Prorating Unitrust Amount in Short Year

  1. Law
  2. Indiana Code
  3. Trusts and Fiduciaries
  4. General Provisions
  5. Total Return Unitrusts
  6. Prorating Unitrust Amount in Short Year

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Sec. 22. (a) As used in this section, "short year" refers to a part of a calendar year that:

(1) begins when the interest of the current beneficiary or class of current beneficiaries begins; or

(2) ends when the interest of the current beneficiary or class of beneficiaries ends.

(b) The trustee shall prorate the unitrust amount on a daily basis in a short year.

As added by P.L.3-2003, SEC.2.


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