Colo. Rev. Stat. § 15-16-917
Relief from liability and indemnification
Colorado · Colorado Revised Statutes Title 15 — Probate, Trusts, and Fiduciaries · Status: effective
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- Citation
- Colo. Rev. Stat. § 15-16-917, Relief from liability and indemnification, Colorado, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2294514
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Full text
(1) Except as otherwise provided in this section, a second-trust instrument may not relieve an authorized fiduciary from liability for breach of trust to a greater extent than the first-trust instrument.
(2) A second-trust instrument may provide for indemnification of an authorized fiduciary of the first trust or another person acting in a fiduciary capacity under the first trust for any liability or claim that would have been payable from the first trust if the decanting power had not been exercised.
(3) A second-trust instrument may not reduce fiduciary liability in the aggregate.
(4) Subject to subsection (3) of this section, a second-trust instrument may divide and reallocate fiduciary powers among fiduciaries, including one or more trustees, distribution advisors, investment advisors, trust protectors, or other persons, and relieve a fiduciary from liability for an act or failure to act of another fiduciary as permitted by law of this state other than this part 9.