome process.
   
   Helpful Context: What’s the Difference Between Probate and Non-Probate Assets?

2. In general, creditors of an estate usually have around 3-6 months from the time you file notice to creditors to file any claims for debt against the deceased’s assets. If they don’t, then that debt is forfeited (and more importantly, the executor won’t be held personally responsible). So doing this sooner means you have a better idea of who is owed what and ensures you won’t get a surprise collector months later.

3. Not filing a will within 30 days (on average) could mean that the probate process proceeds according to intestate laws (laws that govern what happens to someone's stuff without a will) or is subject to unnecessary supervision by the probate court. And if you aren't directly related to the deceased (a.k.a. next of kin), this could also mean you lose your inheritance.

4. It’s important to file any necessary state tax returns on behalf of the deceased or estate by the following tax season in Colorado. If you don’t, you could owe penalties and interest. This also includes any necessary federal tax returns such as Forms 1040, 1041, or even a Form 706 estate tax return.

5. If a house in the State of Colorado is left empty (or abandoned) for a while, insurance can get dicey. For example, if the house burns down and no one has been there for a year, an insurance company may get out of paying your claim.

If you’re not using Atticus to get specific forms, deadlines, and timelines for Colorado probate, then try and stay as organized as possible, pay close attention to the dates mentioned in any correspondence you have with the State’s government officials, call the local Colorado probate clerk or court for exact answers regarding Form JDF 882 SC, and when in doubt— consult a qualified trust & estates lawyer for that area.

Conservator's Financial Plan is one of the many probate court forms available for download through Atticus.

It may also be available through some Colorado probate court sites, such as . In order to access the latest version, be updated with any revisions, and get full instructions on how to complete each form, check out the Atticus Probate & Estate Settlement software or consider hiring a qualified legal expert locally within Colorado.

While Atticus automatically provides the latest forms, be sure to choose the correct version of Form JDF 882 SC - Conservator's Financial Plan f using any other site or resource in order to avoid having to re-complete the form process and/or make another trip to the Colorado probate court office.

Conservator's Financial Plan is a .pdf, so opening it should be as simple as clicking “View Form” from within the Atticus app or by clicking the appropriate link found on any Colorado-provided government platform. Once you’ve opened the form, you should be able to directly edit the form before saving or printing.

Here’s the text, verbatim, that is found on Colorado Form JDF 882 SC - Conservator's Financial Plan. You can use this to get an idea of the context of the form and what type of information is needed.

JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 1 of 11 qDistrict Court qDenver Probate Court ___________________ County, Colorado Court Address: In the Interest of: Protected Person COURT USE ONLY Attorney or Party Without Attorney (Name and Address): Phone Number: E-mail: FAX Number: Atty. Reg. #: Case Number: Division Courtroom CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL q INITIAL REPORT INVENTORY VALUES AS OF DATE OF APPOINTMENT q AMENDED REPORT INVENTORY VALUES AS OF DATE _____________ (MM/DD/YYYY) DATE OF APPOINTMENT _____________ (MM/DD/YYYY) FILING DUE DATE ________________ (MM/DD/YYYY) I, (conservator), move this court to approve this qInitial qAmended Conservator’s Financial Plan with Inventory. As grounds therefore, the conservator states the following: 1. The information contained in the Financial Plan with Inventory is true and complete. The proposed plan is necessary to protect and manage the income and assets of the protected -pPerson. 2. The Financial Plan is based on the actual needs and best interest of the protected person. I understand that I am required to maintain supporting documentation for all receipts and disbursements including detailed billing statements from any professional. The court or any interested person as identified in the Order Appointing Conservator may request copies at any time. I understand that I must provide copies of this Financial Plan with Inventory to the protected person and any others as identified in the Order Appointing Conservator, within 10 days of filing with the court and will indicate having done so by completing the certificate of service at the end of this form. (§ 15-14-404(4), C.R.S.) Unless the court receives a timely objection to this motion, this matter will be considered unopposed and reviewed by the court. Notice to interested persons. Interested persons have the responsibility to protect their own rights and interests within the time and in the manner provided by the Probate Code, including the appropriateness of disbursements, the compensation of fiduciaries, attorneys, and others, and the distribution of estate assets. Interested persons may file an objection with the court. The court may not review or adjudicate these or other matters unless specifically requested to do so by an interested person. JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 2 of 11 PART A: CONTACT INFORMATION Protected Person’s Information: q Check if updated information from petition Name: ____________________________________________________Age : ________ (Include Name of Living Center or Nursing Home, if applicable) Street Address: __________________________________________________________________________ City: State: Zip Code: Mailing Address, if different: ___________________________________________________________ City: ___________________ State: ______________ Zip Code: _________________ Primary Phone: Alternate Phone: _____________________ Conservator’s Information: qCheck if updated information from petition Name: ____________________________________________________ Age: _______________ Have you had any criminal charges filed against you or convictions entered since the last report? qYes q No If Yes, explain: _____________________________________________________________________________ Occupation: _____________________ Your relationship to protected person: __________________________ Street Address: ____________________________________________________________ City: ___________________ State: ______ Zip Code: _________ Mailing Address, if different: ___________________________________________________________ City: ________________ State: ___________ Zip Code: _____________ Primary Phone ___________________ Alternate Phone: _________________ Email address: ___________________ Co-Conservator’s Information: (if applicable) q Check if updated information from petition Name: ____________________________________________________Age: ____________ Have you had any criminal charges filed against you or convictions entered since the last Petition? qYes q No If Yes, explain: ______________________________________________________________________________ Occupation: _____________________ Your relationship to protected person: _________________________ Street Address: ____________________________________________________________ City: ___________________ State: ______ Zip Code: _________ Mailing Address, if different: ___________________________________________________________ City: ________________ State: ___________ Zip Code: _____________ Primary Phone ___________________ Alternate Phone: _________________ Email address: ___________________ PART B: CONSERVATORSHIP ISSUES 1. Are the assets in the estate identified to date sufficient to provide for the present and future care of the Protected Person? qYes qNo If No, describe why and what steps should be taken. If you would like the Court to take action, you must file a motion with the Court. JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 3 of 11 2. Should there be a change in scope of the Conservatorship? q Yes q No If Yes, describe why and what steps should be taken. If you would like the Court to take action, you must file a motion with the Court. 3. qBond has been set in the amount of $ ___________________. Surety has been posted. qThe setting of bond was deferred pending filing of this Conservator’s Financial Plan with Inventory and Motion for Approval. The Conservator now requests that bond be set in the amount of $_____________. qBond has been waived by the Court. INSTRUCTIONS ON HOW TO COMPLETE THIS FORM The Financial Plan and Inventory must be filed with the Court pursuant to §§15-14-418 and 15-14-419, C.R.S. Steps 1 and 2 are a projection of the Protected Person’s annual income and expenses. Enter both the anticipated monthly and annual amounts in the respective columns. Step 3 is an inventory of the Protected Person’s assets. Provide a detailed description of the asset as well as the current fair market value. Step 4 summarizes all costs and expenses incurred by the estate related to this proceeding. Step 5 summarizes all debts of the estate. Provide a detailed description as well as the remaining amount due. Step 6 and 7 are a summary. Transfer the respective income and expense totals from Steps 1 and 2 as well as the asset and liability totals in steps 3 through 5 to the appropriate lines in Step 7 to calculate the net income and net worth. PART C: FINANCIAL PLAN List all expected sources of receipts/income and disbursements/expenses in the charts below. If a specific category is not applicable, indicate “0” in the projected monthly and annual amounts columns. You will use these amounts when you file the initial Conservator’s Report. Step 1: Projected Receipts/Income Indicate the amount of cash receipts/income received on both a monthly and annual basis. If an income amount (such as wages) is to be received on a monthly basis, multiply the amount by 12 to determine the projected annual amount. If an income amount (such as dividends) is to be received on an annual basis, divide the amount by 12 to determine the projected monthly amount. Description of Receipt/Income Category Projected Monthly Amount Projected Annual Amount Asset Not Previously Reported Business Income Court Order Repayment Disability/Unemployment/Worker’s Compensation Distribution – Annuity Distribution – Pensions/Retirement Plan Distribution - Trust JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 4 of 11 Farm/Ranch Income Gifts from Others Inheritance Insurance Settlement/Benefit Interest/Dividends Loan Repayment Oil/Gas/Mineral Royalties Other Public Assistance Other Receipts/Income Proceeds from Sale of Assets Rental Income Reverse Mortgage Payment Social Security Tax Refunds VA Benefits Wages Total Receipts/Income Enter the total projected monthly and annual amounts in Step 6. Step 2: Projected Disbursements/Expenses Indicate the cash disbursement/expense amount on both a monthly and annual basis. If an expense (such as utilities) is to be paid on a monthly basis, multiply the amount by 12 to determine the projected annual amount. If an expense (such as property taxes) is to be paid on an annual basis, divide the amount by 12 to determine the projected monthly amount. Description of Disbursement/Expense Category Projected Monthly Amount Projected Annual Amount Assisted Living/Care Facility Bank/Investment Account Fees Caregiver/In-Home Provider Charitable Contributions Clothing Collectibles Debt Repayment (excluding CC) Debt Repayment (Credit Card) Distributions-Protected Person Education/Tuition/Student Loan JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 5 of 11 Entertainment/Movies Equipment Farm/Ranch Expense Fees–Accountant/CPA Fees-Conservator–Non Prof Fees–Conservator–Professional Fees–Court Visitor Fees-Guardian–Non Prof Fees-Guardian–Professional Fees-Guardian Ad Litem (GAL) Fees-Investment Acct Management Fees-Legal for Conservator Fees-Legal for Guardian Fees–Legal for GAL Fees–Legal for Protected Person Fees–Other Professional Funeral Gifts Groceries/Hygiene/Household Supplies HOA Fees Hobbies Home Furnishings Insurance – Home/Renter Insurance – Life Insurance – Long Term Care Insurance – Other Jewelry Livestock Loan Interest Loans Medical-Doctor/Prof/Hospital Medical- Furnishings/Supplies Medical-Insurance Medical-Medicab/Transportation Medical-Medications Medical-Other Mortgage Motor Vehicle - Insurance Motor Vehicle – Loan Payments JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 6 of 11 Motor Vehicle – Registration/Other Motor Vehicle – Repairs/Maint/Fuel Moving Expenses Other Disbursement/Expense Other Transportation Pet Care Property Repairs/Maintenance Rent Restaurants/Dining Out School Supplies Services - Cleaning Services - Personal Care Subscriptions/Dues Taxes – FICA and Medicare Taxes – Income Taxes – Property and Assessments Travel/Vacations Utilities (Including Phone/Cell) Total Disbursements/Expenses Enter the total projected monthly and annual amounts in Step 6. $ $ INVENTORY Step 3: Current Assets Report the fair market value of each category of asset in the chart below as of date of appointment. By indicating “None”, you are stating affirmatively that the Protected Person does not have assets in that category. Note: If additional space is needed, separate sheets may be used. If additional items are discovered after the initial inventory has been completed, a supplemental inventory listing those additional item(s) must be completed. Cash on Hand, Bank, Checking,Savings, Certificate of Deposits, and Health Accounts (Name of Bank or Financial Institution) qNone Payable on Death Type of Account Account # (last 4- digits only) Balance $ Total $ JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 7 of 11 Stocks, Bonds, Mutual Funds, Securities, Annuities and Investment Accounts (Name of Joint Owner or Transfer on Death Beneficiary) qNone Number of Shares or Identify Account Number (last 4-digits only) Current Value $ Total $ Life Insurance (Name of Company/Beneficiary) qNone Type of Policy Face Amount of Policy Cash Value $ Total $ Pension, Profit Sharing and Retirement Funds (Name of Beneficiary) qNone Type of Plan (401(k), IRA, 457, PERA, Military, etc.) Account # (last 4-digits only, if applicable) Current Account Value (Note: Distributions should be listed in Step 1 above) $ Total $ Motor Vehicles and Recreation Vehicles (Including Motorcycles, ATV’s, Boats, etc.) (Names of Joint Owners) qNone Year Make and Model Estimated Value (Value = what you could sell it for in its current condition) $ Total $ Real Estate (Indicate address) (Name any Joint Owners) qNone Type of Property (Home, Rental, Land, etc.) Estimated Value (Value = what you could sell it for in its current condition) $ JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 8 of 11 Total $ General Household and Other Personal Property qNone Estimated Value (Value = what you could sell it for in its current condition) General Household and Other Personal Property (Total value except for items listed below.) $ Separately list and value items of significant value below, for example: Jewelry, Antiques, Collectibles, Artwork, etc. Total $ Miscellaneous Assets (List each one separately and be specific.) qNone Estimated Value (Value = what you could sell it for in its current condition) $ Total $ Total Assets Enter this amount in Step 7. $ Step 4: Accrued Liabilities to Professionals The conservator requests that the accrued expenses of this proceeding as of date of appointment as detailed below be approved by the court as identified in Step 2. Type of Professional and Name of Individual Amount Billed Account Management - Professional $ Accountant/CPA Conservator-Non Professional Conservator-Professional Court Visitor Guardian-Non Professional Guardian - Professional Guardian Ad Litem (GAL) Legal Fees - Conservator Legal Fees - Guardian Legal Fees - GAL Legal Fees - Protected Person JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 9 of 11 Other Professional Fees Total Accrued Expenses Enter totals below in Step 5 - Inventory of Liabilities/Debts. $ Step 5: Other Current Liabilities/Debts Report the value of each liability/debt in the chart below as of date of appointment as identified in Step 2. Description of Liability/Debt qNone Name of Creditor Account Number (last 4-digits only) Balance Accrued expenses associated with this proceeding (Total Step 4 above) $ Mortgage (principal due only) Motor Vehicle Loan 2 nd Mortgage/Home Improvement Student Loan/Tuition Credit Card Federal Taxes State / Local Taxes Other Loan/Liability/Debt (Please list) HELOC Reverse Mortgage Total Liabilities/Debt Enter this amount in Step 7. $ Summary Step 6: Summary of Financial Plan (Receipts/Income Minus Disbursements/Expenses) Summarize the Financial Plan below after completing the detailed accounting information in Step 1 and Step 2. Projected Monthly Projected Annual Amount Amount (A) Receipts/Income (Total from Step 1) $ _____________ $ _____________ (B) Disbursements/Expenses (Total from Step 2) $ _____________ $ _____________ Net Income: (A) minus (B) $ _____________ $ _____________ Step 7: Summary of Inventory Summarize the Inventory below after completing the detailed accounting information in Step 3 and Step 5. (A) Total Assets (Total from Step 3) $ _____________ (B) Total Liabilities/Debt (Total from Step 5) $ _____________ JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 10 of 11 Net Worth: (A) minus (B) $ _____________ q By checking this box, I am acknowledging I am filling in the blanks and not changing anything else on the form. q By checking this box, I am acknowledging that I have made a change to the original content of this form. IMPORTANT This document must be signed and dated by all conservators and served on the protected person and all interested parties, as indicated by the attached certificate of service. A conservator is required to file an amended “Financial Plan” whenever there is a change in circumstances that requires a substantial deviation from the existing plan. In addition, if the conservator finds other property not included in the original “Inventory”, or if the value of the listed property is inaccurate or misleading, the conservator must prepare and file an amended “Inventory” with the court. Copies of these amendments must be provided to all interested parties. § 15-14-418(5) C.R.S. § 15-14-419(2) C.R.S. VERIFICATION I declare under penalty of perjury under the law of Colorado that the foregoing is true and correct. Executed on the ______ day of Executed on the ______ day of (date) (date) _______________________, _________, _______________________, _________, (month) (year) (month) (year) at ______________________________________ at ______________________________________ (city or other location, and state OR country) (city or other location, and state OR country) _______________________________ _______________________________ (printed name) (printed name) _______________________________ _______________________________ (Signature of Conservator/Successor) (Signature of Co-Conservator/Successor, if any) _________________________________________ __________________ Attorney Signature, (if any) Date THIS SECTION MUST BE COMPLETED CORRECTLY AND SIGNED OR THE DOCUMENT MAY BE REJECTED. Colorado Law REQUIRES that the Conservator’s Financial Plan with Inventory and Motion for Approval be served on the PROTECTED PERSON AND INTERESTED PERSONS pursuant to the Order Appointing Conservator, including minors 12 years of age or older (§ 15-14-404(4), C.R.S.). In the space below under the Certificate of Service, list the names, addresses, and method of delivery for each party listed on the Order Appointing Conservator and provide each party with a copy of this document. JDF 882SC R6/21 CONSERVATOR’S FINANCIAL PLAN WITH INVENTORY AND MOTION FOR APPROVAL Page 11 of 11 CERTIFICATE OF SERVICE I certify that on ___________________ (date), a copy of this _______________ (name of document) was served as follows on each of the following: Name and Address Relationship to Decedent, Ward, or Protected Person Manner of Service* *Insert one of the following: hand delivery, first-class mail, certified mail, e-service, or fax. _____________________________________________ Signature