Colo. Rev. Stat. § 15-5-706

Current through Acts effective through 6/7/2024 of the 2024 Legislative Session
Section 15-5-706 - Removal of trustee
(1) The settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative.
(2) The court may remove a trustee if:
(a) The trustee has committed a serious breach of trust;
(b) Lack of cooperation among cotrustees substantially impairs the administration of the trust;
(c) Because of unfitness, unwillingness, or persistent failure of the trustee to administer the trust effectively, the court determines that removal of the trustee best serves the interests of the beneficiaries; or
(d)
(I) There has been a substantial change of circumstances or removal is requested by all of the qualified beneficiaries;
(II) The court finds that removal of the trustee best serves the interests of all of the beneficiaries and is not inconsistent with a material purpose of the trust; and
(III) A suitable cotrustee or successor trustee is available.
(3) Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order such appropriate relief pursuant to section 15-5-1001 (2) as may be necessary to protect the trust property or the interests of the beneficiaries.

C.R.S. § 15-5-706

Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1171, § 1, effective 1/1/2019.