Appendix V. New York State Optional Unitrust

• Author: Seymour Goldberg
• Profession: Senior partner in the law firm of Goldberg & Goldberg, PC in Woodbury, New York
• Pages: 159-167

APPENDIX V

NEW YORK STATE

OPTIONAL UNITRUST

PROVISION

*§ 11–2.4 OPTIONAL

UNITRUST PROVISION

159

Technical corrections to the law may be made from time to time to clarify

the law or to make changes to the law. Caution: You must periodically

review the law to make sure that no changes were made.

(a) Unless the terms of the trust provide otherwise, the net income of

any trust to which this section applies shall mean the unitrust amount

as determined hereunder.

(b) *Unitrust amount.

(1)

For the rst year of the trust as a unitrust, including a short

year if applicable, the “unitrust amount” for the year shall mean

an amount equal to four percent of the net fair market values

of the assets held in the trust at the beginning of the rst busi-

ness day of the current valuation year.

(2)

For the second year of a trust as a unitrust, including a rst

short year if applicable, the “unitrust amount” for the year shall

mean an amount equal to four percent multiplied by a frac-

tion, the numerator of which shall be the sum of (A) the net

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