Colo. Rev. Stat. § 15-5-503

Current through Chapter 519 of the 2024 Legislative Session and Chapter 2 of the 2024 First Extraordinary Session
Section 15-5-503 - Exceptions to spendthrift provision - definitions
(1) In this section:
(a) "Child" includes any person or entity who can enforce a child support order in this or another state.
(b) "Child support order" means any administrative or court order requiring the payment of child support, child support arrears, child support debt, retroactive support, or medical support. If a child support order is combined with an order for spousal maintenance or support, the term "child support order" shall not include any portion of the order for spousal maintenance or support.
(2) A spendthrift provision is unenforceable against:
(a) A child who is an obligee pursuant to a child support order for which the beneficiary is the obligor; and
(b) A judgment creditor who has provided essential services for the protection of a beneficiary's interest in the trust.
(2.5) Subsection (2) of this section does not apply to a special needs trust, supplemental needs trust, or similar trust established for a person if its application could invalidate such a trust's exemption from consideration as a countable resource for medicaid or supplemental security income purposes or if its application has the effect or potential effect of rendering the person ineligible for any program of public benefit, including, but not limited to, medicaid and supplemental security income.
(3) The only remedy of a claimant against whom a spendthrift provision cannot be enforced is to obtain from a court an order attaching present or future distributions to or for the benefit of the beneficiary. The court may limit the award to such relief as is appropriate under the circumstances.

C.R.S. § 15-5-503

Added by 2021 Ch. 170,§1, eff. 9/7/2021.