Administration of total return unitrust--Authority of trustee

In administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine: (1) The effective date of the conversion; (2) The timing of distributions during the year, if any, including provisions for prorating distributions for a short year when the effective date of a conversion takes place during the year; (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; and (5) Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter. Source: SL 2002, ch 225 , § 9; SL 2023, ch 161 , § 14.