164.799 - Trustee or beneficiary authorized to petition court to take certain actions concerning unitrust. - Nevada Statutes

164.799  Trustee or beneficiary authorized to petition court to take certain actions concerning unitrust.  A trustee or a beneficiary of a unitrust may petition the court to:

      1.  Select an income distribution percentage different from 3 to 5 percent.

      2.  Provide for a distribution of net income as would be determined if the trust were not a unitrust, in excess of the unitrust distribution if such distribution is necessary to preserve a tax benefit.

      3.  Average the value of the trust assets over a period other than 3 years.

      4.  Reconvert a unitrust to a trust.

      (Added to NRS by 2009, 798)