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2020 Colorado Revised Statutes
Title 15 - Probate, Trusts, And Fiduciaries
Article 5. Colorado Uniform Trust Code
Section 15-5-709. Reimbursement of expenses.
Universal Citation: CO Rev Stat § 15-5-709 (2020)
(1) A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:
Expenses that were properly incurred in the administration of the trust; and
To the extent necessary to prevent unjust enrichment of the trust, expenses that werenot properly incurred in the administration of the trust.
(2) A reasonable advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1172, § 1, effective January 1, 2019.
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