§60-175.86. Distribution interest - Mandatory, support, and
106 words·~1 min read·
/ok/title-60-property/60-175-86A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
discretionary interests.
A. A distribution interest in a trust shall be classified as a mandatory interest, a support interest or a discretionary interest.
B. A beneficiary may concurrently hold a mandatory interest, support interest or discretionary interest. To the extent a trust contains a combination of a discretionary interest, a support interest or a mandatory interest, the trust shall be a mandatory interest only to the extent of the mandatory language and a support interest only to the extent of the support language. The remaining trust property shall be held as a discretionary interest. Added by Laws 2010, c. 280, § 6, eff. Nov. 1, 2010.