Trust Administration Attorney in Colorado Springs
Guidance for Successor Trustees & Beneficiaries in El Paso County
Being named a successor trustee carries real legal responsibility. Trust administration is the process of managing and distributing a trust’s assets after the person who created the trust dies or becomes incapacitated, and the successor trustee named in the trust document takes on those duties the moment the original trustee can no longer serve. Drexler Law has guided Colorado Springs families through estate planning and trust-related matters since 2014, and we understand how quickly those duties can feel overwhelming.
Call us at (719) 259-0050 or contact our team to schedule a free consultation with a trusts administration attorney in Colorado Springs.
What Colorado Law Requires of a Successor Trustee
Trustee duties in Colorado are governed by the Colorado Uniform Trust Code, found in Title 15, Article 5 of the Colorado Revised Statutes. The timeline starts immediately. Under C.R.S. 15-5-813, a trustee must notify qualified beneficiaries within 60 days of accepting the trusteeship, providing the trustee’s name, address, and contact information. When a revocable trust becomes irrevocable at the settlor’s death, that same 60-day window applies for notifying beneficiaries of the trust’s existence, the settlor’s identity, and the beneficiaries’ right to request portions of the trust instrument.
Beyond the notice requirements, administration typically involves:
- Securing and valuing trust assets as of the date of the settlor’s death or incapacity
- Paying outstanding debts and taxes owed by the estate or trust
- Sending an annual trustee’s report to beneficiaries covering trust property, liabilities, receipts, and disbursements
- Distributing remaining property according to the trust’s specific terms
One advantage over probate is that most trust administrations proceed without court supervision, keeping the process private and often moving more efficiently.
Fiduciary Duties & Personal Liability
A trustee isn’t just an administrator. Colorado law imposes a fiduciary duty, meaning the trustee must act in the interests of the beneficiaries, not personal ones. That duty of loyalty is paired with a duty of impartiality when multiple beneficiaries are involved, requiring the trustee to treat each beneficiary’s interests fairly rather than favoring one over another.
Colorado also applies the prudent investor standard: a trustee must administer the trust with the care and caution a prudent person would exercise, and that standard rises when the trustee has financial or accounting skills. Missteps carry consequences. A trustee who breaches a fiduciary duty can be held personally liable for resulting losses, and Colorado courts recognize a prevailing beneficiary’s right to recover reasonable attorney fees in a breach of trust action.
Common breaches include self-dealing, commingling trust and personal funds, failing to provide required accountings, and making distributions that don’t follow the trust’s terms.
A Colorado Springs Team with Over 100 Years of Combined Experience
Our team carries more than 100 years of combined legal experience across family law and estate planning. Multiple attorneys at Drexler Law hold 10.0 Superb Avvo Ratings, and our estate planning practice includes a dedicated probate attorney working alongside attorneys experienced in trusts, guardianship, and wills. That depth matters when a trust administration involves complications that cross practice areas.
We serve clients throughout Colorado Springs and El Paso County, and we’re well acquainted with the local courts and registration practices that affect trust matters here.
Talk to a Trusts Administration Lawyer in Colorado Springs
Acting early after being named a trustee can reduce the risk of missteps that create personal liability. Whether you’re a successor trustee working to understand your obligations or a beneficiary with questions about a trustee’s conduct, we offer a free consultation to help you assess your situation.
Call Drexler Law at (719) 259-0050 or reach us through our contact form to schedule your consultation with a trusts administration lawyer in Colorado Springs.
Hear From Our Clients
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"Outstanding Representation!"
Matthew Drexler represented me during a difficult period of time in my life. He did an outstanding job understanding all of my issues, was very responsive, and gave me the best advice possible. Additionally, his staff was very helpful and the whole team worked together to make this a rather fairly pleasant experience for me. I couldn't have asked for better representation. I am very happy with the end result and I would highly recommend him to anyone who has made the decision to file for a divorce.- Jason R.Colorado Springs, CO -
"They are very thorough, make every effort to be completely prepared, and tell you clearly what to expect."
Great law office! I would recommend anyone in Colorado springs who needs a divorce or family law lawyer to go here. Brian Melton was my attorney but Matt Drexler was involved as well. They are very thorough, make every effort to be completely prepared, and tell you clearly what to expect. Everyone I've worked with has been caring and supportive and it's obvious they understand their clients are going through difficult situations.- Dan L. -
"Everyone on the staff always treated us like family."
Mrs. Drexler was awesome! We had a tuff case, fighting for custody of our grandson after his mother's passing. Mrs. Drexler was very patient and understanding with me, knowing how nervous and confused at times I was. She was quick to respond to emails, no matter the importance! Matt and Caitlin Capo were also great! There was always someone available and willing to help. Everyone on the staff always treated us like family. The cost was definitely worth the knowledgeable and family oriented services we received! We would definitely recommend Drexler Law to anyone in need of a friendly knowledgeable Law firm! Thank you so much to everyone at Drexler Law, for everything you have done for me and my family! A+++++++++- Michael M., CO -
"I made the right decision in choosing Drexler Law Firm."
I had a fantastic experience with Drexler Law firm. A few years ago I had gone through a very rough period in my life, and voluntarily turned over my children to their mother for primary care while I hunted for jobs. However, I did not use an attorney, and wound up giving her complete custody, something I had not expected, and was told I would not get them back. After getting my job back, I researched law firms and saw that Drexler specialized in family law, child support, and custody issues. They were up-front with me on costs and chances of winning my children back. We won. I'm back with my children with fully joint custody, and we even avoided going to court. Having a knowledgeable law firm represent you is the only way to go when everything matters. During the legal back-and-forth process, it was easy to tell that the level of effort, experience, and skill on the part of Drexler was far above the opposing counsel. I made the right decision in choosing Drexler Law Firm.- Mike -
"“If you bungle raising your children, nothing else matters” - Jacqueline Kennedy Onassis"
I am currently going through a lot of tough situations and they are equal parts compassionate, empathetic, honest regarding expectations/expenses, and VERY quick to respond to any questions.- Former ClientColorado Springs, CO -
"Matt and Teresa and their team are outstanding attorneys who went above and beyond to help my family."
Incredible professionalism and outstanding service. Matt and Teresa and their team are outstanding attorneys who went above and beyond to help my family. Thanks to them my family is whole and safe. If you want exceptional representation and attorneys you can count on, Matt and Teresa Drexler are just that.
Thank you again for all you have done for me and my family Matt and Teresa. You and your team are incredible.- Tyler M.
Why Choose Drexler Law?
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Knowledgeable
Our priority is to give our clients the best chance at a fair and favorable outcome.
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Compassionate
We understand that what you are going through is not easy.
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Flexible
We are available and there for you, whenever you need us.
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Experienced
We will vigorously protect your rights as we guide you through the process.
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Comforting
We believe in maintaining a comfortable environment for our clients.
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Family Firm
The benefit of working with a family firm is that we will treat you like family.
