Alaska Statutes Title 13, Chapter 13.38, Article 02 - Unitrusts

• Sec. 13.38.300 Power to Convert to Unitrust.
  Unless expressly prohibited by the governing instrument, a trustee may release the power to adjust under AS 13.38.210 and may convert a trust into...
• Sec. 13.38.310 Judicially Approved Conversion; Beneficiary Request for Conversion.
  (a) A trustee may petition the court to approve the conversion to a unitrust if(1) a beneficiary timely objects to the conversion to a...
• Sec. 13.38.320 Factors to Be Considered.
  In deciding whether to exercise the power conferred by AS 13.38.300, a trustee may consider, among other things,(1) the size of the trust;(2) the...
• Sec. 13.38.330 Directions After Conversion.
  (a) After a trust is converted to a unitrust, the trustee shall(1) follow an investment policy seeking a total return for the investments held...
• Sec. 13.38.340 Trustee's Discretionary Powers Regarding Unitrust.
  The trustee may, in the trustee's discretion, from time to time, determine(1) the effective date of a conversion to a unitrust;(2) the provisions for...
• Sec. 13.38.350 Unitrust Deductions and Distributions.
  (a) Expenses that would be deducted from income if the trust were not a unitrust may not be deducted from the unitrust distribution.(b) Unless...
• Sec. 13.38.360 Court Orders Regarding Unitrust.
  The trustee or, if the trustee declines to petition the court, a beneficiary may petition the court to provide for a distribution of net...
• Sec. 13.38.370 Effects of Conversion.
  A conversion to a unitrust does not affect a provision in the governing instrument directing or authorizing the trustee to distribute principal or authorizing...
• Sec. 13.38.380 Prohibited Conversions; Exception.
  (a) A trustee may not convert a trust into a unitrust if(1) payment of the unitrust distribution would change the amount payable to a...
• Sec. 13.38.390 Permissible Conversion Where Otherwise Prohibited.
  (a) If AS 13.38.380 (a)(3), (4), or (6) applies to a trustee and there is more than one trustee, a co-trustee to whom the...
• Sec. 13.38.400 Reconversion From a Unitrust.
  A trustee may reconvert a trust that has been converted into a unitrust under AS 13.38.300 by following the same procedures provided in AS...
• Sec. 13.38.410 Release of Power to Convert to Unitrust.
  (a) A trustee may release the power conferred by AS 13.38.300 to convert to a unitrust if the trustee(1) is uncertain about whether possessing...
• Sec. 13.38.420 Express Total Return Unitrusts.
  (a) This section applies to a trust that, by its governing instrument, requires the distribution, at least annually, of a unitrust amount.(b) The trustee...
• Sec. 13.38.430 Power to Treat Gains As Part of Distribution of Principal.
  Unless prohibited by the unitrust's governing instrument or specifically addressed by AS 13.38.350 or 13.38.420, the trustee of a unitrust may treat gains from...
• Sec. 13.38.435 Definitions.
  In AS 13.38.300 - 13.38.435,(1) "smoothing period" means the period of years over which the fair market value of the assets of a unitrust...

Last modified: November 15, 2016