(8) The District Court Administrator pre-charges filing fees in accordance with ORS 21.135 (standard filing tax) for the submission of an agreement or agreement under Article 6 of this section and for the submission of submissions in paragraph 7 of this section. [2005 c.348 No 11; 2009 v.275 No 6; 2011 c.595 30; 2013 v.529 No 2; 2019 ca.162 no 4] In 2018, the Colorado Legislature adopted the version of the Uniform Trust Code (UTC), the Colorado Trust Uniform Code (CUTC), with a date valid for January 2, 2019. A previous colorado Lawyer article dealt with a number of ways to modify irrevocable trusts, including the use of methods described in the CUTC. This article explores one of CUTC`s most exciting areas, IRS provision 15-5-111 for an out-of-court settlement agreement (NJSA), which states that «any person may enter into a binding out-of-court settlement agreement on any trust matter, that the transaction agreement be supported by consideration,» unless an NJSA is contrary to a core purpose of the trust or contains conditions that could not be properly authorized by a court. 3. (a) Unless sub-section 4 of this section is provided otherwise, interested parties may enter into an out-of-court transaction agreement for any matters relating to a trust. (b) after collecting the fee in subsection 8 of this section, the agent enters the agreement or reference statement into the court registry. 7. (a) If, within sixty days of the submission of a transaction contract or memorandum under this section, objections are raised with the Tribunal, the court administrator collects the tax provided for in point (8) of this section. After the grievances are filed, the Tribunal determines the time and place of a hearing.
The person presenting the grievances must provide a copy of the grievances to all beneficiaries who are parties to the agreement and to all beneficiaries who have received notification in accordance with paragraph 6, point c), this section and to communicate to individuals the date and place set by the Tribunal for a hearing. The service must take place at least 10 days before the date set by the court for oral proceedings. The meaning of the objections can be made in person or by written or authenticated mail, request for return. (A) the agreement does not reflect the signatures of all the persons required in this section; (C) Approval of the agreement would not be fair to beneficiaries who are not interested and who are not parties to the agreement. Click here to read the full article: Out-of-court settlement agreements under the CUTC: what are the limits? This article explains how out-of-court settlement agreements are used in fair administration, estate planning and related litigation. (e) In the absence of objections to the court within sixty days of the filing of the agreement or memorandum, the agreement is effective and commits all beneficiaries who have received notification in accordance with paragraph c of this subsection as well as all beneficiaries who have waived termination in accordance with paragraph 7, paragraph e), of this section.