C.R.S. § 15-16-811

(1) Unless the terms of a trust provide otherwise: (a) A trustee does not have a duty to: (I) Monitor a trust director; or (II) Inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and (b) By taking an action described in subsection (1)(a) of this section, a trustee does not assume a duty excluded by subsection (1)(a) of this section. (2) Unless the terms of a trust provide otherwise: (a) A trust director does not have a duty to: (I) Monitor a trustee or another trust director; or (II) Inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and (b) By taking an action described in subsection (2)(a) of this section, a trust director does not assume the duty excluded by subsection (2)(a) of this section. (3) Unless the terms of a trust provide otherwise, section 15-5-1012 does not apply to a trust director.