If the happening of an event, including marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee's lack of knowledge.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective January 1, 2019.
Structure Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 5 - Colorado Uniform Trust Code
Part 10 - Liability of Trustees and Rights of Persons Dealing With Trustees
§ 15-5-1001. Remedies for Breach of Trust
§ 15-5-1002. Damages for Breach of Trust
§ 15-5-1003. Damages in Absence of Breach
§ 15-5-1004. Compensation and Costs
§ 15-5-1005. Limitation of Actions Against Trustee
§ 15-5-1006. Reliance on Trust Instrument
§ 15-5-1007. Event Affecting Administration or Distribution
§ 15-5-1008. Exculpation of Trustee
§ 15-5-1009. Beneficiary's Consent, Release, or Ratification
§ 15-5-1010. Limitation on Personal Liability of Trustee
§ 15-5-1011. Interest as a General Partner