In Colorado, can a trustee use trust assets to defend a lawsuit against that same trustee, and what does that mean to the beneficiary?
In general, Colorado follows the traditional American Rule that, absent statutory authority, an express contractual provision, or a court rule, the parties in a lawsuit are required to bear their own legal expenses. See Bernhard v. Farmers Ins. Exch., 915 P.2d 1285 (Colo.1996).
This content is for members only. If you are a member, please log in. Visit our membership page if you would like to become a member.