58a-506. Mandatory distribution. - Kansas Statutes

58a-506

Chapter 58a.--KANSAS UNIFORM TRUST CODE Article 5.--CREDITOR'S CLAIMS; SPENDTHRIFT AND DISCRETIONARY TRUSTS

      58a-506.   Mandatory distribution.(a) As used in this section, "mandatory distribution" means a distributionof income or principal which the trustee is required to make to a beneficiaryunder the terms of the trust, including a distribution upon termination of thetrust. The term excludes a distribution subject to the exercise of thetrustee's discretion whether or not the terms of the trust: (1) Include asupport or other standard to guide the trustee in making distributiondecisions; or (2) provide that the trustee "may" or "shall" make discretionarydistributions, including distributions pursuant to a support or other standard.

      (b)   Whether or not a trustcontains aspendthriftprovision, a creditor or assignee of a beneficiary may reach a mandatorydistribution of income orprincipal, including a distribution upon termination of the trust, if thetrustee has not made the distribution to the beneficiary within a reasonabletime after the mandated distribution date.

      History:   L. 2002, ch. 133, § 43;L. 2006, ch. 23, § 9; July 1.