§ 11.100.025. Spousal or domestic partnership deduction interests
Notwithstanding RCW 11.98.070(21)(a), 11.100.060, or any other statutory provisions to the contrary, with respect to trusts which require by their own terms or by operation of law that all income be paid at least annually to the spouse or domestic partner of the trust's creator, which do not provide that on the termination of the income interest that the entire then remaining trust estate be paid to the estate of the spouse or domestic partner of the trust's creator, and for which a federal estate or gift tax marital deduction is claimed, any investment in or retention of unproductive property is subject to a power in the spouse or domestic partner of the trust's creator to require either that any such asset be made productive, or that it be converted to productive assets within a reasonable period of time unless the instrument creating the interest provides otherwise.
[2008 c 6 § 929; 1985 c 30 § 67. Prior: 1984 c 149 § 99.]
Notes:
Part headings not law -- Severability -- 2008 c 6: See RCW 26.60.900 and 26.60.901.
Short title -- Application -- Purpose -- Severability -- 1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability -- Effective dates -- 1984 c 149: See notes following RCW 11.02.005.
Securities in default ineligible for investment: RCW 30.24.080. Sections: Previous 11.100.010 11.100.015 11.100.020 11.100.023 11.100.025 11.100.030 11.100.035 11.100.037 11.100.040 11.100.045 11.100.047 11.100.050 11.100.060 11.100.070 11.100.090 Next
Last modified: April 7, 2009