To achieve the settlor's tax objectives, the court may modify the terms of a trust in a manner that is not contrary to the settlor's probable intention. The court may provide that the modification has retroactive effect.
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