738.308 Period.
141 words·~1 min read·
/fl/title-xlii/chapter-738/738-308·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)A unitrust policy must provide the period used under ss. 738.306 and 738.307 . The period must be the calendar year.
(2)A unitrust policy may provide standards for:
(a)Using fewer preceding periods under s. 738.306 (1)(b)1. or (2)(a) or
(b)if:
1. The trust was not in existence in a preceding period; or
2. Market indices or other published data are not available for a preceding period;
(b)Using fewer preceding periods under s. 738.307 (2)(e) if:
1. The trust was not in existence in a preceding period; or
2. Fair market values are not available for a preceding period; and
(c)Prorating a unitrust amount on a daily basis for a part of a period in which the trust or the administration of the trust as a unitrust or the interest of any beneficiary commences or terminates.