Section 58 Judicial-Construction Orders
| Library | Trust and Estate Legislation 2012 |
The third safe harbor provides that a judicial construction to resolve an ambiguity in the trust instrument or to correct a scrivener’s error will not cause a GST exempt trust to lose its exemption if:
· the judicial action involves a bone fide issue; and
· the construction is consistent with applicable state law that would be applied by the highest court in the state.
Treas. Reg. § 26.2601-1(b)(4)(i)(B) and (C).
Upon passage of the Missouri Uniform Trust Code, §§ 456.1-101–456.11-1106, RSMo Supp. 2011...
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