Reimbursement of expenses

Colo. Rev. Stat. § 15-5-709, under Probate, Trusts, and Fiduciaries.

Colo. Rev. Stat. § 15-5-709

(1) A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:

(a) Expenses that were properly incurred in the administration of the trust; and

(b) To the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.

(2) A reasonable advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.

Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1172, � 1, effective January 1, 2019.