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  • Writer's picturemelissadoughertyan

Responsibilities of the Trustee

Updated: 1 day ago

In the state of Colorado, trustees hold a variety of responsibilities outlined by state laws and those determined by trust documents. Because Colorado is a Uniform Trust Code State, trustees have a duty to report to beneficiaries of the trust and is expected to act in the best interest of all beneficiaries. These duties include:

· Duty to promote the interest of the trust and its beneficiaries

· Duty to accurately account for the trust’s holdings

· Duty to pay taxes on behalf of the trust

· Duty to comply with the terms of the trust

· Duty to separately maintain the trust’s holdings

With this, it is important to hire a probate attorney to assist trustees with the Trust Administration process to ensure that the trustee is following all the primary duties of a trustee outlined by Colorado law.

By Legal Assistant Hannah Bingaman

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