Section 5816.13 | Discretionary interests not property of a beneficiary.
March 27, 2013
House Bill 479 - 129th General Assembly
No beneficiary or other person shall be considered to have a property interest in any property of a legacy trust to the extent that the distribution of that property is subject to the discretion of one or more qualified trustees or advisors, either acting alone or in conjunction with any other person, including any person authorized to veto any distributions from the legacy trust.
Available Versions of this Section
- March 27, 2013 – House Bill 479 - 129th General Assembly [ View March 27, 2013 Version ]