C.R.S. Section 15-16-811
No duty to monitor, inform, or advise

(1)

Unless the terms of a trust provide otherwise:

(a)

A trustee does not have a duty to:

(I)

Monitor a trust director; or

(II)

Inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and

(b)

By taking an action described in subsection (1)(a) of this section, a trustee does not assume a duty excluded by subsection (1)(a) of this section.

(2)

Unless the terms of a trust provide otherwise:

(a)

A trust director does not have a duty to:

(I)

Monitor a trustee or another trust director; or

(II)

Inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and

(b)

By taking an action described in subsection (2)(a) of this section, a trust director does not assume the duty excluded by subsection (2)(a) of this section.

(3)

Unless the terms of a trust provide otherwise, section 15-5-1012 does not apply to a trust director.

Source: Section 15-16-811 — No duty to monitor, inform, or advise, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-15.­pdf (accessed Oct. 20, 2023).

15‑16‑801
Short title 15‑16‑802
Definitions 15‑16‑803
Application - principal place of administration 15‑16‑804
Common law and principles of equity 15‑16‑805
Exclusions - definition 15‑16‑806
Powers of trust director 15‑16‑807
Limitations on powers of trust director 15‑16‑808
Duty and liability of trust director 15‑16‑809
Duty and liability of directed trustee 15‑16‑810
Duty to provide information to trust director or trustee 15‑16‑811
No duty to monitor, inform, or advise 15‑16‑812
Application to cotrustee 15‑16‑813
Limitations of action against trust director 15‑16‑814
Defenses in action against trust director 15‑16‑815
Jurisdiction over trust director 15‑16‑816
Office of trust director 15‑16‑817
Uniformity of application and construction 15‑16‑818
Relation to electronic signatures in global and national commerce act 15‑16‑901
Short title 15‑16‑902
Definitions 15‑16‑903
Scope - definitions 15‑16‑904
Fiduciary duty 15‑16‑905
Application - governing law 15‑16‑906
Reasonable reliance 15‑16‑907
Notice - exercise of decanting power 15‑16‑908
Representation 15‑16‑909
Court involvement 15‑16‑910
Formalities 15‑16‑911
Decanting power under expanded distributive discretion - definitions 15‑16‑912
Decanting power under limited distributive discretion - definitions 15‑16‑913
Trust for beneficiary with disability - definitions 15‑16‑914
Protection of charitable interest - definitions 15‑16‑915
Trust limitation on decanting 15‑16‑916
Change in compensation 15‑16‑917
Relief from liability and indemnification 15‑16‑918
Removal or replacement of authorized fiduciary 15‑16‑919
Tax-related limitations - definitions 15‑16‑920
Duration of second trust 15‑16‑921
Need to distribute not required 15‑16‑922
Saving provision 15‑16‑923
Trust for care of animal - definitions 15‑16‑924
Terms of second trust 15‑16‑925
Settlor 15‑16‑926
Later-discovered property 15‑16‑927
Obligations 15‑16‑928
Uniformity of application and construction 15‑16‑929
Relation to electronic signatures in global and national commerce act 15‑16‑930
Severability
Green check means up to date. Up to date

Current through Fall 2024

§ 15-16-811’s source at colorado​.gov