Colorado Code § 15-12-912

Private agreements among successors to decedent binding on personal
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representative. Subject to the rights of creditors, competent successors may agree among
themselves to alter the interests, shares, or amounts to which they are entitled under the will of
the decedent or under the laws of intestacy in any way that they provide in a written agreement,
whether or not supported by a consideration, executed by all who are affected by its provisions.
The personal representative shall abide by the terms of the agreement subject to his or her
obligation to administer the estate for the benefit of creditors, to pay all taxes and costs of
administration, and to carry out the responsibilities of his or her office for the benefit of any
successors of the decedent who are not parties. Personal representatives of decedents' estates are
not required to see to the performance of trusts if the trustee thereof is another person who is
willing to accept the trust. Accordingly, trustees of a testamentary trust are successors for the
purposes of this section. Nothing in this section relieves trustees of any duties owed to
beneficiaries of trusts.

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