Notice of Trust to Qualified Beneficiaries (Colorado Uniform Trust Code, C.R.S. § 15-5-813)

NOTICE OF TRUST TO QUALIFIED BENEFICIARIES

Pursuant to Colorado Uniform Trust Code, C.R.S. § 15-5-813

I. IDENTIFICATION OF NOTICE

II. IDENTIFICATION OF TRUST

III. TRIGGERING EVENT (C.R.S. § 15-5-813(2))

The undersigned Trustee provides this Notice because of the following triggering event:

☐ Acceptance of Trusteeship — § 15-5-813(2)(b). Trustee accepted appointment on [__/__/____]. This Notice is served within sixty (60) days of acceptance.

☐ Creation of Irrevocable Trust — § 15-5-813(2)(c). Trustee acquired knowledge of the creation of an irrevocable trust on [__/__/____]. This Notice is served within sixty (60) days of that knowledge.

☐ Formerly Revocable Trust Has Become Irrevocable — § 15-5-813(2)(c). The trust became irrevocable on [__/__/____] by reason of:
☐ Death of settlor [________________________________];
☐ Other (specify): [________________________________].
Trustee acquired knowledge on [__/__/____]. This Notice is served within sixty (60) days of that knowledge.

☐ Change in Method or Rate of Trustee Compensation — § 15-5-813(2)(d). Advance notice; effective date [__/__/____].

IV. STATUTORY DISCLOSURES (C.R.S. § 15-5-813(2)(c))

Each qualified beneficiary is hereby notified of the following:

1. Existence of the Trust. The trust identified in Section II exists and is now irrevocable (or, if the trigger is acceptance of trusteeship under § 15-5-813(2)(b), continues in administration under the trustee identified in Section I).

2. Identity of the Settlor(s). The settlor(s) of the trust are identified in Section II.

3. Right to Request Trust Portions. Each qualified beneficiary has the right, upon request to the Trustee, to be furnished promptly with a copy of the portions of the trust instrument that describe or affect the beneficiary's interest (C.R.S. § 15-5-813(2)(a)).

4. Right to a Trustee's Report. Each qualified beneficiary has the right to a trustee's report at least annually and at the termination of the trust, containing the property, liabilities, receipts, and disbursements of the trust (including the source and amount of the trustee's compensation), a listing of trust assets, and (if feasible) their market values (C.R.S. § 15-5-813(3)).

5. Right to Reasonable Information. The Trustee shall keep qualified beneficiaries reasonably informed about the administration of the trust and of the material facts necessary for them to protect their interests, and shall promptly respond to reasonable information requests (C.R.S. § 15-5-813(1)).

V. QUALIFIED BENEFICIARY DEFINITION (C.R.S. § 15-5-103(15))

A "Qualified Beneficiary" is a beneficiary who, on the date of qualification:

(a) Is a distributee or permissible distributee of trust income or principal;

(b) Would be a distributee or permissible distributee of trust income or principal if the interests of the distributees described in subparagraph (a) terminated on that date without causing the trust to terminate; OR

(c) Would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.

A charitable organization expressly designated to receive distributions, or a beneficiary who notifies the trustee under C.R.S. § 15-5-110, may also be treated as a qualified beneficiary.

VI. QUALIFIED BENEFICIARIES SERVED WITH THIS NOTICE

VII. REPRESENTATION (C.R.S. §§ 15-5-301 to 15-5-305)

The following minor, incapacitated, unborn, or unascertained beneficiaries are represented by, and bound through, the persons listed below pursuant to Part 3 of Article 5:

Notice has been served on each representative listed above; such service constitutes notice to the represented beneficiary.

VIII. ADDITIONAL DISCLOSURES (OPTIONAL — INCLUDE IF APPLICABLE)

☐ Trust Protector (C.R.S. § 15-5-808.5). The following person is serving as Trust Protector with the powers identified in the trust instrument: [________________________________]. Contact: [________________________________].

☐ Anticipated Decanting (C.R.S. §§ 15-16-901 et seq.). The Trustee (or other authorized fiduciary) is considering exercise of decanting authority under the Colorado Uniform Trust Decanting Act. A separate notice satisfying C.R.S. § 15-16-903 will be served not less than the statutorily required period in advance of the proposed effective date of any decanting exercise.

☐ Trustee Compensation Disclosure. Trustee compensation is computed at: [________________________________]. Any change in method or rate will be preceded by advance notice under § 15-5-813(2)(d).

IX. TRUSTEE'S CONTACT INFORMATION FOR REQUESTS

Any qualified beneficiary may request (a) a copy of the portions of the trust instrument describing or affecting the beneficiary's interest, (b) a trustee's report under § 15-5-813(3), or (c) other information reasonably related to the administration of the trust, by contacting:

X. TRUSTEE'S VERIFICATION

I, the undersigned Trustee of the trust identified in Section II, declare under penalty of perjury under the laws of the State of Colorado that the foregoing Notice is true and correct, that I am the Trustee identified in Section I, and that I am serving this Notice in compliance with C.R.S. § 15-5-813(2).

XI. PROOF OF SERVICE

The undersigned declares:

1. I am over the age of eighteen (18) and not a party to this matter.
2. On [__/__/____], I served the foregoing NOTICE OF TRUST TO QUALIFIED BENEFICIARIES on each qualified beneficiary (or representative under C.R.S. §§ 15-5-301 to 15-5-305) listed in Section VI, by the method indicated for that recipient.
3. For service by mail, I placed a true and complete copy of the Notice in a sealed envelope, postage fully prepaid, addressed to the recipient at the address shown in Section VI, and deposited the envelope with the United States Postal Service via Certified Mail, Return Receipt Requested. Article numbers and return-receipt evidence are attached.
4. For service by personal delivery or by consented electronic transmission, I describe the manner of service in the attached service log.

I declare under penalty of perjury under the laws of the State of Colorado that the foregoing is true and correct.

SOURCES AND REFERENCES

• C.R.S. § 15-5-813 — Duty to Inform and Report
• C.R.S. § 15-5-103(15) — Definition of "Qualified Beneficiary"
• C.R.S. § 15-5-105 — Mandatory Rules (Colorado-modified)
• C.R.S. § 15-5-109 — Methods and Waiver of Notice
• C.R.S. § 15-5-110 — Others Treated as Qualified Beneficiaries
• C.R.S. §§ 15-5-301 to 15-5-305 — Representation
• C.R.S. § 15-5-808.5 — Trust Protector
• C.R.S. § 15-5-1005 — Limitation of Actions Against Trustee
• C.R.S. §§ 15-16-901 to 15-16-931 — Colorado Uniform Trust Decanting Act
• Colorado Uniform Trust Code, effective January 1, 2019