Conservator's Report

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 Report 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 Report

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

• 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 885 SC - Conservator's Report 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 885 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 885 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 885 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 Report 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 885 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 885 SC, and when in doubt— consult a qualified trust & estates lawyer for that area.

Conservator's Report 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 885 SC - Conservator's Report 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 Report 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 885 SC - Conservator's Report. You can use this to get an idea of the context of the form and what type of information is needed.

JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 1 of 12 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 REPORT q ADULT q MINOR q ANNUAL REPORT q AMENDED REPORT CURRENT REPORTING PERIOD FROM ________________TO __________________ (MM/DD/YYYY) (MM/DD/YYYY) qINTERIM REPORT DUE ON _________________________ qFINAL REPORT If Final Report, indicate why: qProtected Person deceased qMinor turned 21 qJudicial Order PART A: CONTACT INFORMATION Protected Person’s Information: q Check if Updated Information from last Report Name:__________________________________________________ Age: _________________ Street Address: (Include Name of Living Center or Nursing Home) City: State: Zip Code: Mailing Address, if different: _______________________________________________________________ Primary Phone: Alternate Phone: _____________________ Conservator’s Information: qCheck if Updated Information from last Report Name: ____________________________________________________ Age: ________________ 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: __________________________________________________________ Have you had any criminal charges filed against you or convictions entered since the last report? qYes q No If Yes, explain: _____________________________________________________________________________ Co-Conservator’s Information: (if applicable) qCheck if Updated Information from last Report JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 2 of 12 Name: ____________________________________________________Age: _______________ 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: ________________________________________________________________________ Have you had any criminal charges filed against you or convictions entered since the last report? q Yes q No If Yes, explain: ______________________________________________________________________________ *** 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 will not review or adjudicate these or other matters unless specifically requested to do so by an interested person. PART B: CONSERVATORSHIP ISSUES 1. Is there a continued need for the conservatorship? 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. 2. Are the remaining assets in the estate 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. 3. 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. 4. Attach a copy of the bond to this report, unless the bond was waived or not required by the court. What is the amount of the bond? $ ________________. Is the amount of the bond sufficient to cover all unrestricted assets? qYes qNo If No, describe why and what steps should be taken. If you are requesting a change to the bond, you must file a motion with the court. INSTRUCTIONS ON HOW TO COMPLETE THIS FORM The Conservator’s Report must be filed annually pursuant to §15-14-420, C.R.S. Part C of this report concerns the information necessary to satisfy the court that the conservator has maintained a complete accounting of all financial transactions and managed the protected person’s estate responsibly. Step 1 is a financial transaction detail and should be completed for each bank or investment account. A spreadsheet or report from personal accounting software may also be submitted in lieu of completing the transaction detail. JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 3 of 12 Steps 2 and 3 summarize the income and expense for the reporting period and compare those amounts to the previous period or the Financial Plan. Explain the cause for any changes between the current period amounts and amounts from the prior period or the Financial Plan. Step 4 reports additional detail for fees paid to professionals including the hourly rate, number of hour worked, and description of services provided. Steps 5 and 6 summarize assets and liabilities as of the reporting date and compare those amounts to the previous period or the Inventory. In addition to explaining the cause for any changes between the current period amounts and amounts from the prior period or the Inventory, provide specific detail regarding any asset purchases or sales. Step 7 is a summary. Transfer the respective income and expense totals from Steps 2 and 3 as well as the asset and liability totals in steps 5 and 6 to the appropriate lines in Step 7 to calculate the net income and net worth. Part C: FINANCIAL INFORMATION Step 1: Detail Listing of Receipts/Income and Disbursements/Expenses Complete this Detail for all bank accounts. Make additional copies of this form as necessary. Alternatively, Check Register form JDF 871, a spreadsheet, or a report from personal accounting software may be attached. Please list all transactions, including Income (deposits) and Expenses (withdrawals), for the entire reporting period. Each Receipt/Income item should be listed in the Amount Received column and each Disbursement/Expense item should be listed in the Amount Disbursed column. ** Note: This report should resemble a check register for each bank account. Name of Bank: __________________________________ Account Number (last 4-digits only): __________ Date Check or I.D. No. Description of item Received or Disbursed, include Name of Payee (if Disbursement) Amount Received Amount Disbursed Page ____________ of _______ May continue entries on Check Register Form JDF 871 $ $ q Check here if additional detailed spreadsheets are attached to this report. JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 4 of 12 Individual Bank Account Summary Beginning Cash Balance $ _____________ (Balance from prior year Report or Inventory) Add: Total Amount of Income + $ _____________ (Total Income received from detail above) Add: Total Amount Received as Transfer + $ _____________ (Total transferred from other bank accounts) Less: Total Amount Disbursed - $ _____________ (Total disbursements from detail above) Less: Total Amount Transferred out - $ _____________ (Total transfers moved to other accounts) Ending Cash Balance = $ _____________ (Transfer this account balance to Step 5.) (This will be the beginning balance on next year’s report) Step 2: Receipts and Income Column A: Is this the first annual Conservator’s Report filed? qYes qNo If Yes, use the amounts from the Inventory with Financial Plan (JDF 882) to complete Column A that is marked with an asterisk (*) below. If No, use the amounts from the prior Conservator’s Report filed to complete Column A that is marked with an asterisk (*) below. Column B: Transfer all individual income category totals from completed Detail Listing in Step 1 or attached spread sheet. Column C: Calculate and record the difference between Column A and Column B. Description of Receipt/Income Category List Total Receipts/Income from Detail Listing (From Step 1 or Separate Spreadsheet) Column A *Total Amount of Receipts / Income from qPrior Reporting Period or qFinancial Plan Column B Total Amount of Receipts / Income for Current Reporting Period Column C Change in Amount of Receipt/ Income Indicate +/- Asset Not Previously Reported Business Income Court Order Repayment Disability/Unemployment/Worker’s Comp Distribution - Annuity Distribution – Pensions/Retirement Plan Distribution – Trust 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 JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 5 of 12 Reverse Mortgage Payment Social Security Tax Refunds VA Benefits Wages TOTALS (Move to Step 7) Have Total Receipts/Income in Column B changed from the Prior Reporting Period or Financial Plan totals in Column A ? qYes qNo If Yes, explain the changes below. Please include a description of any changes or unanticipated transactions. If income and expenses are anticipated to differ going forward, it may be necessary to file an Amended Inventory with Financial Plan and Motion for Approval (JDF 882) or a separate petition for approval with the court. Step 3: Disbursements/Expenses Column A: Use the amounts from the Inventory with Financial Plan (JDF 882) or from the prior Conservator’s Report filed to complete Column A that is marked with an asterisk (*) below. Column B: Transfer all individual expense category “totals” from completed Detail Listing in Step 1 or attached spread sheet. Column C: Calculate and record the difference between Column A and Column B. Description of Disbursement / Expense Category List Total Disbursements/Expenses from Detail Listing (From Step 1 or Separate Spreadsheet) Column A *Total Amount of Disbursement / Expense from qPrior Reporting Period or qFinancial Plan Column B Total Amount of Disbursement / Expense for Current Reporting Period Column C Change in amount of Disbursement/ Expense Indicate +/- 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 Entertainment/Movies Equipment Farm/Ranch Expense Fees – Accountant/CPA Fees – Conservator – Non-Prof JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 6 of 12 Fees – Conservator-Prof Fees – Court Visitor Fees – Guardian – Non-Prof Fees – Guardian - Prof 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 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 JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 7 of 12 Taxes – FICA and Medicare Taxes – Income Taxes – Property and Assessments Travel/Vacations Utilities (Including Phone/Cell) TOTALS (Move these totals to Step 7) Step 4: Conservator, Guardian, and Professional Fees Detail List all conservators, guardians, and professionals paid. Include the hourly rate, number of hours worked, fees and costs, as well a description of the services provided and the benefit to the estate. Name of Conservator, Guardian, and Professional Hourly Rate (Range) No. of Hours Worked Total Hourly Fees Other Costs Charged Brief Description of Services Provided and Benefit to the Estate 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 Other Professional Fees TOTAL (Fees and Costs) (Move these totals to Step 3) Have Total Disbursements/Expenses in Step 3, Column B q Increased or q Decreased from the Prior Reporting Period or Financial Plan in Step 3, Column A? Explain the changes below. Please include a description of any changes or unanticipated transactions. A separate petition for approval may need to be filed with the court for significant changes outside the amounts allowed in the Inventory and Financial Plan. JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 8 of 12 Step 5: Assets Column A: List the last 4 digits of all bank, investment or other financial accounts. Column B: List name of the bank or financial institution in which accounts are being held, or describe specific asset. Column C: Use amounts from the original Inventory with Financial Plan (JDF 882) or from the prior Conservator’s Report filed, to complete Column C marked with an asterisk (*) below. Column D: List all cash and investment account balances. These should coincide and be transferred from the Ending Cash Balances on the Detail Listing in Step 1. Column E: Calculate and record the difference between Column C and Column D. Vehicles, real estate, and all other assets should be valued at what the asset could be sold for in its current condition (i.e. Fair Market Value). Description of Asset (Identify all accounts) Column A Account Number (last 4 digits) Column B Name of Financial Institution or Description of Asset Column C * Fair Market Value qas of Last Day of Prior Reporting Period or qInventory Column D Fair Market Value (as of Last Day of Current Reporting Period) Column E Change in Value of Asset Indicate +/- Checking Accounts Balance from Step 1 Savings Accounts Balance from Step 1 Certificate of Deposit Money Market Pre-Paid Debit Card Cash On Hand Stocks Bonds Mutual Fund Other Financial Investments Life Insurance (Cash Value) Pension/Retirement (Vested) IRA / 401(k) Annuities Loans from Estate Motor Vehicle JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 9 of 12 Real Estate Home Furnishings Collectibles (e.g., stamps or coins) Jewelry Livestock Equipment Oil/Gas/Mineral Interest Other Personal Property List Other Assets TOTALS (Move these totals to Step 7) Have Total Assets in Step 5, Column D changed from the last day of the Prior Reporting Period or Inventory in Step 5, Column C? qYes qNo Provide additional detail for any assets on the preceding schedule that were purchased during the reporting period. Include a description of the asset purchased, the purchase price, purchase date, and source of funding for the purchase (e.g. cash, loan, sale of another other asset, etc.). Description of Asset Purchase Price Purchase Date Purchase method Provide detail for any assets on the preceding schedule that were sold during the reporting period. Include a description of the asset sold, the sale price, sale date, and use of funds proceeds from the sale (e.g. living expenses, extinguish debt, purchase of another asset, etc.). Description of Asset Sale Price Sale Date Use of Proceeds JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 10 of 12 Please include a description of any other changes to the value of estate assets. Step 6: Liabilities/Debts Column A: List the last 4 digits of all account or loan numbers. Column B: List the name of the bank or financial institution to which loans or debts are being paid. Column C: Use amounts from the original Inventory with Financial Plan (JDF 882) or from the prior Conservator’s Report filed, to complete Column C marked with an asterisk (*) below. Column D: List all current balances due on loans and debts. Column E: Calculate and record the difference between Column C and Column D. Description of Liability/Debt (Identify all accounts) Column A Account Number (last 4-digits only) Column B Name of Financial Institution Column C *Balance Due on Last day of qPrior Reporting Period or qInventory Column D Balance Due on Last Day of Current Reporting Period Column E Change in Amount of Liability Indicate +/- Mortgage (principal due only) Motor Vehicle Loan 2 nd Mortgage/Home Improvement Student Loan/Tuition Reverse Mortgage HELOC Credit Card Federal Taxes State / Local Taxes Other Loan/Liability/Debt TOTALS (Move these totals to Step 7) Have Total Liabilities/Debts changed from the last day of the Prior Reporting Period or Inventory? JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 11 of 12 qYes qNo If Yes, explain the changes below. Please include a description of any changes or unanticipated transactions. A separate petition for approval may need to be filed with the court for significant changes outside the amounts allowed in the Inventory and Financial Plan. Step 7: Summary Summary of Financial Activity *Prior Reporting Period Current (or Financial Plan) Reporting Period (A) Total Receipts/Income from Step 2 $ _____________ $ _____________ (B) Total Disbursements/Expenses from Step 3 $ _____________ $ _____________ (A) minus (B) = Net Income $ _____________ $ _____________ Summary of Net Worth Fair Market Value of Assets Minus Liabilities/Debts *Last Day of Last Day of Prior Reporting Period Current Reporting Period (or Inventory) (A) Total Assets from Step 5 $ _____________ $ _____________ (B) Total Liabilities/Debts from Step 6 $ _____________ $ _____________ (A) minus (B) = Net Worth $ _____________ $ _____________ 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. ******** REPORT 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 ******** JDF 885SC R6/21 CONSERVATOR’S REPORT – ADULT OR MINOR Page 12 of 12 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 IMPORTANT THIS SECTION MUST BE COMPLETED CORRECTLY AND SIGNED OR THE REPORT MAY BE REJECTED. Colorado Law REQUIRES that the Conservator’s Report be served on the PROTECTED PERSON AND INTERESTED PERSONS pursuant to 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 Report. 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 NOTE: If you wish to change the persons entitled to receive copies of reports or other documents filed, you must file a separate motion with the court.