2021 Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 11 - Intestate Succession and Wills
Part 8 - General Provisions Concerning Probate and Nonprobate Transfers
§ 15-11-807. Modification to Achieve Transferor's Tax Objectives
To achieve the transferor's tax objectives, the court may modify the terms of a governing instrument other than a trust that is governed by section 15-5-416 in a manner that is not contrary to the transferor's probable intention. The court may provide that the modification has retroactive effect.
History. Source: L. 2009: Entire section added,(HB 09-1287), ch. 310, p. 1687, § 15, effective July 1, 2010. L. 2018: Entire section amended,(SB 18-180), ch. 169, p. 1193, § 11, effective January 1, 2019.
Cross references:
For provisions relating to the time of taking effect or the provisions for transition of this code, see § 15-17-101 .
COMMENT
Added in 2008, Section 2-806 is based on Section 416 of the Uniform Trust Code, which in turn was based on Section 12.2 of the Restatement (Third) of Property: Wills and Other Donative Transfers (2003).
Section 2-806 is broader in scope than Section 416 of the Uniform Trust Code because Section 2-806 applies but is not limited to trusts.
Section 12.2, and hence Section 2-806, is explained and illustrated in the Comments to Section 12.2 of the Restatement and also, in the case of a trust, in the Comment to Section 416 of the Uniform Trust Code.
ANNOTATIONLaw reviews. For article, “Court-Approved Trust Modifications--Binding Effect on IRS and Tax Consequences”, see 41 Colo. Law. 55 (June 2012).
