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.200 – Receipts from entities—Character.
RCW 11.104B.200 Receipts from entities—Character. (1) The definitions in this subsection apply throughout this section unless the context clearly requires otherwise. (a) “Capital distribution” means an entity distribution of money that is a: (i) Return of capital; or (ii) Distribution in total or partial liquidation of the entity. (b) “Entity”: (i) Means a corporation, partnership, […]
11.104B.210 – Receipts from entities—Distributions from trusts and estates.
RCW 11.104B.210 Receipts from entities—Distributions from trusts and estates. A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 of this chapter, from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust […]
11.104B.220 – Receipts from entities—Businesses and other activities conducted by fiduciary.
RCW 11.104B.220 Receipts from entities—Businesses and other activities conducted by fiduciary. (1) This section applies to a business or other activity conducted by a fiduciary if the fiduciary determines that it is in the interests of the beneficiaries to account separately for the business or other activity instead of: (a) Accounting for the business or […]
11.104B.230 – Receipts not normally apportioned—Principal receipts.
RCW 11.104B.230 Receipts not normally apportioned—Principal receipts. A fiduciary shall allocate to principal: (1) To the extent not allocated to income under this chapter, an asset received from: (a) An individual during the individual’s lifetime; (b) An estate; (c) A trust on termination of an income interest; or (d) A payor under a contract naming […]
11.104B.050 – Fiduciary duties—General principles.
RCW 11.104B.050 Fiduciary duties—General principles. (1) In making an allocation or determination or exercising discretion under this chapter, a fiduciary shall: (a) Act in good faith, based on what is fair and reasonable to all beneficiaries; (b) Administer a trust or estate impartially, except to the extent the terms of the trust manifest an intent […]
11.104B.060 – Fiduciary duties—Judicial review of exercise of discretionary power—Request for instruction.
RCW 11.104B.060 Fiduciary duties—Judicial review of exercise of discretionary power—Request for instruction. (1) In this section, “fiduciary decision” means: (a) A fiduciary’s allocation between income and principal or other determination regarding income and principal required or authorized by the terms of the trust or this chapter; (b) The fiduciary’s exercise or nonexercise of a discretionary […]