Colorado § 15-16-918 Removal or replacement of authorized fiduciary

Colorado Statutes

§ 15-16-918 — Removal or replacement of authorized fiduciary

Colorado·Title 15 Probate,·Art. Trust Administration

(1)An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:

(a)The person holding the power consents to the modification in a signed record and the modification applies only to the person;

(b)The person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or

(c)The court approves the modification and the modification grants a substantially similar power to another person.

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(1) An
authorized fiduciary may not exercise the decanting power to modify a provision in
a first-trust instrument granting another person power to remove or replace the
fiduciary unless:

(a) The person holding the power consents to the modification in a signed
record and the modification applies only to the person;

(b) The person holding the power and the qualified beneficiaries of the
second trust consent to the modification in a signed record and the modification
grants a substantially similar power to another person; or

(c) The court approves the modification and the modification grants a
substantially similar power to another person.

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