§ 11.95.160. Lapse of a power -- Intent not to exercise a power -- Treatment
A person shall not be treated as having made a disposition in trust for the use of that individual by reason of a lapse of a power of withdrawal over the income or corpus of a trust created by another person. For this purpose, notification to the trustee of the trust of an intent not to exercise the power of withdrawal shall not be treated as a release of the power of withdrawal, but shall be treated as a lapse of the power.
[2006 c 360 § 12.]
Notes:
Clarification of laws -- Enforceability of act -- Severability -- 2006 c 360: See notes following RCW 11.108.070.
Sections: Previous 11.95.010 11.95.020 11.95.030 11.95.040 11.95.060 11.95.070 11.95.100 11.95.110 11.95.120 11.95.130 11.95.140 11.95.150 11.95.160
Last modified: April 7, 2009