2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO PROBATE CODE (§§ 15-10-101 — 15-17-103) › Article 10 - GENERAL PROVISIONS, DEFINITIONS, JURISDICTION (§§ 15-10-101 — 15-10-606) › Part 5 - FIDUCIARY OVERSIGHT, REMOVAL, SANCTIONS, AND CONTEMPT (§§ 15-10-501 — 15-10-505) › Section 15-10-503 - Power of a court to address the conduct of a fiduciary - emergencies - nonemergencies

(1)
Emergency situations - court action without the requirement of prior notice or hearing.
If it appears to a court that an emergency exists because a fiduciary's actions or omissions pose an imminent risk of substantial harm to a ward's or protected person's health, safety, or welfare or to the financial interests of an estate, the court may, on its own motion or upon the request of an interested person, without a hearing and without following any of the procedures authorized by section
15-10-502
, order the immediate restraint, restriction, or suspension of the powers of the fiduciary; direct the fiduciary to appear before the court; or take such further action as the court deems appropriate to protect the ward or protected person or the assets of the estate. If a court restrains, restricts, or suspends the powers of a fiduciary, the court shall set a hearing and direct that notice be given pursuant to section
15-10-505
. The clerk of the court shall immediately note the restraint, restriction, or suspension on the fiduciary's letters, if any. Any action for the removal, surcharge, or sanction of a fiduciary shall be governed by this section. The court shall rule on its motion or the interested person's request within fourteen days after the motion or request is made.
(2)
Nonemergency situations - court action after notice and hearing.
Upon petition by a person who appears to have an interest in an estate, or upon the court's own motion, and after a hearing for which notice to the fiduciary has been provided pursuant to section
15-10-505
, a court may order any one or more of the following:
(a)
Supervised administration of a decedent's estate, as described in part 5 of article
12
of this title. The degree and extent of the supervision shall be endorsed upon the fiduciary's letters, if any.
(b)
A temporary restraint on the fiduciary's performance of specified acts of administration, disbursement, or distribution; a temporary restraint on the fiduciary's exercise of any powers or discharge of any duties of the office of the fiduciary; or any other order to secure proper performance of the fiduciary's duty if it appears to the court that, in the absence of such an order, the fiduciary may take some action that would unreasonably jeopardize the interest of the petitioner or of some other interested person. The court may make persons with whom the fiduciary may transact business parties to any order issued pursuant to this paragraph (b). The restraint shall be endorsed upon the fiduciary's letters, if any.
(c)
Additional restrictions on the powers of the fiduciary. The restrictions shall be endorsed upon the fiduciary's letters, if any.
(d)
The suspension of the fiduciary if the court determines that the fiduciary has violated his, her, or its fiduciary duties. If a court orders the suspension of a fiduciary pursuant to this paragraph (d), the court shall direct that the suspension be endorsed upon the fiduciary's letters, if any.
(e)
The appointment of a temporary or permanent successor fiduciary;
(f)
A review of the fiduciary's conduct. If a court orders a review of the fiduciary's conduct, the court shall specify the scope and duration of the review in the court's order.
(g)
A surcharge or sanction of the fiduciary pursuant to section
15-10-504
;
(h)
The removal of the fiduciary; or
(i)
Such further relief as the court deems appropriate to protect the ward or protected person or the assets of the estate.
(3)
Removal of a fiduciary - procedures.
A court may remove a fiduciary for cause at any time, and the following provisions apply:
(a)
If a court orders the removal of a fiduciary, the court shall direct by order the disposition of the assets remaining in the name of, or under the control of, the fiduciary being removed.
(b)
If a court orders the removal of a fiduciary, the court shall direct that the fiduciary's letters, if any, be revoked and that such revocation be endorsed upon the fiduciary's letters, if any.
(c)
Cause for removal of a fiduciary exists when:
(I)
Removal would be in the best interests of the estate;
(II)
It is shown that the fiduciary or the person seeking the fiduciary's appointment intentionally misrepresented material facts in the proceedings leading to the fiduciary's appointment; or
(III)
The fiduciary has disregarded an order of the court, has become incapable of discharging the duties of the office, or has mismanaged the estate or failed to perform any duty pertaining to the office.
(4)
Petition for removal - temporary restraints on fiduciary powers.
After a fiduciary receives notice of the filing of a petition for his, her, or its removal, the fiduciary shall not act except to account, to correct maladministration, or to preserve the estate.
Amended by 2020 Ch. 270,§5, eff. 9/1/2020.
Amended by 2016 Ch. 286,§1, eff. 8/10/2016.
L. 2008: Entire part added, p. 478, § 1, effective July 1.
Section 6(2) of chapter 270 (SB 20-129), Session Laws of Colorado 2020, provides that the act changing this section applies to appointments made on or after September 1, 2020.
2020 Ch. 270, was passed without a safety clause. See Colo. Const. art. V, § 1(3).