2020 Colorado Revised Statutes
Title 15 - Probate, Trusts, And Fiduciaries
Article 5. Colorado Uniform Trust Code
Section 15-5-706. Removal of trustee.
(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:
The trustee has committed a serious breach of trust;
Lack of cooperation among cotrustees substantially impairs the administration of thetrust;
Because of unfitness, unwillingness, or persistent failure of the trustee to administerthe trust effectively, the court determines that removal of the trustee best serves the interests of the beneficiaries; or
(I) There has been a substantial change of circumstances or removal is requested byall of the qualified beneficiaries;
(II) The court finds that removal of the trustee best serves the interests of all of the beneficiaries and is not inconsistent with a material purpose of the trust; and (III) A suitable cotrustee or successor trustee is available.
(3) Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order such appropriate relief pursuant to section 15-5-1001 (2) as may be necessary to protect the trust property or the interests of the beneficiaries.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1171, § 1, effective January 1, 2019.
