Source: http://delcode.delaware.gov/title12/c061/sc01/index.shtml
Timestamp: 2016-08-27 06:27:44
Document Index: 743650265

Matched Legal Cases: ['§ 61', '§ 61', '§ 61', '§ 61', '§ 61', '§ 61', '§ 61', '§ 1', '§ 61', '§ 1', '§ 19', '§ 61', '§ 1', '§ 20', '§ 61', '§ 1', '§ 21', '§ 61', '§ 1', '§ 61', '§ 1', '§ 1', '§ 1', '§ 17', '§ 8', '§ 10', '§ 61', '§ 1222', '§ 1222', '§ 1222', '§ 1222', '§ 1222', '§ 1222', '§ 13', '§ 12', '§ 10']

Authenticated PDF § 61-101 § 61-102 § 61-103 § 61-104 § 61-105 § 61-106 § 61-107 TITLE 12
77 Del. Laws, c. 99, § 1.; § 61-102 Definitions.
77 Del. Laws, c. 99, § 1; 77 Del. Laws, c. 330, § 19.; § 61-103 Fiduciary duties; general principles.
77 Del. Laws, c. 99, § 1; 77 Del. Laws, c. 330, § 20.; § 61-104 Trustee's power to adjust.
77 Del. Laws, c. 99, § 1; 77 Del. Laws, c. 330, § 21.; § 61-105 Judicial control of discretionary power.
77 Del. Laws, c. 99, § 1.; § 61-106 Total return unitrusts.
(l) This section shall be construed as pertaining to the administration of a trust and shall be available to any trust including a trust initially converted to a total return unitrust under the laws of another jurisdiction that is administered in Delaware under Delaware law or to any trust, regardless of its place of administration, whose governing instrument provides that Delaware law governs matters of construction or administration unless:
73 Del. Laws, c. 48, § 1; 70 Del. Laws, c. 186, § 1; 74 Del. Laws, c. 270, §§ 1-12; 75 Del. Laws, c. 97, § 17; 77 Del. Laws, c. 98, §§ 8-11; 77 Del. Laws, c. 330, § 10.; § 61-107 Express total return unitrusts.
(h) Unless the terms of the trust specifically provide otherwise, a distribution of the unitrust amount from an express total return unitrust shall be considered to have been made from the following sources in order of priority:
(1) From net accounting income determined as if the trust were not a unitrust;
(2) From ordinary income not allocable to net accounting income;
(3) After calculating the trust's capital gain net income as described in Internal Revenue Code ("I.R.C.'') § 1222(9) [26 U.S.C. § 1222(9)], from net realized short-term capital gain as described in I.R.C. § 1222(5) [26 U.S.C. § 1222(5)] and then from net realized long-term capital gain described in I.R.C. § 1222(7) [26 U.S.C. § 1222(7)]; and
(4) From the principal of the trust.
74 Del. Laws, c. 270, § 13; 77 Del. Laws, c. 98, § 12; 77 Del. Laws, c. 330, § 10.; Site Footer