Colorado § 15-1.5-117 Distribution on termination

Colorado Statutes

§ 15-1.5-117 — Distribution on termination

Colorado § 15-1.5-117

Title 15Probate,

Art.Colorado Uniform Custodial Trust Act

This text of Colorado § 15-1.5-117 (Distribution on termination) 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. § 15-1.5-117 (2026).

Text

(1)Upon termination of a custodial trust, the custodial trustee shall transfer the unexpended custodial trust property:

(a)To the beneficiary, if not incapacitated or deceased;

(b)To the conservator or other recipient designated by the court for an incapacitated beneficiary; or

(c)Upon the beneficiary's death, in the following order:

(I)As last directed in a writing signed by the deceased beneficiary while not incapacitated and received by the custodial trustee during the life of the deceased beneficiary;

(II)To the survivor of multiple beneficiaries if survivorship is provided for pursuant to section 15-1.5-106;

(III)As designated in the instrument creating the custodial trust; or

(IV)To the estate of the deceased beneficiary.

(2)If, when the custodial trust would ot

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(1) Upon termination of a custodial
trust, the custodial trustee shall transfer the unexpended custodial trust property:

(a) To the beneficiary, if not incapacitated or deceased;

(b) To the conservator or other recipient designated by the court for an
incapacitated beneficiary; or

(c) Upon the beneficiary's death, in the following order:

(I) As last directed in a writing signed by the deceased beneficiary while not
incapacitated and received by the custodial trustee during the life of the deceased
beneficiary;

(II) To the survivor of multiple beneficiaries if survivorship is provided for
pursuant to section 15-1.5-106;

(III) As designated in the instrument creating the custodial trust; or

(IV) To the estate of the deceased beneficiary.

(2) If, when the custodial trust would otherwise terminate, the distributee is
incapacitated, the custodial trust continues for the use and benefit of the
distributee as beneficiary until the incapacity is removed or the custodial trust is
otherwise terminated.

(3) Death of a beneficiary does not terminate the power of the custodial
trustee to discharge obligations of the custodial trustee or beneficiary incurred
before the termination of the custodial trust.