Colorado § 15-5-817 - Distribution on termination.
Full text of Colorado Colorado Revised Statutes § 15-5-817 — Distribution on termination., with citation guidance and answers to common questions.
§ 15-5-817. Distribution on termination.
(1) Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirty days after the proposal was sent, but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.
(2) Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payments of debts, expenses, and taxes.
(3) A release by a beneficiary of a trustee from liability for breach of trust is invalid to the extent:
(a) It was induced by improper conduct of the trustee; or
(b) The beneficiary, at the time of the release, did not know of the beneficiary's rights or of the material facts relating to the breach.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1181, § 1, effective January 1, 2019.
Frequently Asked Questions About Colorado § 15-5-817
What does Colorado Revised Statutes § 15-5-817 cover?
Section 15-5-817 ("Distribution on termination.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-5-817?
A common citation format is "Colorado Revised Statutes § 15-5-817" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-5-817 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.