Detailed answer — how Colorado handles bonds for personal representatives when there is no will

A bond (also called a fiduciary bond or probate bond) is a form of insurance that protects the estate and the estate’s beneficiaries against mismanagement by the personal representative (the person the court appoints to administer the estate). Under Colorado law, the default rule is that a personal representative must give a bond unless the statute or the court dispenses with that requirement.

When someone dies intestate (without a valid will), the court appoints an administrator (a type of personal representative). Because there is no will that could contain a waiver, a bond is typically required by the court at the time of appointment unless the court orders otherwise.

However, Colorado law and practice provide ways that a bond requirement can be reduced or waived:

• Unanimous written waiver by interested persons: The people who have an interest in the estate (the heirs or other statutory distributees) can sign a written waiver or consent agreeing that the appointed administrator serve without a bond. If all interested parties entitled to notice sign a proper written waiver and file it with the court, the court will often accept the waiver and dispense with bond. Because the waiver removes the protection a bond provides, the waiver must be clear and effectively executed.
• Court discretion: Even without a unanimous waiver, the probate judge has discretion to require, reduce, or dispense with bond based on the circumstances. If the court is satisfied that the personal representative is trustworthy, that estate assets are minimal, or that other security (for example, an institutional fiduciary willing to act without a bond) is available, the judge can order no bond or a smaller bond amount.
• Will waivers do not apply: If the decedent left a will, the will can waive or limit bond for the personal representative. But in intestate cases there is no will-based waiver, so the parties must rely on the written consents of heirs or a court order.

Practical points about the waiver route:

• All interested persons should sign the waiver. If anyone entitled to notice refuses, the court may treat the matter as contested and require a bond.
• The waiver should be properly executed, filed with the petition for administration (or filed promptly after petition), and should identify the estate and clearly waive the bond requirement for the appointed personal representative.
• The court will still review the petition and may request more information before accepting a waiver. The court’s duty is to protect the estate and creditors, so judges sometimes require a bond even when heirs agree to a waiver if they believe protection is needed.

If the court orders a bond, the administrator normally secures the bond through a surety company. The court sets the bond amount based on the estate’s value and risk. A person who cannot qualify for a surety bond may be able to post alternative security (cash, real property, or other acceptable collateral) if the court approves.

Where to look in the law: Colorado’s probate rules and statutes about personal representatives and bond are in Colorado’s probate statutes (Title 15). For statutory language and local court procedures, see Colorado Revised Statutes, Title 15 (Probate), and the Colorado Judicial Branch probate forms and guidance pages. For the statutory framework, visit the Colorado General Assembly’s statutes pages for Title 15: https://leg.colorado.gov/. For court forms and practical filing rules, see the Colorado Judicial Branch probate forms and information: https://www.courts.state.co.us/Forms/Index.cfm?Category=Probate.

Hypothetical example (how this plays out)

Imagine a parent dies in Colorado without a will, leaving three adult children and modest assets (a house with a mortgage and a small bank account). The children agree that one of them should administer the estate. They can do the following:

1. File a petition for appointment of administrator in the county probate court where the decedent lived.
2. Prepare and sign a written waiver of bond (or set of waivers) stating that each heir consents to appointment of the named administrator and waives the requirement that the administrator post a bond.
3. File the waivers with the petition. The court will review the petition, the waivers, and the estate facts, then either appoint the administrator without bond, require a bond, or set a limited bond.

If one sibling objects or refuses to sign, the court may require a bond. If the estate has significant assets or creditors, the judge might also require a bond even with signed waivers to protect creditors and the public interest.

Helpful hints — steps you can take and what to watch for

• File a petition promptly: Start the probate process quickly to reduce creditor and administrative complications.
• Get written waivers from every heir: A unanimous written waiver gives the court a clear basis to consider dispensing with bond.
• Use the court’s forms: Courts often have standard waiver and consent forms—use them if available and follow local rules for filing and notice. Check the Colorado Judicial Branch forms page: https://www.courts.state.co.us/Forms/Index.cfm?Category=Probate.
• Expect the court to weigh the estate’s size and risk: Small, simple estates are more likely to qualify for a waiver; large or debt-heavy estates less so.
• Consider an institutional fiduciary: Banks or trust companies sometimes serve without a surety bond or with different security arrangements—this is an alternative if heirs cannot agree.
• Document everything: Keep signed waivers, copies of petitions, inventories, and court orders in the estate file.
• Talk to a probate attorney: If heirs disagree or the estate is complicated (creditor claims, real property, business interests), a lawyer can advise on strategy and help draft enforceable waivers and petitions.