C. Neil Beer, MajGen, USAF (ret) today expressed multiple concerns on behalf of veteran organizations regarding HB 10-1105, now pending in the Colorado State Senate.
According to General Beer, “HB 10-1105 reverses 33 years of legislative protections for veterans, their families or survivors, many of whom are incapacitated, senior citizens, and disabled persons who need a guardianship or conservatorship... people who unfortunately find themselves in probate court.”
 The Bill would turn back the clock, overruling the 1977 Painter case which did away with percentage fees paid to fiduciaries and instead required reasonable fees to be calculated based on the actual work performed. HB 10-1105 would now permit banks or fiduciaries to charge whatever they deem “customary”, thereby granting new leeway in what banks and probate lawyers may charge.
“What could be even worse,” General Beer added, "if you have a bank or trust company as your conservator or guardian and you want to challenge their fees, under HB 10-1105 they only need to demonstrate that they operated in ‘good faith’ and that their fee was ‘customary’ … forcing you to not only pay their fees, but also their attorney fees involved in defending your challenge to them.”
President of the Pikes Peak Chapter of the Military Officers Association of America, Colonel Lennie Coleman, commented, "If this bill passes, Colorado will be a less desirable location for both our veterans and our disabled heroes to call home."
It’s not too late.
According to Julie Reiskin, representing the Colorado Cross-Disability Coalition, “HB 10-1105, which flies under the false colors of judicial efficiency, is instead a naked assault by probate lawyers, professional fiduciaries, large banks and trust institutions on the most vulnerable elements of our society.
"The disabled, elderly, wounded veterans, the cognitively impaired and their loved ones will see their limited resources drained without any meaningful opportunity for judicial review.
"Passage of this bill will establish Colorado as among the most hostile environments for those least able to defend themselves.”
Contact information for all Colorado State Senators can be found online.
To read the actual text of the Bill, go to this webpage. |