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2020 Colorado Revised Statutes
Title 15 - Probate, Trusts, And Fiduciaries
Article 1. Fiduciary
Section 15-1-435. Application of certain provisions - notice of election.

Universal Citation: CO Rev Stat § 15-1-435 (2020)
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(1) Section 15-1421.5 shall apply to all trusts and estates executed on or after July 1, 2009, unless the qualified beneficiaries elect not to apply said section.

  1. The provisions of section 15-1-421.5 shall not apply to the determination of incomefrom the disposition of natural resources in a trust or estate created before July 1, 2009, unless the qualified beneficiaries elect to apply section 15-1-421.5 as provided in this section.

  2. If the qualified beneficiaries elect under subsection (1) or (2) of this section, notice ofthe election to apply or not to apply section 15-1-421.5 shall be given by the trustee in accordance with section 15-1-405, and the provisions of such section shall apply to the election.

  3. An election to apply section 15-1-421.5 is irrevocable.

Source: L. 2009: Entire section added, (HB 09-1241), ch. 169, p. 746, § 13, effective April 22.

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