C.R.S. Section 15-1.2-307
Applicable value

(1)

A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:

(a)

The frequency of valuing the asset, which need not require a valuation in every period; and

(b)

The date for valuing the asset in each period in which the asset is valued.

(2)

Except as otherwise provided in section 15-1.2-309 (2)(b), a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including:

(a)

Obtaining an appraisal of an asset for which fair market value is not readily available;

(b)

Exclusion of specific assets or groups or types of assets;

(c)

Other exceptions or modifications of the treatment of specific assets or groups or types of assets;

(d)

Identification and treatment of cash or property held for distribution;

(e)

Use of:

(I)

An average of fair market values over a stated number of preceding periods; or

(II)

Another mathematical blend of fair market values over a stated number of preceding periods;

(f)

A limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over:

(I)

The corresponding applicable value for the preceding period; or

(II)

A mathematical blend of applicable values over a stated number of preceding periods;

(g)

A limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below:

(I)

The corresponding applicable value for the preceding period; or

(II)

A mathematical blend of applicable values over a stated number of preceding periods;

(h)

The treatment of accrued income and other features of an asset which affect value; and

(i)

Determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under subsections (2)(a) through (2)(h) of this section.

Source: Section 15-1.2-307 — Applicable value, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-15.­pdf (accessed Oct. 20, 2023).

15‑1.2‑101
Short title 15‑1.2‑102
Definitions 15‑1.2‑103
Scope 15‑1.2‑104
Governing law 15‑1.2‑201
Fiduciary duties - general principles 15‑1.2‑202
Judicial review of exercise of discretionary power - definition 15‑1.2‑203
Fiduciary’s power to adjust 15‑1.2‑204
Notice of action - definitions 15‑1.2‑301
Definitions 15‑1.2‑302
Application - duties and remedies 15‑1.2‑303
Authority of fiduciary 15‑1.2‑304
Notice 15‑1.2‑305
Unitrust policy 15‑1.2‑306
Unitrust rate 15‑1.2‑307
Applicable value 15‑1.2‑308
Period 15‑1.2‑309
Special tax benefits - rules 15‑1.2‑401
Character of receipts from entity - definitions 15‑1.2‑402
Distribution from trust or estate 15‑1.2‑403
Business of other activity conducted by fiduciary 15‑1.2‑404
Principal receipts 15‑1.2‑405
Rental property 15‑1.2‑406
Receipt on obligation to be paid in money 15‑1.2‑407
Insurance policy or contract 15‑1.2‑408
Insubstantial allocation not required 15‑1.2‑409
Deferred compensation, annuity, or similar payment - definitions 15‑1.2‑410
Liquidating asset - definition 15‑1.2‑411
Minerals, water, and other natural resources 15‑1.2‑412
Timber 15‑1.2‑413
Marital deduction property not productive of income 15‑1.2‑414
Derivative or option - definition 15‑1.2‑415
Asset-backed security 15‑1.2‑416
Other financial instrument or arrangement 15‑1.2‑501
Disbursement from income 15‑1.2‑502
Disbursement from principal 15‑1.2‑503
Transfer from income to principal for depreciation - definition 15‑1.2‑504
Reimbursement of income from principal 15‑1.2‑505
Reimbursement of principal from income 15‑1.2‑506
Income taxes 15‑1.2‑507
Adjustment between income and principal because of taxes 15‑1.2‑601
Determination and distribution of net income 15‑1.2‑602
Distribution to successor beneficiary 15‑1.2‑701
When right to income begins and ends 15‑1.2‑702
Apportionment of receipts and disbursements when decedent dies or income interest begins 15‑1.2‑703
Apportionment when income interest ends - definition 15‑1.2‑801
Uniformity of application and construction 15‑1.2‑802
Relation to electronic signatures in global and national commerce act 15‑1.2‑803
Application to trust or estate 15‑1.2‑804
Severability
Green check means up to date. Up to date

Current through Fall 2024

§ 15-1.2-307’s source at colorado​.gov