Colorado § 15-5-414 Modification or termination of uneconomic trust

Colorado Statutes

§ 15-5-414 — Modification or termination of uneconomic trust

Colorado·Title 15 Probate,·Art. Colorado Uniform Trust Code

(1)After notice to the qualified beneficiaries, the trustee of a trust property having a total value less than one hundred thousand dollars may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.

(2)The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.

(3)Upon termination of a trust pursuant to this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.

(4)This section does not apply to an easement for conservation or preservation.

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(1) After notice
to the qualified beneficiaries, the trustee of a trust property having a total value
less than one hundred thousand dollars may terminate the trust if the trustee
concludes that the value of the trust property is insufficient to justify the cost of
administration.

(2) The court may modify or terminate a trust or remove the trustee and
appoint a different trustee if it determines that the value of the trust property is
insufficient to justify the cost of administration.

(3) Upon termination of a trust pursuant to this section, the trustee shall
distribute the trust property in a manner consistent with the purposes of the trust.

(4) This section does not apply to an easement for conservation or
preservation.

Colorado § 15-5-414 (Modification or termination of uneconomic trust) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.