CO HB1353

Adds Article 2.5 to Title 15 of Colorado Revised Statutes, establishing the "Colorado Uniform Powers of Appointment Act" to codify and standardize rules governing powers of appointment in wills, trusts, and other instruments.

Establishes comprehensive definitions and procedures for creating, exercising, releasing, and disclaiming powers of appointment, including rules for general versus nongeneral powers and permissible versus impermissible appointees.

Provides that creation and amendment of powers are governed by the donor's domicile law, while exercise and release are governed by the powerholder's domicile law, unless the instrument manifests contrary intent.

Sets rules for disposition of appointed and unappointed property, including capture doctrine provisions for ineffectively appointed general powers and provisions for unappointed property under nongeneral powers.

Repeals prior Colorado law on powers of appointment (Article 2 of Title 15, sections 15-11-608 and 15-11-704) and becomes effective July 1, 2015, subject to voter approval if a referendum petition is filed within 90 days of adjournment.