The court may reform the terms of a trust, even if unambiguous, to conform the terms to the settlor's intention if it is proved by clear and convincing evidence that the settlor's intent and the terms of the trust were affected by a mistake of fact or law, whether in expression or inducement.
Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1165, § 1, effective January 1, 2019.
Structure Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 5 - Colorado Uniform Trust Code
Part 4 - Creation, Validity, Modification, and Termination of Trust
§ 15-5-401. Methods of Creating Trust
§ 15-5-402. Requirements for Creation
§ 15-5-403. Trusts Created in Other Jurisdictions
§ 15-5-405. Charitable Purposes - Enforcement
§ 15-5-406. Creation of Trust Induced by Fraud, Duress, or Undue Influence
§ 15-5-407. Evidence of Oral Trust
§ 15-5-408. Trust for Care of an Animal
§ 15-5-409. Noncharitable Trust Without Ascertainable Beneficiary
§ 15-5-410. Modification or Termination of Trust - Proceedings for Approval or Disapproval
§ 15-5-411. Modification or Termination of Noncharitable Irrevocable Trust by Consent
§ 15-5-414. Modification or Termination of Uneconomic Trust
§ 15-5-415. Reformation to Correct Mistakes
§ 15-5-416. Modification to Achieve Settlor's Tax Objectives