§ 15-5-807 — Delegation by trustee

Colorado § 15-5-807

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Colorado Uniform Trust Code

Text

(1) A trustee may delegate duties and
powers that a prudent trustee of comparable skills could properly delegate under
the circumstances. The trustee shall exercise reasonable care, skill, and caution in:

(a) Selecting an agent;

(b) Establishing the scope and terms of the delegation, consistent with the
purposes and terms of the trust; and

(c) Periodically reviewing the agent's actions in order to monitor the agent's
performance and compliance with the terms of the delegation.

(2) In performing a delegated function, an agent owes a duty to the trust to
exercise reasonable care to comply with the terms of the delegation.

(3) A trustee who complies with subsection (1) of this section is not liable to
the beneficiaries or to the trust for the decisions or actions of the agent to whom
the function was delegated.

(4) By accepting a delegation of powers or duties from the trustee of a trust
that is subject to the law of this state, an agent submits to the jurisdiction of the
courts of this state.

Legislative History

Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1174, � 1, effective January 1, 2019.