C.R.S. § 15-5-401: Methods of creating trust.

(1) A trust may be created by:

(a) Transfer of property to another person as trustee during the settlor's lifetime or by will or other disposition taking effect upon the settlor's death;

(b) Declaration by the owner of property that the owner holds identifiable property as trustee;

(c) Exercise of a power of appointment in favor of a trustee; or

(d) A statute, judgment, or decree authorizing the creation of a trust.