2020 Colorado Revised Statutes
Title 15 - Probate, Trusts, And Fiduciaries
Article 5. Colorado Uniform Trust Code
Section 15-5-1008. Exculpation of trustee.
(1) A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it:
Relieves the trustee of liability for breach of trust committed in bad faith or withreckless indifference to the purposes of the trust or the interests of the beneficiaries; or
Was inserted as the result of an abuse by the trustee of a fiduciary or confidentialrelationship to the settlor.
(2) An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless the trustee proves that the exculpatory term is fair under the circumstances and that its existence and contents were adequately communicated to the settlor.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective January 1, 2019.
