Colorado § 15-16-907 Notice - exercise of decanting power

Colorado Statutes

§ 15-16-907 — Notice - exercise of decanting power

Colorado § 15-16-907

Title 15Probate,

Art.Trust Administration

This text of Colorado § 15-16-907 (Notice - exercise of decanting power) 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. § 15-16-907 (2026).

Text

(1)In this section, a notice period begins on the day notice is given under subsection (3) of this section and ends sixty-two days after the day notice is given.

(2)Except as otherwise provided in this part 9, an authorized fiduciary may exercise the decanting power without the consent of any person and without court approval.

(3)Except as otherwise provided in subsection (6) of this section, an authorized fiduciary shall give notice in a record of the intended exercise of the decanting power not later than sixty-three days before the exercise to:

(a)Each settlor of the first trust, if living or then in existence;

(b)Each qualified beneficiary of the first trust;

(c)Each holder of a presently exercisable power of appointment over any part or all of the first trust;

(d)E

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(1) In this section, a notice
period begins on the day notice is given under subsection (3) of this section and
ends sixty-two days after the day notice is given.

(2) Except as otherwise provided in this part 9, an authorized fiduciary may
exercise the decanting power without the consent of any person and without court
approval.

(3) Except as otherwise provided in subsection (6) of this section, an
authorized fiduciary shall give notice in a record of the intended exercise of the
decanting power not later than sixty-three days before the exercise to:

(a) Each settlor of the first trust, if living or then in existence;

(b) Each qualified beneficiary of the first trust;

(c) Each holder of a presently exercisable power of appointment over any
part or all of the first trust;

(d) Each person that currently has the right to remove or replace the
authorized fiduciary;

(e) Each other fiduciary of the first trust;

(f) Each fiduciary of the second trust; and

(g) The attorney general, if section 15-16-914 (2) applies.

(4) An authorized fiduciary is not required to give notice under subsection (3)
of this section to a qualified beneficiary who is a minor and has no representative or
to a person that is not known to the fiduciary or is known to the fiduciary but cannot
be located by the fiduciary after reasonable diligence.

(5) A notice under subsection (3) of this section must:

(a) Specify the manner in which the authorized fiduciary intends to exercise
the decanting power;

(b) Specify the proposed effective date for exercise of the power;

(c) Include a copy of the first-trust instrument; and

(d) Include a copy of all second-trust instruments.

(6) The decanting power may be exercised before expiration of the notice
period under subsection (1) of this section if all persons entitled to receive notice
waive the period in a signed record.

(7) The receipt of notice, waiver of the notice period, or expiration of the
notice period does not affect the right of a person to file an application under
section 15-16-909 asserting that:

(a) An attempted exercise of the decanting power is ineffective because it
did not comply with this part 9 or was an abuse of discretion or breach of fiduciary
duty; or

(b) Section 15-16-922 applies to the exercise of the decanting power.

(8) An exercise of the decanting power is not ineffective because of the
failure to give notice to one or more persons under subsection (3) of this section if
the authorized fiduciary acted with reasonable care to comply with subsection (3)
of this section.