LegalFix
Sign In

Section 62-7-904F. Administration of a total return unitrust.

SC Code § 62-7-904F (2019) (N/A)
Copy with citation
Copy as parenthetical citation

In administering a total return unitrust, the trustee may, in its sole discretion but subject to the terms of the trust, determine:

(1) the effective date of the conversion;

(2) the timing of distributions, including provisions for prorating a distribution for a short year in which a beneficiary's right to payments commences or ceases;

(3) whether distributions are to be made in cash or in kind or partly in cash and partly in kind;

(4) if the trust is reconverted to an income trust, the effective date of the reconversion; and

(5) any other administrative issues as may be necessary or appropriate to carry out the purposes of Sections 62-7-904B through 62-7-904P.

HISTORY: 2013 Act No. 100, Section 2, eff January 1, 2014.

Previous Section
Section 62-7-904E. Fair market value of trust assets.
Next Section
Section 62-7-904G. Distribution of unitrust amount considered distribution of income and not of principal.