2018 Colorado Revised Statutes
Title 15 - Probate, Trusts, and Fiduciaries
Colorado Probate Code
Article 16 - Trust Administration
Part 9 - Colorado Uniform Trust Decanting Act
§ 15-16-903. Scope - definitions
(1) Except as otherwise provided in subsections (2) and (3) of this section, this part 9 applies to an express trust that is:
(a) Irrevocable; or
(b) Revocable by the settlor only with the consent of the trustee or a person holding an adverse interest.
(2) This part 9 does not apply to a trust held solely for charitable purposes.
(3) Subject to section 15-16-915, a trust instrument may restrict or prohibit exercise of the decanting power.
(4) This part 9 does not limit the power of a trustee, powerholder, or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, law of this state other than this part 9, common law, a court order, or a nonjudicial settlement agreement.
(5) This part 9 does not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument.
(6) (a) Neither this part 9 nor an exercise of the decanting power described in this part 9 affects:
(I) The determination whether a beneficial interest in a first trust or second trust is property or an asset of a spouse for purposes of distribution of property under section 14-10-113, C.R.S.; or
(II) The power of a divorce court to fashion remedies between the parties in an action under title 14, C.R.S.
(b) Nothing in this subsection (6) expands or limits the power of a divorce court in law or equity over a first trust or a second trust or any trustee thereof.
(c) As used in this subsection (6), unless the context requires otherwise, "divorce court" means a court in this state having jurisdiction over matters brought pursuant to title 14, C.R.S.
