Under Colorado law, a trustee is a fiduciary and held to a very high standard of care. Trustees are legally responsible for managing, preserving, and administering assets for the benefit of the named beneficiaries. Trustees are granted broad powers over assets held in trust. A trustee’s powers come from trust documents, as well as state and federal trust law. A trustee is accountable to the beneficiaries and is expected to act prudently and in the best interest of the beneficiaries at all times.