A. A distribution interest in a trust shall be classified as a mandatory interest, a support interest or a discretionary interest.
B. A beneficiary may concurrently hold a mandatory interest, support interest or discretionary interest. To the extent a trust contains a combination of a discretionary interest, a support interest or a mandatory interest, the trust shall be a mandatory interest only to the extent of the mandatory language and a support interest only to the extent of the support language. The remaining trust property shall be held as a discretionary interest.
Added by Laws 2010, c. 280, § 6, eff. Nov. 1, 2010.