RCW 11.104B.180

199 words·~1 min read·/wa/title-11/chapter-11-104b/11-104b-180·

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

(1)A unitrust policy may:

(a)Provide methods and standards for:

(i)Determining the timing of distributions;

(ii)Making distributions in cash or in-kind or partly in cash and partly in-kind; or

(iii)Correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount;

(b)Specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or

(c)Provide other standards and rules the fiduciary determines serve the interests of the beneficiaries.

(2)If a trust qualifies for a special tax benefit or a fiduciary is not an independent person:

(a)The unitrust rate established under RCW 11.104B.150 may not be less than three percent or more than five percent;

(b)The only provisions of RCW 11.104B.160 that apply are RCW 11.104B.160

(1)and (2)(a), (d), (e)(i), and (i);

(c)The only period that may be used under RCW 11.104B.170 is a calendar year under RCW 11.104B.170 (1)(a); and

(d)The only other provisions of RCW 11.104B.170 that apply are RCW 11.104B.170

(2)(b)(i) and (c).

[ 2021 c 140 s 2309 .]