(1) Except as otherwise provided in subsections (2) and (3) of this section, this part 9 applies to an express trust that is: (a) Irrevocable; or (b) Revocable by the settlor only with the consent of the trustee or a person holding an adverse interest. (2) This part 9 does not apply to a trust held solely for charitable purposes. (3) Subject to section 15-16-915, a trust instrument may restrict or prohibit exercise of the decanting power. (4) This part 9 does not limit the power of a trustee, powerholder, or other person to distribute or appoint property in further trust or to modify a trust under the trust instrument, law of this state other than this part 9, common law, a court order, or a nonjudicial settlement agreement. (5) This part 9 does not affect the ability of a settlor to provide in a trust instrument for the distribution of the trust property or appointment in further trust of the trust property or for modification of the trust instrument. (6) (a) Neither this part 9 nor an exercise of the decanting power described in this part 9 affects: (I) The determination whether a beneficial interest in a first trust or second trust is property or an asset of a spouse for purposes of distribution of property under section 14-10-113, C.R.S.; or (II) The power of a divorce court to fashion remedies between the parties in an action under title 14, C.R.S. (b) Nothing in this subsection (6) expands or limits the power of a divorce court in law or equity over a first trust or a second trust or any trustee thereof. (c) As used in this subsection (6), unless the context requires otherwise, "divorce court" means a court in this state having jurisdiction over matters brought pursuant to title 14, C.R.S.
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