§ 15-16-909 — Court involvement

Colorado § 15-16-909

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Trust Administration

Text

(1) On application of an authorized fiduciary,
a person entitled to notice under section 15-16-907 (3), a beneficiary, or with
respect to a charitable interest the attorney general or other person that has
standing to enforce the charitable interest, the court may:

(a) Provide instructions to the authorized fiduciary regarding whether a
proposed exercise of the decanting power is permitted under this part 9 and
consistent with the fiduciary duties of the authorized fiduciary;

(b) Appoint a special fiduciary and authorize the special fiduciary to
determine whether the decanting power should be exercised under this part 9 and
to exercise the decanting power;

(c) Approve an exercise of the decanting power;

(d) Determine that a proposed or attempted exercise of the decanting power
is ineffective because:

(I) After applying section 15-16-922, the proposed or attempted exercise
does not or did not comply with this part 9; or

(II) The proposed or attempted exercise would be or was an abuse of the
fiduciary's discretion or a breach of fiduciary duty;

(e) Determine the extent to which section 15-16-922 applies to a prior
exercise of the decanting power;

(f) Provide instructions to the trustee regarding the application of section 15-16-922 to a prior exercise of the decanting power; or

(g) Order other relief to carry out the purposes of this part 9.

(2) On application of an authorized fiduciary, the court may approve:

(a) An increase in the fiduciary's compensation under section 15-16-916; or

(b) A modification under section 15-16-918 of a provision granting a person
the right to remove or replace the fiduciary.

Legislative History

Source: L. 2016: Entire part added, (SB 16-085), ch. 228, p. 877, � 1, effective August 10.