Colorado’s new trust code takes effect January 1, 2019 and is generally bad for trust creators. The bad news is that Colorado’s new law further devalues privacy and protection. The good news is that the law is generally a “default” law and many of the less desirable provisions can be avoided with careful planning. The better news is that the trust can be completely avoided with proactive planning under a better jurisdiction’s laws. Read on.
Trust funding can be confusing and it’s a process that must be maintained for a trust to work. Successful funding is the difference between an estate plan that looks good on paper and one that actually does what it’s supposed to do when it really matters.