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Current as of January 01, 2024 | Updated by Findlaw Staff
In administering a total return unitrust, the trustee may, in the trustee's sole discretion but subject to the provisions of the governing instrument, determine all of the following:
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 such reconversion.
5. Such other administrative issues as may be necessary or appropriate to carry out the purposes of this subchapter.
Cite this article: FindLaw.com - Iowa Code Title XV. Judicial Branch and Judicial Procedures [Chs. 595-686] § 637.611. Total return unitrust administration - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xv-judicial-branch-and-judicial-procedures-chs-595-686/ia-code-sect-637-611/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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