(1) Notice. Except as provided in subsection (3) of this section, notice to a fiduciary concerning any matters governed by the provisions of this section shall be provided pursuant to section 15-10-505.
(2) Surcharge. (a) If a court, after a hearing, determines that a breach of fiduciary duty has occurred or an exercise of power by a fiduciary has been improper, after applying the standards of care applicable to each fiduciary in a proceeding, the court may surcharge the fiduciary for any damage or loss to the estate, beneficiaries, or interested persons. Such damages may include compensatory damages, interest, and attorney fees and costs. When allocating any such damages among fiduciaries, the court shall consider the standards of care applicable to the fiduciaries in the proceeding.
(b) In awarding attorney fees and costs pursuant to this section, a court may consider the provisions of part 6 of this article 10 and shall consider the standards of care applicable to the fiduciaries in the proceeding.
(3) Contempt proceedings against fiduciary. Nothing in this part 5 shall be interpreted to limit or restrict a court's authority to proceed against a fiduciary for direct contempt as provided in rule 107 of the Colorado rules of civil procedure. In addition, if a fiduciary fails to comply with an order of a court issued pursuant to this part 5, the court may proceed against the fiduciary for indirect contempt as provided in rule 107 of the Colorado rules of civil procedure. A court may initiate indirect contempt proceedings on its own motion or upon the filing of a motion supported by affidavit as described in rule 107 of the Colorado rules of civil procedure.
(4) Sanctions. If a court determines that a breach of fiduciary duty has occurred or an exercise of power by a fiduciary has been improper, the court, after a hearing, may order such other sanctions as the court deems appropriate, but the court shall take into account the standards of care applicable to each fiduciary in the proceeding.
(5) Remedies. If remedies are sought against a directed trustee for complying with the direction of a trust director under the "Colorado Uniform Directed Trust Act", part 8 of article 16 of this title 15, or comparable arrangement created under the terms of a trust, the court shall take into account the standards of care applicable to each fiduciary in the proceeding when apportioning damages, fees, costs, or fault among the fiduciaries.
Source: L. 2008: Entire part added, p. 480, § 1, effective July 1. L. 2011: (2)(b) amended, (SB 11-083), ch. 101, p. 302, § 2, effective August 10. L. 2019: (2) and (4) amended and (5) added, (SB 19-105), ch. 51, p. 175, § 11, effective August 2.
Notes of Decisions
In re Donald C. Taylor & Margaret Ann Taylor Trust, 2016 COA 100 (Colo. Ct. App. 2016).
· cites it 61× “Section 15-10-504 authorizes various sanctions, to be imposed by the court, for breaches of fiduciary duty or other improper conduct by fiduciaries.”
In re the Interest of Black, 2018 COA 7 (Colo. Ct. App. 2018).
· cites it 7× “9 ¶ 25 Section 15-10-504, C.R.S. 2017, sets forth remedies, including imposition of a surcharge, against a fiduciary who has breached his fiduciary duties: (2) Surcharge.”
of Treviño, 2020 COA 125 (Colo. Ct. App. 2020).
· cites it 8× “§ 15-10-504. Victoria’s actions violated this duty.”
of Chavez, 2020 COA 70 (Colo. Ct. App. 2020).
· cites it 5× “Of note, that order states as follows: [Daughter] seeks a surcharge against [son] for any damage or loss to [mother’s] estate pursuant to § 15-10-504(2), C.R.S. [Daughter] intends to submit a Bill of Costs which will also include an affidavit of attorney’s fees.”
In re the Est. of Sandstead, 2016 COA 49 (Colo. Ct. App. 2016).
· cites it 13× “19 Thus, surcharging her for the estate’s benefit for acts prior to her appointment (and which related to non-estate funds) was not allowed by section 15-10-504. ¶58 Because the money in the joint bank accounts was never estate property, and because Sandstead did not act as a…”
Sandstead v. Corona (In re Est. of Sandstead), 412 P.3d 799 (Colo. Ct. App. 2016).
· cites it 13× “19 Thus, surcharging her for the estate's benefit for acts prior to her appointment (and which related to non-estate funds) was not allowed by section 15-10-504. ¶ 59 Because the money in the joint bank accounts was never estate property, and because Sandstead did not act as a…”
Sandstead-Corona v. Sandstead—Implied Trusts—, 2018 CO 26 (Colo. 2018).
· cites it 3× “See § 15-10-504(2). E. No-Contest Clause ¶ 59 Having decided that the trial court had the authority to surcharge Sandstead for her actions regarding the funds in the Citizens Bank Accounts, we must consider whether the division erred in affirming the trial court's application of…”
Foiles v. Foiles, 338 P.3d 1098 (Colo. Ct. App. 2014).
· cites it 2× “See § 15-10-504(2)(a), C.R.S. 2018 (If a court "determines that a breach of fiduciary duty has occurred or an exercise of power by a fiduciary has been improper, the court may surcharge the fiduciary for any damage or loss to the estate, beneficiaries, or interested persons.”
In the Interest of Delluomo v. Cedarblade, 328 P.3d 291 (Colo. Ct. App. 2014).
· cites it 2× “2018; and (3) surcharge proceedings under the Colorado Probate Code, see § 15-10-504, C.R.S. 2013. 4 Plaintiffs do not explain why the fact that attorney fees may be awarded in these other contexts affects the seope of the breach of trust exception.”
In re the Est. of Sandstead, 2016 COA 49 (Colo. Ct. App. 2016).
· cites it 13× “19 Thus, surcharging her for the estate’s benefit for acts prior to her appointment (and which related to non-estate funds) was not allowed by section 15-10-504. ¶58 Because the money in the joint bank accounts was never estate property, and because Sandstead did not act as a…”
Est. of Sturm (Colo. Ct. App. 2024).
· cites it 7× “¶8 As identified above, the two separate attorney fees and costs provisions relevant to this appeal are sections 15-10-504(2) and 15- 10-602(7). ¶9 Section 15-10-504(2) provides that if a court determines after a hearing that a fiduciary has breached their duty, “the court may…”
Est. of Romero (Colo. Ct. App. 2025).
· cites it 4× “2024 (surcharge damages for a breach of fiduciary duty may include attorney fees and costs).”
Colo. Rev. Stat. § 15-10-504(2): 8 cases
of Chavez, 2020 COA 70 (Colo. Ct. App. 2020).
“Of note, that order states as follows: [Daughter] seeks a surcharge against [son] for any damage or loss to [mother’s] estate pursuant to § 15-10-504(2), C.R.S. [Daughter] intends to submit a Bill of Costs which will also include an affidavit of attorney’s fees.”
of Treviño, 2020 COA 125 (Colo. Ct. App. 2020).
“§ 15-10-504. Victoria’s actions violated this duty.”
In re the Est. of Sandstead, 2016 COA 49 (Colo. Ct. App. 2016).
“19 Thus, surcharging her for the estate’s benefit for acts prior to her appointment (and which related to non-estate funds) was not allowed by section 15-10-504. ¶58 Because the money in the joint bank accounts was never estate property, and because Sandstead did not act as a…”
Sandstead v. Corona (In re Est. of Sandstead), 412 P.3d 799 (Colo. Ct. App. 2016).
“19 Thus, surcharging her for the estate's benefit for acts prior to her appointment (and which related to non-estate funds) was not allowed by section 15-10-504. ¶ 59 Because the money in the joint bank accounts was never estate property, and because Sandstead did not act as a…”
Colo. Rev. Stat. § 15-10-504(2)(a): 14 cases
of Treviño, 2020 COA 125 (Colo. Ct. App. 2020).
“§ 15-10-504. Victoria’s actions violated this duty.”
In re the Interest of Black, 2018 COA 7 (Colo. Ct. App. 2018).
“9 ¶ 25 Section 15-10-504, C.R.S. 2017, sets forth remedies, including imposition of a surcharge, against a fiduciary who has breached his fiduciary duties: (2) Surcharge.”
of Chavez, 2020 COA 70 (Colo. Ct. App. 2020).
“Of note, that order states as follows: [Daughter] seeks a surcharge against [son] for any damage or loss to [mother’s] estate pursuant to § 15-10-504(2), C.R.S. [Daughter] intends to submit a Bill of Costs which will also include an affidavit of attorney’s fees.”
In re the Est. of Sandstead, 2016 COA 49 (Colo. Ct. App. 2016).
“19 Thus, surcharging her for the estate’s benefit for acts prior to her appointment (and which related to non-estate funds) was not allowed by section 15-10-504. ¶58 Because the money in the joint bank accounts was never estate property, and because Sandstead did not act as a…”
Colo. Rev. Stat. § 15-10-504(2)(b): 1 case
Est. of Sturm (Colo. Ct. App. 2024).
“¶8 As identified above, the two separate attorney fees and costs provisions relevant to this appeal are sections 15-10-504(2) and 15- 10-602(7). ¶9 Section 15-10-504(2) provides that if a court determines after a hearing that a fiduciary has breached their duty, “the court may…”
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