SB 18-180

SB 18-180, also known as the Colorado Trust Code, is a bill that updates and modernizes how trusts are managed in Colorado by moving trust administration out of the probate code into its own set of rules. This new system covers things like how disputes over trusts are handled, who can speak for someone involved with a trust, and what trustees (the people managing the trust) must do and be responsible for. The bill has been signed into law, meaning it is now official and will affect anyone dealing with trusts in Colorado.

Official Summary

Colorado Commission on Uniform State Laws. Under current law, the administration of trusts is generally governed by certain provisions within the probate code. The bill repeals many of these provisions and creates a new Colorado uniform trust code (code) outside the probate code to address trust administration. The new code includes provisions concerning: Judicial proceedings; Representation; Creation, validity, modification, and termination of trusts; Duties and powers of trustees; and Liabilities of trustees and rights of persons dealing with trustees. The bill also makes conforming amendments. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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