§ 37A-1-104.22. Determination of unitrust amount. - North Carolina Statutes

§ 37A‑1‑104.22. Determination of unitrust amount.

(a)        The unitrust amountto be distributed by the express total return unitrust may be determined in thegoverning instrument by reference to the net fair market value of the trust'sassets determined annually or averaged on a multiple year basis.

(b)        The terms of thegoverning instrument of an express total return unitrust may provide that:

(1)        Assets for which afair market value cannot be readily ascertained shall be valued using valuationmethods that the trustee considers reasonable and appropriate.

(2)        Assets, such as aresidence property or tangible personal property, used by the trust beneficiaryentitled to the unitrust amount may be excluded from the net fair market valuefor computing the unitrust amount. (2005‑244, s. 6.)