reglab/housing_qa huggingface dataset:
CO Code § 15-5-409.5 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-409.5. Additional Provisions Applicable to Noncharitable Trusts Without Ascertainable Beneficiary and Trusts for Care of Animal

  In addition to the provisions of sections 15-5-408 and 15-5-409, a trust covered by either of those sections is subject to the following provisions:   Except as expressly provided otherwise in the trust instrument, no portion of the principal or income may be converted to the use of the trustee, other than reasonable trustee fees and expenses of administration, or to any use other than for the trust's purposes or for the benefit of a covered animal or animals;    Upon termination, the trustee shall transfer the unexpended trust property in the following order:   As directed in the trust instrument;    If the trust was created in a nonresiduary clause in the settlor's will or in a codicil to the settlor's will, under the residuary clause in the settlor's will; and    If no taker is produced by the application of subsections (1)(b)(I) and (1)(b)(II) of this section, to the settlor's heirs pursuant to part 5 of article 11 of this title 15;       (Reserved)    The intended use of the principal or income can be enforced by an individual designated for that purpose in the trust instrument, by the person having custody of an animal for which care is provided by the trust instrument, by a remainder beneficiary, or, if none, by an individual appointed by a court upon application to it by an individual;    All trusts created pursuant to this section may be registered, and all trustees are subject to the laws of this state applying to trusts and trustees; and    (Reserved)      If no trustee is designated or no designated trustee is willing or able to serve, a court shall name a trustee. A court may order the transfer of the property to another trustee if required to ensure that the intended use is carried out and if: (g) (I) If no trustee is designated or no designated trustee is willing or able to serve, a court shall name a trustee. A court may order the transfer of the property to another trustee if required to ensure that the intended use is carried out and if:   No successor trustee is designated in the trust instrument; or    No designated successor trustee agrees to serve or is able to serve.       A court may also make such other orders and determinations as shall be advisable to carry out the intent of the settlor and the purposes of sections 15-5-408 and 15-5-409.            History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1162, § 1, effective January 1, 2019.
CO Code § 15-5-410 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-410. Modification or Termination of Trust - Proceedings for Approval or Disapproval

  In addition to the methods of termination prescribed by sections 15-5-411 to 15-5-414, a trust terminates to the extent that:   The trust is revoked or expires pursuant to its terms;    No purpose of the trust remains to be achieved; or    The purposes of the trust have become unlawful, contrary to public policy, or impossible to achieve.       A proceeding to approve or disapprove a proposed modification or termination pursuant to sections 15-5-411 to 15-5-416, or trust combination or division pursuant to section 15-5-417, may be commenced by a trustee or a beneficiary.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1163, § 1, effective January 1, 2019.
CO Code § 15-5-411 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-411. Modification or Termination of Noncharitable Irrevocable Trust by Consent

  If, upon petition, the court finds that the settlor and all beneficiaries consent to the modification or termination of a noncharitable irrevocable trust, the court shall approve the modification or termination even if the modification or termination is inconsistent with a material purpose of the trust. A settlor's consent to a trust's modification or termination may be given by an agent under a power of attorney only to the extent expressly authorized by the power of attorney or the terms of the trust, by the settlor's conservator with the approval of the court supervising the conservatorship if an agent is not so authorized, or by the settlor's guardian with the approval of the court supervising the guardianship if an agent is not so authorized and a conservator has not been appointed.    Other than a trust established by court order under Title XIX of the federal “Social Security Act”, 42 U.S.C. sec. 1396p (d)(4), a noncharitable irrevocable trust may:   Be terminated upon consent of all of the beneficiaries if the court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust; or    Be modified upon consent of all of the beneficiaries if the court concludes that modification is not inconsistent with a material purpose of the trust.       A spendthrift provision in the terms of a trust is not presumed to constitute a material purpose of the trust.    Upon termination of a trust pursuant to subsection (1) or (2) of this section, the trustee shall distribute the trust property as agreed by the beneficiaries.    If not all of the beneficiaries consent to a proposed modification or termination of a trust pursuant to subsection (1) or (2) of this section, the modification or termination may be approved by the court if the court is satisfied that:   If all of the beneficiaries had consented, the trust could have been modified or terminated pursuant to this section; and    The interests of a beneficiary who does not consent will be adequately protected.        History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1163, § 1, effective January 1, 2019.
CO Code § 15-5-412 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-412. Modification or Termination Because of Unanticipated Circumstances or Inability to Administer Trust Effectively

  The court may modify the administrative or dispositive terms of a trust or terminate the trust if, because of circumstances not anticipated by the settlor, modification or termination will further the purposes of the trust. To the extent practicable, the modification must be made in accordance with the settlor's probable intention.    The court may modify the administrative terms of a trust if continuation of the trust on its existing terms would be impracticable or wasteful or impair the trust's administration.    Upon termination of a trust pursuant to this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1164, § 1, effective January 1, 2019.
CO Code § 15-5-413 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-413. Cy Pres

  Except as otherwise provided in subsection (2) of this section, if a particular charitable purpose becomes unlawful, impracticable, impossible to achieve, or wasteful:   The trust does not fail, in whole or in part;    The trust property does not revert to the settlor or the settlor's successors in interest; and    The court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes.       A provision in the terms of a charitable trust that would result in distribution of the trust property to a noncharitable beneficiary prevails over the power of the court pursuant to subsection (1) of this section to apply cy pres to modify or terminate the trust only if, when the provision takes effect:   The trust property is to revert to the settlor and the settlor is still living; or    Fewer than twenty-one years have elapsed since the date of the trust's creation.        History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1164, § 1, effective January 1, 2019.
CO Code § 15-5-414 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-414. Modification or Termination of Uneconomic Trust

  After notice to the qualified beneficiaries, the trustee of a trust property having a total value less than one hundred thousand dollars may terminate the trust if the trustee concludes that the value of the trust property is insufficient to justify the cost of administration.    The court may modify or terminate a trust or remove the trustee and appoint a different trustee if it determines that the value of the trust property is insufficient to justify the cost of administration.    Upon termination of a trust pursuant to this section, the trustee shall distribute the trust property in a manner consistent with the purposes of the trust.    This section does not apply to an easement for conservation or preservation.     History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1165, § 1, effective January 1, 2019.
CO Code § 15-5-415 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-415. Reformation to Correct Mistakes

 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.   History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1165, § 1, effective January 1, 2019.
CO Code § 15-5-416 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-416. Modification to Achieve Settlor's Tax Objectives

 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.   History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1165, § 1, effective January 1, 2019.
CO Code § 15-5-417 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 4 - Creation, Validity, Modification, and Termination of Trust|§ 15-5-417. Combination and Division of Trusts

 After notice to the qualified beneficiaries and trust directors, a trustee may combine two or more trusts into a single trust or divide a trust into two or more separate trusts, if the result does not impair the rights of any beneficiary or adversely affect achievement of the purposes of the trust.   History. Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1165, § 1, effective January 1, 2019. L. 2019: Entire section amended, (SB 19-105), ch. 51, p. 174, § 6, effective August 2.
CO Code § 15-5-501 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 5 - Creditor's Claims - Spendthrift and Discretionary Trusts|§ 15-5-501. Rights of Beneficiary's Creditor or Assignee

 Except as provided in section 15-5-504 , to the extent a beneficiary's interest is not subject to a spendthrift provision, the court may authorize a creditor or assignee of the beneficiary to attach present or future distributions to or for the benefit of the beneficiary. The court may limit the award to such relief as is appropriate under the circumstances. Nothing in this part 5 modifies other Colorado law governing limitations on the amounts that may be applied to the satisfaction of a creditor's claim, or the procedures by which a creditor may attempt to satisfy a claim.   History. Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 939, § 1, effective September 7.
CO Code § 15-5-502 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 5 - Creditor's Claims - Spendthrift and Discretionary Trusts|§ 15-5-502. Spendthrift Provision

  A spendthrift provision is valid only if it restrains both voluntary and involuntary transfer of a beneficiary's interest.    A term of a trust providing that the interest of a beneficiary is held subject to a “spendthrift trust”, or words of similar import, is sufficient to restrain both voluntary and involuntary transfer of the beneficiary's interest.    A beneficiary may not transfer an interest in a trust in violation of a valid spendthrift provision and, except as otherwise provided in this part 5, a creditor or assignee of the beneficiary may not reach the interest or a distribution by the trustee before its receipt by the beneficiary.    A trustee of a trust that is subject to a spendthrift provision may make a distribution that is required or authorized by the terms of the trust by applying the distribution for the beneficiary's benefit. A creditor or assignee of the beneficiary may not reach a distribution that is applied for the beneficiary's benefit, and no trustee is liable to any creditor of a beneficiary for making such a distribution.    Real property or tangible personal property that is owned by the trust but that is made available for a beneficiary's use or occupancy in accordance with the trustee's authority under the terms of the trust is not considered to have been distributed by the trustee or received by the beneficiary for purposes of allowing a creditor or assignee of the beneficiary to reach the property.     History. Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 939, § 1, effective September 7.
CO Code § 15-5-503 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 5 - Creditor's Claims - Spendthrift and Discretionary Trusts|§ 15-5-503. Exceptions to Spendthrift Provision - Definitions

  In this section:   “Child” includes any person or entity who can enforce a child support order in this or another state.    “Child support order” means any administrative or court order requiring the payment of child support, child support arrears, child support debt, retroactive support, or medical support. If a child support order is combined with an order for spousal maintenance or support, the term “child support order” shall not include any portion of the order for spousal maintenance or support.       A spendthrift provision is unenforceable against:   A child who is an obligee pursuant to a child support order for which the beneficiary is the obligor; and    A judgment creditor who has provided essential services for the protection of a beneficiary's interest in the trust. (2.5) Subsection (2) of this section does not apply to a special needs trust, supplemental needs trust, or similar trust established for a person if its application could invalidate such a trust's exemption from consideration as a countable resource for medicaid or supplemental security income purposes or if its application has the effect or potential effect of rendering the person ineligible for any program of public benefit, including, but not limited to, medicaid and supplemental security income.       The only remedy of a claimant against whom a spendthrift provision cannot be enforced is to obtain from a court an order attaching present or future distributions to or for the benefit of the beneficiary. The court may limit the award to such relief as is appropriate under the circumstances.     History. Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 940, § 1, effective September 7.
CO Code § 15-5-504 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 5 - Creditor's Claims - Spendthrift and Discretionary Trusts|§ 15-5-504. Discretionary Trusts - Effect of Standard - Definitions

  In this section:   “Child” includes any person or entity who can enforce a child support order in this or another state.    “Child support order” means any administrative or court order requiring the payment of child support, child support arrears, child support debt, retroactive support, or medical support. If a child support order is combined with an order for spousal maintenance or support, the term “child support order” shall not include any portion of the order for spousal maintenance or support.       Except as otherwise provided in subsection (3) of this section, whether or not a trust contains a spendthrift provision, a creditor of a beneficiary may not compel a distribution that is subject to the trustee's discretion, even if:   The discretion is expressed in the form of a standard of distribution; or    The trustee has abused the discretion.       To the extent a trustee has not complied with a standard of distribution or has abused a discretion:   A distribution may be ordered by the court to satisfy a child support order to which the beneficiary is an obligee; and    The court shall direct the trustee to pay to the child such amount as is equitable under the circumstances but not more than the amount the trustee would have been required to distribute to or for the benefit of the beneficiary had the trustee complied with the standard or not abused the discretion. (3.5) Subsection (3) of this section does not apply to a special needs trust, supplemental needs trust, or similar trust established for a person if its application could invalidate such a trust's exemption from consideration as a countable resource for medicaid or supplemental security income purposes or if its application has the effect or potential effect of rendering such person ineligible for any program of public benefit, including, but not limited to, medicaid and supplemental security income.       This section does not limit the right of a beneficiary to maintain a judicial proceeding against a trustee for an abuse of discretion or failure to comply with a standard for distribution.    If the trustee's or cotrustee's discretion to make distributions for the trustee's or cotrustee's own benefit is limited by an ascertainable standard, a creditor may not reach or compel distribution of the beneficial interest except to the extent the interest would be subject to the creditor's claim were the beneficiary not acting as trustee or cotrustee.     History. Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 941, § 1, effective September 7.
CO Code § 15-5-505 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 5 - Creditor's Claims - Spendthrift and Discretionary Trusts|§ 15-5-505. Creditor's Claim Against a Settlor

  Whether or not the terms of a trust contain a spendthrift provision, the following rules apply:   During the lifetime of the settlor, the property of a revocable trust is subject to claims of the settlor's creditors.    With respect to an irrevocable trust, a creditor or assignee of the settlor may reach the maximum amount that can be distributed to or for the settlor's benefit. If a trust has more than one settlor, the amount the creditor or assignee of a particular settlor may reach may not exceed the settlor's interest in the portion of the trust attributable to that settlor's contribution.    After the death of a settlor, the property of a trust that was revocable at the settlor's death is subject to claims and allowances as provided in section 15-15-103. (1.5)   For the purposes of subsection (1)(b) of this section, none of the following shall be considered an amount that can be distributed to or for the benefit of the settlor:   Trust property that could be, but has not yet been, distributed to or for the benefit of the settlor only as a result of the exercise of a power of appointment held in a nonfiduciary capacity by any person other than the settlor;    Trust property that could be, but has not yet been, distributed to or for the benefit of the settlor of a trust pursuant to the power of the trustee to make distributions or pursuant to the power of another in a fiduciary capacity to direct distributions, if and to the extent that the distributions could be made from trust property the value of which was included in the gross estate of the settlor's spouse for federal estate tax purposes under section 2041 or section 2044 of the “Internal Revenue Code of 1986”, as amended, or that was treated as a transfer by the settlor's spouse under section 2514 or section 2519 of the “Internal Revenue Code of 1986”, as amended; and    Trust property that, pursuant to the exercise of a discretionary power by a person other than the settlor, could be paid to a taxing authority or to reimburse the settlor for any income tax on trust income or principal that is payable by the settlor under the law imposing the tax.       Subsection (1)(b) of this section does not apply to an irrevocable special needs trust established for a disabled person as described in 42 U.S.C. sec. 1396p (d)(4) or similar federal law governing the transfer to such a trust.          (Reserved)      History. Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 942, § 1, effective September 7.
CO Code § 15-5-506 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 5 - Creditor's Claims - Spendthrift and Discretionary Trusts|§ 15-5-506. Overdue Distribution - Definition

  In this section, “mandatory distribution” means a distribution of income or principal which the trustee is required to make to a beneficiary under the terms of the trust, including a distribution upon termination of the trust. The term does not include a distribution subject to the exercise of the trustee's discretion, even if the discretion is expressed in the form of a standard of distribution, or the terms of the trust authorizing a distribution couple language of discretion with language of direction.    Whether or not a trust contains a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the designated distribution date.     History. Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 943, § 1, effective September 7.
CO Code § 15-5-507 (2021)
2021 Colorado Code|Title 15 - Probate, Trusts, and Fiduciaries|Article 5 - Colorado Uniform Trust Code|Part 5 - Creditor's Claims - Spendthrift and Discretionary Trusts|§ 15-5-507. Personal Obligations of Trustee

 Trust property is not subject to personal obligations of the trustee, even if the trustee becomes insolvent or bankrupt.   History. Source: L. 2021: Entire part added, (SB 21-162), ch. 170, p. 943, § 1, effective September 7.