Sec. 13.38.340. Trustee's discretionary powers regarding unitrust.

146 words·~1 min read·/ak/title-13/chapter-38/13-38-340

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The trustee may, in the trustee's discretion, from time to time, determine

(1)the effective date of a conversion to a unitrust;

(2)the provisions for prorating a unitrust distribution for a short year in which a beneficiary's right to payments commences or ceases;

(3)the frequency of unitrust distributions during the year;

(4)the effect of other payments from or contributions to the trust on the trust's valuation;

(5)whether to value the trust's assets annually or more frequently;

(6)whether to use a smoothing period of three, four, or five years;

(7)what valuation dates to use;

(8)how frequently to value nonliquid assets and whether to estimate their value;

(9)whether to omit trust property occupied or possessed by a beneficiary from the calculations; and

(10)other matters necessary for the proper functioning of the unitrust.