Colorado § 11-50-106 Transfer authorized by will or trust

Colorado Statutes

§ 11-50-106 — Transfer authorized by will or trust

Colorado·Title 11 Financial·Art. Colorado Uniform Transfers to Minors Act

(1)A personal representative or trustee may make an irrevocable transfer pursuant to section 11-50-110 to a custodian for the benefit of a minor as authorized in the governing will or trust.

(2)If the testator or settlor has nominated a custodian under section 11-50-104 to receive the custodial property, the transfer must be made to that person.

(3)If the testator or settlor has not nominated a custodian under section 11-50-104, or all persons so nominated as custodian die before the transfer or are unable, decline, or are ineligible to serve, the personal representative or the trustee, as the case may be, shall designate the custodian from among those eligible to serve as custodian for property of that kind under section 11-50-110 (1).

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(1) A personal
representative or trustee may make an irrevocable transfer pursuant to section 11-50-110 to a custodian for the benefit of a minor as authorized in the governing will
or trust.

(2) If the testator or settlor has nominated a custodian under section 11-50-104 to receive the custodial property, the transfer must be made to that person.

(3) If the testator or settlor has not nominated a custodian under section 11-50-104, or all persons so nominated as custodian die before the transfer or are
unable, decline, or are ineligible to serve, the personal representative or the trustee,
as the case may be, shall designate the custodian from among those eligible to
serve as custodian for property of that kind under section 11-50-110 (1).

Colorado § 11-50-106 (Transfer authorized by will or trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.