Go to Other Versions of The
Colorado Rev. Stat.
2024 Colorado Revised Statutes
Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403)
COLORADO PROBATE CODE (§§ 15-10-101 — 15-17-103)
Article 14 - Persons Under Disability - Protection (§§ 15-14-101 — 15-14-806)
Part 7 - UNIFORM POWER OF ATTORNEY ACT (§§ 15-14-701 — 15-14-745)
Subpart 2 - OWNERSHIP AS BETWEEN PARTIES AND OTHERS (§§ 15-14-724 — 15-14-740)
Section 15-14-734 - Estates, trusts, and other beneficial interests
Universal Citation:
CO Rev Stat § 15-14-734 (2024)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
- (1) In this section, "estate, trust, or other beneficial interest" means a trust, probate estate, guardianship, conservatorship, escrow, or custodianship or a fund from which the principal is, may become, or claims to be, entitled as a beneficiary to a share or payment.
- (2) Unless the power of attorney otherwise provides, language in a power of attorney granting general authority with respect to estates, trusts, and other beneficial interests authorizes the agent to:
- (a) Accept, receive, receipt for, sell, assign, pledge, or exchange a share in or payment from an estate, trust, or other beneficial interest;
- (b) Demand or obtain money or another thing of value to which the principal is, may become, or claims to be, entitled by reason of an estate, trust, or other beneficial interest, by litigation or otherwise;
- (c) Exercise for the benefit of the principal a presently exercisable general power of appointment held by the principal;
- (d) Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to ascertain the meaning, validity, or effect of a deed, will, declaration of trust, or other instrument or transaction affecting the interest of the principal;
- (e) Initiate, participate in, submit to alternative dispute resolution, settle, oppose, or propose or accept a compromise with respect to litigation to remove, substitute, or surcharge a fiduciary;
- (f) Conserve, invest, disburse, or use anything received for an authorized purpose; and
- (g) Transfer an interest of the principal in real property, stocks and bonds, accounts with financial institutions or securities intermediaries, insurance, annuities, and other property to the trustee of a revocable trust created by the principal as settlor.
- (h) (Deleted by amendment, L. 2011, (SB 11-083), ch. 306, p. 306, § 14, effective August 10, 2011.)
L. 2009: Entire part added, (HB 09 -1198), ch. 106, p. 405, § 1, effective April 9. L. 2011: (2)(f), (2)(g), and (2)(h) amended, (SB 11 -083), ch. 101, p. 306, § 14, effective August 10.
OFFICIAL COMMENT
This section, which corresponds to Section 11 of the Uniform Statutory Form Power of Attorney Act, has been revised to clarify that an agent's authority includes authority to exercise, for the benefit of the principal, a presently exercisable general power of appointment held by the principal (subsection (2)(c)). "Presently exercisable general power of appointment" is defined for purposes of the Act in Section 15-14-702(8).
Disclaimer: These codes may not be the most recent version. Colorado may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.