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Whats the purpose of establishing trust accounts in Colorado?

The trust account established by the broker under the provisions of the license law for the purpose of holding funds on behalf of the brokers principal or some other person until consummation or termination of a transaction.

How does a trust work in Colorado?

Living trusts in Colorado You name a trustee, the person who will manage the assets. It can be anyone and many people name themselves (with a successor trustee in place for after your death). The trust directs that the assets be maintained and used for the trustmakers benefit during life by the trustee.

Do trusts have to be registered in Colorado?

Colorado has a statute which says the trustee of a trust having its principal place of administration in Colorado shall, within thirty days after his or her acceptance of the trust, register the trust in the court of this state at the principal place of administration.

How do I file a motion in Colorado?

How to File For a Motion to Enforce Download and complete the required forms. These are available online on the Colorado court website. File the completed forms with the court. Provide the other party with a copy of the motion by mail. Wait for further updates from the court on hearings or direct rulings.

Is a trust a legal entity in Colorado?

You will want to review it with your estate planner to determine if it would benefit your estate. An irrevocable living trust becomes an entirely separate legal entity that holds your assets.

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