C.R.S. § 15-1.2-502 Disbursement From Principal

• Library: Colorado Statutes
• Edition: 2023
• Currency: Current through 2023 Regular and 1st Extraordinary Session
• Year: 2023
• Citation: C.R.S. § 15-1.2-502

(1) Subject to section 15-1.2-505, and except as otherwise provided in section 15-1.2-601(3)(b), a fiduciary shall disburse from principal:

(a) The balance of the disbursements described in section 15-1.2-501(1)(a) and (1)(c), after application of section 15-1.2-501(1)(b);

(b) The fiduciary's compensation calculated on principal as a fee for acceptance, distribution, or termination;

(c) A payment of an expense to prepare for or execute a sale or other disposition of property;

(d) A payment on the principal of a trust debt;

(e) A payment of an expense of an accounting, judicial or nonjudicial proceeding, or other matter that involves primarily principal, including a proceeding to construe the terms of the trust or protect property;

(f) A payment of a premium for insurance, including title insurance, not described in section 15-1.2-501(1)(d), of which the fiduciary is the owner and beneficiary;

(g) A payment of an estate or inheritance tax or other tax imposed because of the death of a decedent, including penalties, apportioned to the trust; and

(h) A payment:

(I) Related to environmental matters, including: