Colorado § 15-1.2-202 Judicial review of exercise of discretionary power - definition

Colorado Statutes

§ 15-1.2-202 — Judicial review of exercise of discretionary power - definition

Colorado § 15-1.2-202

Title 15Probate,

Art.Uniform Fiduciary Income and Principal Act

This text of Colorado § 15-1.2-202 (Judicial review of exercise of discretionary power - definition) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 15-1.2-202 (2026).

Text

(1)In this section, fiduciary decision means:

(a)A fiduciary's allocation between income and principal or other determination regarding income and principal required or authorized by the terms of the trust or this article 1.2;

(b)The fiduciary's exercise or nonexercise of a discretionary power regarding income and principal granted by the terms of the trust or this article 1.2, including the power to adjust under section 15-1.2-203, convert an income trust to a unitrust under section 15-1.2-303 (1)(a), change the percentage or method used to calculate a unitrust amount under section 15-1.2-303 (1)(b), or convert a unitrust to an income trust under section 15-1.2-303 (1)(c); or

(c)The fiduciary's implementation of a decision described in subsection (1)(a) or (1)(b) of this se

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(1) In this section, fiduciary decision means:

(a) A fiduciary's allocation between income and principal or other
determination regarding income and principal required or authorized by the terms
of the trust or this article 1.2;

(b) The fiduciary's exercise or nonexercise of a discretionary power
regarding income and principal granted by the terms of the trust or this article 1.2,
including the power to adjust under section 15-1.2-203, convert an income trust to a
unitrust under section 15-1.2-303 (1)(a), change the percentage or method used to
calculate a unitrust amount under section 15-1.2-303 (1)(b), or convert a unitrust to
an income trust under section 15-1.2-303 (1)(c); or

(c) The fiduciary's implementation of a decision described in subsection (1)(a)
or (1)(b) of this section.

(2) The court may not order a fiduciary to change a fiduciary decision unless
the court determines that the fiduciary decision was an abuse of the fiduciary's
discretion.

(3) If the court determines that a fiduciary decision was an abuse of the
fiduciary's discretion, the court may order a remedy authorized by law, including
section 15-5-1001 of the Colorado Uniform Trust Code and part 5 of article 10 of
this title 15. To place the beneficiaries in the positions the beneficiaries would have
occupied if there had not been an abuse of the fiduciary's discretion, the court may
order:

(a) The fiduciary to exercise or refrain from exercising the power to adjust
under section 15-1.2-203;

(b) The fiduciary to exercise or refrain from exercising the power to convert
an income trust to a unitrust under section 15-1.2-303 (1)(a), change the percentage
or method used to calculate a unitrust amount under section 15-1.2-303 (1)(b), or
convert a unitrust to an income trust under section 15-1.2-303 (1)(c);

(c) The fiduciary to distribute an amount to a beneficiary;

(d) A beneficiary to return some or all of a distribution; or

(e) The fiduciary to withhold an amount from one or more future distributions
to a beneficiary.

(4) Reserved.

Legislative History

Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 806, � 1, effective January 1, 2022. L. 2022: (3) introductory portion amended, (SB 22-212), ch. 421, p. 2968, � 24, effective August 10.