11.104B.150 – Unitrusts—Unitrust rates.
RCW 11.104B.150 Unitrusts—Unitrust rates. (1) Except as otherwise provided in RCW 11.104B.180(2)(a), a unitrust rate may be: (a) A fixed unitrust rate; or (b) A unitrust rate that is determined for each period using: (i) A market index or other published data; or (ii) A mathematical blend of market indices or other published data over […]
11.104B.160 – Unitrusts—Applicable value.
RCW 11.104B.160 Unitrusts—Applicable value. (1) A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including: (a) The frequency of valuing the asset, which need not require a valuation in every period; and (b) The date for valuing the asset in […]
11.104B.170 – Unitrusts—Period.
RCW 11.104B.170 Unitrusts—Period. (1) A unitrust policy must provide the period used under RCW 11.104B.150 and 11.104B.160. Except as otherwise provided in RCW 11.104B.180(2)(c), the period may be: (a) A calendar year; (b) A 12-month period other than a calendar year; (c) A calendar quarter; (d) A three-month period other than a calendar quarter; or […]
11.104B.180 – Unitrust—Special tax benefits—Other rules.
RCW 11.104B.180 Unitrust—Special tax benefits—Other rules. (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 […]
11.104B.100 – Unitrusts—Definitions.
RCW 11.104B.100 Unitrusts—Definitions. The definitions in this section apply throughout this article unless the context clearly requires otherwise. (1) “Applicable value” means the amount of the net fair market value of a trust taken into account under RCW 11.104B.160. (2) “Express unitrust” means a trust for which, under the terms of the trust without regard […]
11.104B.110 – Unitrusts—Application—Duties and remedies.
RCW 11.104B.110 Unitrusts—Application—Duties and remedies. (1) Except as otherwise provided in subsection (2) of this section, this article applies to: (a) An income trust, unless the terms of the trust expressly prohibit use of this article by a specific reference to this article or an explicit expression of intent that net income not be calculated […]
11.104B.120 – Unitrusts—Authority of fiduciary.
RCW 11.104B.120 Unitrusts—Authority of fiduciary. (1) A fiduciary, without court approval, by complying with subsections (2) and (6) of this section, may: (a) Convert an income trust to a unitrust if the fiduciary adopts in a record a unitrust policy for the trust providing: (i) That in administering the trust the net income of the […]
11.104B.130 – Unitrusts—Notice.
RCW 11.104B.130 Unitrusts—Notice. (1) A notice required by RCW 11.104B.120(2)(b) must be sent to: (a) All beneficiaries that receive or are entitled to receive income from the trust or would be entitled to receive a distribution of principal if the trust were terminated at the time the notice is sent, assuming no power of appointment […]
11.104B.140 – Unitrusts—Unitrust policies.
RCW 11.104B.140 Unitrusts—Unitrust policies. (1) In administering a unitrust under this article, a fiduciary shall follow a unitrust policy adopted under RCW 11.104B.120(1) (a) or (b) or amended or replaced under RCW 11.104B.120(1)(b). (2) A unitrust policy must provide: (a) The unitrust rate or the method for determining the unitrust rate under RCW 11.104B.150; (b) […]