Colorado Uniform Directed Trust Act
Directed trusts - Colorado Uniform Directed Trust Act. Under current law, the administration of trusts, including directed trusts, is generally governed by certain provisions in the probate code. The act repeals provisions governing directed trustees and creates a new "Colorado Uniform Directed Trust Act", which includes provisions concerning:
- Judicial proceedings;
- Trust directors' powers;
- Duties and liabilities of trust directors and directed trustees; and
- Powers that are excluded from the act.
(Note: This summary applies to this bill as enacted.)