Trustee or beneficiary authorized to petition court to take certain actions concerning unitrust.

NRS 164.799 Trustee or beneficiary authorized to petition court to take certain actions concerning unitrust. A trustee or a beneficiary of a unitrust may petition the court to: 1. Select an income distribution percentage different from 3 to 5 percent. 2. Provide for a distribution of net income as would be determined if the trust were not a unitrust, in excess of the unitrust distribution if such distribution is necessary to preserve a tax benefit. 3. Average the value of the trust assets over a period other than 3 years. 4. Reconvert a unitrust to a trust. (Added to NRS by 2009, 798)