§ 28A-22-6. Agreements with taxing authorities to secure benefit of federal marital deduction. - North Carolina Statutes

§28A‑22‑6.  Agreements with taxing authorities to secure benefit offederal marital deduction.

The executor, trustee, orother fiduciary having discretionary powers under a will or trust indenturewith respect to the selection of assets to be distributed in satisfaction of abequest or transfer in trust to or for the benefit of the surviving spouse of adecedent shall be authorized to enter into agreements with the Commissioner ofInternal Revenue of the United States of America, and other taxing authorities,requiring the fiduciary to exercise the fiduciary's discretion so that cash andother properties distributed in satisfaction of such bequest or transfer intrust will be fairly representative of the net appreciation or depreciation invalue on the date, or dates, of distribution of all property then available fordistribution in satisfaction of such bequest or transfer in trust. Any suchfiduciary shall be authorized to enter into any other agreement not in conflictwith the express terms of the will or trust indenture that may be necessary oradvisable in order to secure for federal estate tax purposes the appropriatemarital deduction available under the Internal Revenue Laws of the UnitedStates of America and to do and perform all acts incident to such purpose. (1965,c. 744; 1973, c. 1329, s. 3.)