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Legislative Year: 2021 Change
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Bill Detail: SB21-162

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Title Colorado Uniform Trust Code Part 5
Status Governor Signed (05/21/2021)
Bill Subjects
  • Probate, Trusts, & Fiduciaries
House Sponsors M. Snyder (D)
M. Soper (R)
Senate Sponsors R. Gardner (R)
House Committee Judiciary
Senate Committee Judiciary
Date Introduced 03/02/2021
Summary

Colorado Commission on Uniform State Laws. In 2018, the
general assembly enacted portions of the Uniform Trust Code (UTC) as
the Colorado Uniform Trust Code. Part 5 of the UTC, which relates to
spendthrift provisions in trusts, was not included in the 2018 act. A
spendthrift provision in a trust prevents both voluntary and involuntary
transfer of a trust beneficiary's interest.

The bill enacts part 5 of the UTC, including a number of
Colorado-specific amendments. The bill addresses the validity of
spendthrift provisions and the rights of creditors, both of the settlor and
beneficiaries, to reach a trust to collect a debt. The bill provides certain
exceptions that allow children for whom an order or judgment for child
support has been entered to reach a trust in order to satisfy the child
support order or judgment.

Committee Reports
with Amendments
Full Text
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Fiscal Notes Fiscal Notes (03/23/2021) (most recent)  
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