Section 13.38.340. Trustee's discretionary powers regarding unitrust.

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.

Authorities

13.38.300;13.38.390

Notes

References

AS 13.38.300 Power to convert to unitrust.
AS 13.38.390 Permissible conversion where otherwise prohibited.

History

(Sec. 2 ch 145 SLA 2003; am Sec. 22 ch 45 SLA 2013)