If the trust was signed on or after September 30, 2024, confirm that it is on the current form titled Irrevocable Income Trust Agreement.
Confirm that the date and the applicant/member’s legal name are on the trust agreement and that the settlor and trustee have signed page 7 of the trust agreement. Notarization of these signatures is preferred but not required.
If the documents were signed by someone other than the applicant/member on their behalf, include a copy of the document(s) evidencing this individual’s authority to act on behalf of the member/applicant, which may include:
Power of Attorney
Letters of Conservatorship
Letters of Guardianship
Court Order
If providing one of the above documents, confirm that it expressly grants the person signing the authority to establish the trust on behalf of the applicant/member. Under the laws of Colorado, the power to create an income trust is not included in the general statutory powers given to agents, conservators, guardians, or other fiduciaries. Further, for Letters, the general form language for these court filings expressly excludes the power to create a trust by stating that their authority is “subject to the exclusions in § 15-14-411, C.R.S,” so please ensure that there is additional language on the filing expressly granting the power to create a trust.
