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Звірено із законами Колорадо 2026-10-07. Загальна інформація, не юридична консультація; офіційний текст має пріоритет.
Article 5, Part 1: General provisions and definitions
- C.R.S. §15-5-103 ↗ Definitions
- Defines the terms the Colorado Uniform Trust Code uses — among them "beneficiary", "qualified beneficiary" (a beneficiary who, on the date qualification is determined, is a distributee or permissible distributee, would be one if those interests ended that day, or would be one if the trust ended that day), "settlor", "terms of a trust" and "trustee".
- C.R.S. §15-5-105 ↗ Default and mandatory rules
- The code governs a trust except as its terms provide, and lists the rules the terms cannot override — among them good faith, the court's powers, the notice duty of section 15-5-813(2)(b) and (2)(c) toward current distributees and permissible distributees at any age and other qualified beneficiaries who have attained 25, and the duty to answer an irrevocable trust's qualified beneficiary's request for reports.
- C.R.S. §15-5-107 ↗ Governing law
- The meaning and effect of a trust's terms are determined by the law the terms designate, unless that is contrary to a strong public policy of the jurisdiction with the most significant relationship to the matter; absent a designation, by that jurisdiction's law.
- C.R.S. §15-5-108 ↗ Principal place of administration
- Terms designating a trust's principal place of administration are valid and controlling if a trustee is resident or administration occurs there; the trustee keeps administration at an appropriate place and may transfer it after at least 60 days' notice to the qualified beneficiaries, a timely objection ending the trustee's authority to transfer this way.
- C.R.S. §15-5-109 ↗ Methods and waiver of notice in matters other than judicial proceedings
- A notice or document under the code is sent by a method reasonably suitable and likely to result in receipt — first-class mail, personal delivery, delivery to the last-known residence or place of business, or a properly directed electronic message; a person whose identity or location is unknown and not reasonably ascertainable need not receive it, with the trustee's efforts documented; notice may be waived.
- C.R.S. §15-5-110 ↗ Others treated as qualified beneficiaries
- Where notice to the qualified beneficiaries is required, the trustee also notifies any other beneficiary who has asked for notice; a charitable organization expressly designated to receive distributions under a charitable trust, a person appointed to enforce a trust for an animal or another noncharitable purpose, and the Attorney General for a charitable trust administered in Colorado have the rights of a qualified beneficiary.
- C.R.S. §15-5-111 ↗ Nonjudicial settlement agreements
- Any person may enter into a binding nonjudicial settlement agreement on any matter involving a trust; it is valid only to the extent it does not violate a material purpose of the trust and includes terms a court could properly approve; any person whose interest may be affected may ask the court to approve or disapprove it.
Article 5, Part 2: The court, and registration
- C.R.S. §15-5-201 ↗ Role of court in administration of trust
- The court intervenes in a trust's administration only when its jurisdiction is invoked by an interested person or as the law provides; a trust is not subject to continuing judicial supervision unless the court orders it.
- C.R.S. §15-5-203 ↗ Subject matter jurisdiction
- The district court — in the City and County of Denver, the probate court — has exclusive jurisdiction of proceedings by a trustee, trust director or beneficiary concerning a trust's administration, and concurrent jurisdiction of other proceedings involving trusts and third parties, such as creditors or debtors of trusts.
- C.R.S. §15-5-205 ↗ Registration of trusts
- The trustee of a trust administered in Colorado may, after accepting the trust, register it in the court at the principal place of administration; a revocable trust is registered only after the settlor's power to revoke has ended.
- C.R.S. §15-5-206 ↗ Registration procedures and content of statement
- Registration is by a trust registration statement identifying the trust and the trustee, who acknowledges the trusteeship; within 60 days after filing, the trustee notifies in writing the cotrustees, the qualified beneficiaries and others with authority under the terms; the statement says that the court will not routinely review the trust and that interested persons must protect their own rights.
- C.R.S. §15-5-207 ↗ Effect of failure to register
- A trustee who has not registered is subject to the jurisdiction of any court where the trust could have been registered for proceedings a beneficiary begins; a trustee who fails to register within 30 days after a settlor's or qualified beneficiary's written demand may be subject to removal or surcharge as the court directs.
Article 5, Parts 4–6: Modification and termination, creditors, revocable trusts
- C.R.S. §15-5-410 ↗ Modification or termination of trust - proceedings for approval or disapproval
- A trust terminates to the extent it is revoked or expires under its terms, no purpose of it remains to be achieved, or its purposes have become unlawful, contrary to public policy or impossible to achieve; a trustee or beneficiary may ask the court to approve or disapprove a proposed modification or termination, or a trust combination or division.
- C.R.S. §15-5-412 ↗ Modification or termination because of unanticipated circumstances or inability to administer trust effectively
- The court may modify a trust's administrative or dispositive terms, or terminate it, if circumstances the settlor did not anticipate mean doing so would further the trust's purposes, or modify its administrative terms if continuing them would be impracticable or wasteful.
- C.R.S. §15-5-502 ↗ Spendthrift provision
- A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest; a provision saying the interest is held subject to a spendthrift trust is enough; a beneficiary may not transfer an interest in violation of it, and a creditor or assignee may not reach the interest or a distribution before the beneficiary receives it.
- C.R.S. §15-5-503 ↗ Exceptions to spendthrift provision - definitions
- A spendthrift provision cannot be enforced against a child with a child support order against the beneficiary, or a judgment creditor who provided essential services for the protection of the beneficiary's interest — except where applying this would affect a special needs trust's treatment or a person's eligibility for public benefits; such a claimant's only remedy is a court order attaching present or future distributions.
- C.R.S. §15-5-504 ↗ Discretionary trusts - effect of standard - definitions
- Whether or not a trust has a spendthrift provision, a creditor of a beneficiary may not compel a distribution that is subject to the trustee's discretion, even if the discretion is expressed as a standard or the trustee has abused it — except that a court may order a distribution to satisfy a child support order where the trustee has not complied with a standard or has abused a discretion.
- C.R.S. §15-5-505 ↗ Creditor's claim against a settlor
- A revocable trust's property is subject to the settlor's creditors during the settlor's life; an irrevocable trust's creditor may reach the most that could be distributed for the settlor; after the settlor's death, the property of a trust that was revocable at death is subject to claims and allowances as section 15-15-103 provides.
- C.R.S. §15-5-506 ↗ Overdue distribution - definition
- A creditor or assignee of a beneficiary may reach a mandatory distribution the trustee has not made within a reasonable time after the designated distribution date, whether or not the trust has a spendthrift provision.
- C.R.S. §15-5-507 ↗ Personal obligations of trustee
- Trust property is not subject to the personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.
- C.R.S. §15-5-603 ↗ Settlor's powers
- While a trust is revocable by the settlor, the trustee may follow the settlor's direction even if it is contrary to the terms, the beneficiaries' rights are subject to the settlor's control, and the trustee's duties are owed exclusively to the settlor.
- C.R.S. §15-5-604 ↗ Limitation on action contesting validity of revocable trust
- A proceeding to contest a trust that was revocable at the settlor's death must begin within the earlier of three years after the death or 120 days after the trustee sent the person a copy of the trust instrument and a notice of the trust's existence, the trustee's name and address and the time allowed — an absolute bar; the trustee may distribute after the death unless a contest is pending or a contestant gives notice and sues within 60 days.
Article 5, Part 7: The office of trustee
- C.R.S. §15-5-701 ↗ Accepting or declining trusteeship
- A person designated as trustee accepts by substantially complying with a method of acceptance the terms provide, or — where the terms provide none or the method is not exclusive — by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance; not accepting within a reasonable time after knowing of the designation is rejecting it.
- C.R.S. §15-5-703 ↗ Cotrustees
- Cotrustees unable to reach a unanimous decision may act by majority; each cotrustee participates unless unavailable or properly delegated, uses reasonable care to prevent and remedy a cotrustee's serious breach, and a dissenting trustee who joins at the majority's direction after giving notice of the dissent is not liable unless the action is a serious breach.
- C.R.S. §15-5-705 ↗ Resignation of trustee
- A trustee may resign on at least 30 days' notice to the qualified beneficiaries, the settlor if living and all cotrustees, or with the court's approval; resigning does not discharge the trustee's liability for acts or omissions while serving.
- C.R.S. §15-5-706 ↗ Removal of trustee
- The settlor, a cotrustee or a beneficiary may ask the court to remove a trustee, and the court may remove one for a serious breach of trust, lack of cooperation among cotrustees, unfitness, unwillingness or persistent failure to administer effectively, or a substantial change of circumstances, as the statute sets out.
- C.R.S. §15-5-707 ↗ Delivery of property by former trustee
- Unless a cotrustee remains or the court orders otherwise, a trustee who has resigned or been removed keeps the duties of a trustee and the powers needed to protect the trust property until it is delivered to a successor or other person entitled to it, and proceeds expeditiously to deliver it.
- C.R.S. §15-5-708 ↗ Compensation of trustee
- Where the terms do not specify the trustee's compensation, it is determined under part 6 of article 10 of title 15 (reasonable compensation); where they do, the trustee is compensated as specified, but the court may allow more or less if the specified compensation would be unreasonably low or high.
- C.R.S. §15-5-709 ↗ Reimbursement of expenses
- A trustee is reimbursed from the trust property, with interest as appropriate, for expenses properly incurred in administering the trust, and to the extent necessary to prevent unjust enrichment for expenses that were not; a reasonable advance for the trust's protection carries a lien.
Article 5, Part 8: Duties and powers of trustees
- C.R.S. §15-5-801 ↗ Duty to administer trust
- On accepting a trusteeship, the trustee administers the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with the code.
- C.R.S. §15-5-802 ↗ Duty of loyalty
- The trustee administers the trust solely in the beneficiaries' interests; a transaction for the trustee's own account or otherwise affected by a conflict between personal and fiduciary interests is voidable by an affected beneficiary unless the statute's exceptions apply, such as authorization by the terms, court approval or the beneficiary's consent; transactions with the trustee's family and businesses are presumed affected by a conflict.
- C.R.S. §15-5-803 ↗ Impartiality
- If a trust has two or more beneficiaries, the trustee acts impartially in investing, managing and distributing the trust property, taking into account any differing interests of the beneficiaries.
- C.R.S. §15-5-804 ↗ Prudent administration
- A trustee administers the trust as a prudent person would, considering its purposes, terms, distribution requirements and other circumstances, exercising reasonable care, skill and caution.
- C.R.S. §15-5-807 ↗ Delegation by trustee
- A trustee may delegate duties and powers a prudent trustee of comparable skills could properly delegate, using reasonable care in selecting the agent, setting the scope and terms of the delegation and periodically reviewing the agent; a trustee who does so is not liable for the agent's decisions or actions.
- C.R.S. §15-5-809 ↗ Control and protection of trust property
- A trustee takes reasonable steps to take control of and protect the trust property.
- C.R.S. §15-5-810 ↗ Record keeping and identification of trust property
- A trustee keeps adequate records of the administration, keeps trust property separate from the trustee's own, and has it designated so that the trust's interest appears in records kept by someone other than a trustee or beneficiary, to the extent feasible.
- C.R.S. §15-5-813 ↗ Duty to inform and report
- A trustee keeps the qualified beneficiaries reasonably informed and responds promptly to their requests; furnishes on request the portions of the trust instrument that describe or affect the requester's interest; within 60 days after accepting, notifies them of the acceptance and the trustee's name, address and telephone number; within 60 days after learning a trust is irrevocable, notifies them of its existence, the settlor, and their rights to request those portions and to a report; gives advance notice of a change in compensation; and sends a report at least annually and at termination. A qualified beneficiary may waive reports; the two 60-day notices do not apply to acceptances or trusts made irrevocable before January 1, 2019.
- C.R.S. §15-5-814 ↗ Discretionary powers - tax savings
- A trustee exercises a discretionary power in good faith, within the trust's terms and purposes and the beneficiaries' interests, whatever the breadth of the words of discretion; where the terms grant unlimited discretion, a court may not find an abuse merely because it would have exercised the discretion differently; unless the terms say otherwise, a trustee who is also a beneficiary (other than the settlor) distributes to themselves only under an ascertainable standard, and no trustee uses a discretionary power to satisfy a support obligation the trustee personally owes, with stated exceptions.
- C.R.S. §15-5-815 ↗ General powers of trustee
- A trustee may exercise, without court authorization, the powers the terms confer and — except as the terms limit them — all powers over the trust property an unmarried competent owner has over individually owned property, any other powers appropriate to the proper investment, management and distribution of the property, and the powers this code and the Colorado Fiduciaries' Powers Act confer, subject to the trustee's fiduciary duties.
- C.R.S. §15-5-816 ↗ Specific powers of trustee
- Lists specific powers a trustee may exercise in addition to the general powers and the Colorado Fiduciaries' Powers Act — among them collecting trust property and accepting or rejecting additions, acquiring or selling property, exchanging or partitioning it, depositing funds, managing, insuring and improving property, borrowing and pledging, paying taxes and expenses, holding property in a nominee's name, and on termination exercising the powers needed to wind up the administration and distribute the property.
- C.R.S. §15-5-817 ↗ Distribution on termination
- On termination or partial termination, the trustee may send the beneficiaries a proposal for distribution, and a beneficiary's right to object ends if the beneficiary does not object within 30 days after it was sent, but only if it stated the right and the time to object; the trustee distributes expeditiously, keeping a reasonable reserve for debts, expenses and taxes.
Article 5, Part 10: Liability, and dealing with third persons
- C.R.S. §15-5-1001 ↗ Remedies for breach of trust
- A violation of a duty a trustee owes a beneficiary is a breach of trust; to remedy or prevent one, the court may among other things compel the trustee to perform, enjoin a breach, compel redress by paying money or restoring property, order an accounting, status report or inventory, appoint a special fiduciary, restrain or suspend the trustee, or remove the trustee, as the statute lists.
- C.R.S. §15-5-1005 ↗ Limitation of actions against trustee
- A beneficiary may not begin a proceeding for breach of trust more than one year after being sent a report that adequately disclosed the potential claim and informed the beneficiary of the time allowed; otherwise within three years after the trustee's removal or resignation, the end of the beneficiary's interest, or the trust's termination, whichever is first; fraud and misrepresentation are excepted.
- C.R.S. §15-5-1013 ↗ Certification of trust
- Instead of a copy of the trust instrument, a trustee may give a person other than a beneficiary a certification of trust stating the trust's existence and the date of the instrument, the settlor, the acting trustee's identity and address, the trustee's powers in the pending transaction, whether the trust is revocable and who may revoke it, how cotrustees sign and whether all must act, and the name in which title may be taken; any trustee may sign it; it states that the trust has not been revoked, modified or amended so as to make it incorrect, and need not contain the dispositive terms. A person who relies on it in good faith is protected.
Title 15, Articles 1.1 and 16: Prudent investing, directed trusts and decanting
- C.R.S. §15-1.1-104 ↗ Duties at inception of trusteeship
- Within a reasonable time after accepting a trusteeship or receiving trust assets, a trustee reviews the trust assets and makes and carries out decisions about retaining and disposing of them, to bring the portfolio into compliance with the trust's purposes, terms, distribution requirements and other circumstances and with the prudent investor rule.
- C.R.S. §15-16-801 ↗ Short title
- Names part 8 of article 16 of title 15 the "Colorado Uniform Directed Trust Act".
- C.R.S. §15-16-806 ↗ Powers of trust director
- The terms of a trust may grant a power of direction to a trust director; unless the terms provide otherwise, the director may exercise any further power appropriate to exercising or not exercising that power, and directors with joint powers act by majority decision.
- C.R.S. §15-16-809 ↗ Duty and liability of directed trustee
- A directed trustee takes reasonable action to comply with a trust director's exercise of a power of direction and is not liable for doing so, except to the extent that complying would be willful misconduct.
- C.R.S. §15-16-811 ↗ No duty to monitor, inform, or advise
- Unless the terms provide otherwise, a trustee has no duty to monitor a trust director, or to inform or advise a settlor, beneficiary, trustee or director about an instance in which the trustee might have acted differently than the director, and does not take on those duties by acting; a trust director likewise has no duty to monitor a trustee or another director.
- C.R.S. §15-16-816 ↗ Office of trust director
- Unless the terms provide otherwise, the rules applicable to a trustee apply to a trust director as to acceptance, bond, reasonable compensation, resignation, removal, vacancy and appointment of a successor, and the right to petition the court for instructions.
- C.R.S. §15-16-907 ↗ Notice - exercise of decanting power
- An authorized fiduciary who intends to exercise a decanting power gives notice in a record, not later than 63 days before the exercise, to each living settlor, each qualified beneficiary, each holder of a presently exercisable power of appointment, each person who may remove or replace the fiduciary, each other fiduciary of the first trust, each fiduciary of the second trust and, where required, the Attorney General; the notice period may be shortened or waived as the statute provides.
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