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Of Colorado, Hereinafter Referred to as the Trustor and the Trustee Designated below Form

Of Colorado, Hereinafter Referred to as the Trustor and the Trustee Designated below Form

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Trust instruments frequently contain detailed provisions governing the distribution of trust assets. But what if, because of a mistake, those terms fail to accurately reflect the settlor, or trust creator’s, intent? In Agnes M. Gassmann Revocable Living Trust versus Reichert, we explore judicial reformation as a means of correcting such mistakes. Husband and wife John A. and Agnes Gassmann executed identical trusts, which we’ll refer to as the parent trusts. The parent trusts, in turn, created four trusts, one for each of the couple’s children, John T., Mary, Jo Anne, and James. Under the parent trusts’ terms, when John A. and Agnes died, the trust assets remaining after specific distributions were to be divided equally between the children’s trusts. Before their deaths, John A. and Agnes created a partnership, the John Thomas Gassmann LLLP, to which they deeded certain farmland. Each parent trust held a 49.5% partnership interest, and John T., the partnership’s namesake an

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