Title 15, Probate, Trusts, and Fiduciaries
0 chapters · 926 sections in this title.
Colo. Rev. Stat. § 15-5-416 Modification to achieve settlor's tax objectives
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To achieve the settlor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor's probable intention. The court may provide that the modification has retroactive effect. Source: L. 2018: Entire article added, (SB 18-180), ch. 169…
Colo. Rev. Stat. § 15-5-417 Combination and division of trusts
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After notice to the qualified beneficiaries and trust directors, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair the rights of any beneficiary or adversely affect achievement of the pur…
Colo. Rev. Stat. § 15-5-501 Rights of beneficiary's creditor or assignee
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Except as provided in section 15-5-504, to the extent a beneficiary's interest is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to attach present or future distributions to or for the benefit of the beneficiary. The cour…
Colo. Rev. Stat. § 15-5-502 Spendthrift provision
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(1) A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest. (2) A term of a trust providing that the interest of a beneficiary is held subject to a spendthrift trust, or words of similar import, is sufficient to r…
Colo. Rev. Stat. § 15-5-503 Exceptions to spendthrift provision - definitions
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(1) In this section: (a) Child includes any person or entity who can enforce a child support order in this or another state. (b) Child support order means any administrative or court order requiring the payment of child support, child support arrears, child support debt, retroact…
Colo. Rev. Stat. § 15-5-504 Discretionary trusts - effect of standard - definitions
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(1) In this section: (a) Child includes any person or entity who can enforce a child support order in this or another state. (b) Child support order means any administrative or court order requiring the payment of child support, child support arrears, child support debt, retroact…
Colo. Rev. Stat. § 15-5-505 Creditor's claim against a settlor
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(1) Whether or not the terms of a trust contain a spendthrift provision, the following rules apply: (a) During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors. (b) With respect to an irrevocable trust, a creditor or a…
Colo. Rev. Stat. § 15-5-506 Overdue distribution - definition
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(1) In this section, mandatory distribution means a distribution of income or principal which the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. The term does not include a distribution subject to…
Colo. Rev. Stat. § 15-5-507 Personal obligations of trustee
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Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt. Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 943, � 1, effective September 7.
Colo. Rev. Stat. § 15-5-508 Application of part
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(1) This part 5 applies to all trusts created before, on, or after July 1, 2022. (2) This part 5 applies to all judicial proceedings concerning trusts commenced on or after July 1, 2022. (3) This part 5 applies to judicial proceedings concerning trusts commenced before July 1, 20…
Colo. Rev. Stat. § 15-5-601 (Reserved)
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C.R.S. 15-5-601Statutes current through Chapter 65 of the 2026 Regular Session, effective as of April 20, 2026. The text of this section is not final. It will not be final until compared to, and updated from, the text provided by the Colorado Office of Legislative Legal Services …
Colo. Rev. Stat. § 15-5-602 Revocation or amendment of revocable trust
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(1) Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may revoke or amend the trust. This subsection (1) does not apply to a trust created under an instrument executed before August 7, 2013. (2) Unless the terms of a trust expressly provide …
Colo. Rev. Stat. § 15-5-603 Settlor's powers
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(1) To the extent a trust is revocable by a settlor, a trustee may follow a direction of the settlor that is contrary to the terms of the trust. To the extent a trust is revocable by a settlor in conjunction with a person other than a trustee or person holding an adverse interest…
Colo. Rev. Stat. § 15-5-604 Limitation on action contesting validity of revocable trust
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(1) (a) A person must commence a judicial proceeding to contest the validity of a trust that was revocable at the settlor's death within the earlier of: (I) Three years after the settlor's death; or (II) One hundred twenty days after the trustee sent the person a copy of the trus…
Colo. Rev. Stat. § 15-5-701 Accepting or declining trusteeship
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(1) Except as otherwise provided in subsection (3) of this section, a person designated as trustee accepts the trusteeship: (a) By substantially complying with a method of acceptance provided in the terms of the trust; or (b) If the terms of the trust do not provide a method or t…
Colo. Rev. Stat. § 15-5-702 Trustee's bond
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(1) A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement. (2) The court may…
Colo. Rev. Stat. § 15-5-703 Cotrustees
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(1) Cotrustees who are unable to reach a unanimous decision may act by majority decision. (2) If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust. (3) Subject to section 15-16-812, a cotrustee shall participate in the performance of a trustee's …
Colo. Rev. Stat. § 15-5-704 Vacancy in trusteeship - appointment of successor
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(1) A vacancy in a trusteeship occurs if: (a) A person designated as trustee rejects the trusteeship; (b) A person designated as trustee cannot be identified or does not exist; (c) A trustee resigns; (d) A trustee is disqualified or removed; (e) A trustee dies; or (f) A guardian …
Colo. Rev. Stat. § 15-5-705 Resignation of trustee
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(1) A trustee may resign: (a) Upon at least thirty days' notice to the qualified beneficiaries; the settlor, if living; and all cotrustees; or (b) With the approval of the court. (2) In approving a resignation pursuant to this section, the court may issue orders and impose condit…
Colo. Rev. Stat. § 15-5-706 Removal of trustee
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(1) The settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative. (2) The court may remove a trustee if: (a) The trustee has committed a serious breach of trust; (b) Lack of cooperation among …
Colo. Rev. Stat. § 15-5-707 Delivery of property by former trustee
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(1) Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the …
Colo. Rev. Stat. § 15-5-708 Compensation of trustee
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(1) If the terms of the trust do not specify the trustee's compensation, a trustee's compensation is determined in accordance with part 6 of article 10 of this title 15. (2) If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as s…
Colo. Rev. Stat. § 15-5-709 Reimbursement of expenses
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(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 …
Colo. Rev. Stat. § 15-5-801 Duty to administer trust
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Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this article 5. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1172, �…
Colo. Rev. Stat. § 15-5-802 Duty of loyalty
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(1) A trustee shall administer the trust solely in the interests of the beneficiaries. (2) Subject to the rights of persons dealing with or assisting the trustee as provided in section 15-5-1012, a sale, encumbrance, or other transaction involving the investment or management of …
Colo. Rev. Stat. § 15-5-803 Impartiality
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If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, taking into account any differing interests of the beneficiaries. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1174, � 1, ef…
Colo. Rev. Stat. § 15-5-804 Prudent administration
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A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution. Source: L. 2018: Entir…
Colo. Rev. Stat. § 15-5-805 Costs of administration
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In administering a trust, the trustee may incur only costs that are appropriate and reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1174, � 1, effective January…
Colo. Rev. Stat. § 15-5-806 Trustee's skills
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A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. …
Colo. Rev. Stat. § 15-5-807 Delegation by trustee
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(1) A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in: (a) Selecting an agent; (b) Establishing the scope and terms of the delegat…
Colo. Rev. Stat. § 15-5-808 Powers to direct. (Reserved)
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C.R.S. 15-5-808Statutes current through Chapter 65 of the 2026 Regular Session, effective as of April 20, 2026. The text of this section is not final. It will not be final until compared to, and updated from, the text provided by the Colorado Office of Legislative Legal Services …
Colo. Rev. Stat. § 15-5-809 Control and protection of trust property
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A trustee shall take reasonable steps to take control of and protect the trust property. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1175, � 1, effective January 1, 2019.
Colo. Rev. Stat. § 15-5-810 Record keeping and identification of trust property
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(1) A trustee shall keep adequate records of the administration of the trust. (2) A trustee shall keep trust property separate from the trustee's own property. (3) (a) Except as otherwise provided in subsection (4) of this section, a trustee shall cause the trust property to be d…
Colo. Rev. Stat. § 15-5-811 Enforcement and defense of claims
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A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust of which the trustee has knowledge. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1175, � 1, effective January 1, 2019.
Colo. Rev. Stat. § 15-5-812 Collecting trust property
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A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee and to redress a breach of trust known to the trustee to have been committed by a former trustee. Source: L. 2018: Entire article added, (SB 18-180), ch. 169,…
Colo. Rev. Stat. § 15-5-813 Duty to inform and report
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(1) A trustee shall keep the qualified beneficiaries of the trust reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests. Unless unreasonable under the circumstances, a trustee shall promptly respond to a …
Colo. Rev. Stat. § 15-5-814 Discretionary powers - tax savings
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(1) (a) Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as absolute, sole, or uncontrolled, the trustee shall exercise a discretionary power in good faith. The parameters for that exercise are established b…
Colo. Rev. Stat. § 15-5-815 General powers of trustee
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(1) A trustee, without authorization by the court, may exercise: (a) Powers conferred by the terms of the trust; and (b) Except as limited by the terms of the trust: (I) All powers over the trust property that an unmarried competent owner has over individually owned property; (II…
Colo. Rev. Stat. § 15-5-816 Specific powers of trustee
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(1) Without limiting the authority conferred by section 15-5-815, and in addition to the powers conferred pursuant to the Colorado Fiduciaries' Powers Act, part 8 of article 1 of this title 15, a trustee may: (a) Collect trust property and accept or reject additions to the trust …
Colo. Rev. Stat. § 15-5-817 Distribution on termination
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(1) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thir…
Colo. Rev. Stat. § 15-5-818 Reimbursement for taxes - definitions
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(1) As used in this section: (a) Independent trustee means a trustee who is not related or subordinate to the settlor within the meaning of section 672 (c) of the federal Internal Revenue Code of 1986, as amended. (b) Settlor means the grantor or another person treated as the own…
Colo. Rev. Stat. § 15-10-101 Short title
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Articles 10 to 17 of this title shall be known and may be cited as the Colorado Probate Code and is referred to in said articles as this code or code. Source: L. 73: R&RE, p. 1538, � 1. C.R.S. 1963: � 153-1-101.
Colo. Rev. Stat. § 15-10-102 Purposes - rule of construction
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(1) This code shall be liberally construed and applied to promote its underlying purposes and policies. (2) The underlying purposes and policies of this code are: (a) To simplify and clarify the law concerning the affairs of decedents, missing persons, protected persons, minors, …
Colo. Rev. Stat. § 15-10-103 Supplementary general principles of law applicable
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Unless displaced by the particular provisions of this code, the principles of law and equity supplement its provisions. Source: L. 73: R&RE, p. 1539, � 1. C.R.S. 1963: � 153-1-103.
Colo. Rev. Stat. § 15-10-104 Severability
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If any provision of this code or the application thereof to any person or circumstances is held invalid, the invalidity shall not affect other provisions or applications of the code which can be given effect without the invalid provision or application, and to this end the provis…
Colo. Rev. Stat. § 15-10-105 Construction against implied repeal
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This code is a general act intended as a unified coverage of its subject matter, and no part of it shall be deemed impliedly repealed by subsequent legislation if it can reasonably be avoided. Source: L. 73: R&RE, p. 1539, � 1. C.R.S. 1963: � 153-1-105.
Colo. Rev. Stat. § 15-10-106 Effect of fraud and evasion
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Whenever fraud has been perpetrated in connection with any proceeding or in any statement filed under this code or if fraud is used to avoid or circumvent the provisions or purposes of this code, any person injured thereby may obtain appropriate relief against the perpetrator of …
Colo. Rev. Stat. § 15-10-106.5 Petition to determine cause and date of death resulting from disaster - body unidentifiable or missing
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(1) If the occurrence of a disaster has been declared by proclamation of the governor under section 24-33.5-704, C.R.S., and it appears that a person has died as a direct result, but the remains have not been located or are unidentifiable, the coroner, sheriff, or district attorn…
Colo. Rev. Stat. § 15-10-107 Evidence of death or status
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(1) In addition to the rules of evidence in courts of general jurisdiction, the following rules relating to a court determination of death and status apply: (a) Death occurs when an individual is determined dead under section 12-240-140. (b) An authenticated copy of a death certi…
Colo. Rev. Stat. § 15-10-108 Acts by holder of general power
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For the purpose of granting consent or approval with regard to the acts or accounts of a personal representative or trustee, including relief from liability or penalty for failure to post bond, to register a trust, or to perform other duties, and for purposes of consenting to mod…