Idaho § 15-1-109 SATISFACTION OF PECUNIARY DEVISES OR TRANSFERS BY DISTRIBUTION IN KIND

Idaho Statutes

§ 15-1-109 — SATISFACTION OF PECUNIARY DEVISES OR TRANSFERS BY DISTRIBUTION IN KIND

Idaho·Title 15 UNIFORM PROBATE CODE·Part 1. SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS·Ch. 1 GENERAL PROVISIONS, DEFINITIONS AND PROBATE JURISDICTION OF COURT

(1)Whenever a personal representative or a trustee satisfies a pecuniary devise or transfer in trust by a distribution in kind with assets at their value for federal estate tax purposes, such fiduciary, in order to implement such a devise or transfer in trust, must, unless the governing instrument provides otherwise, distribute assets, including cash, fairly representative of appreciation or depreciation in all of the property so available for distribution in satisfaction of such pecuniary devise or transfer.

(b)Subsection (1) of this section is not intended to imply that the present law of this state, relating to selection of assets by fiduciaries in the circumstances herein described, has been otherwise than as set forth herein, but is a statement of the fiduciary principles applicable

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(1) Whenever a personal representative or a trustee satisfies a pecuniary devise or transfer in trust by a distribution in kind with assets at their value for federal estate tax purposes, such fiduciary, in order to implement such a devise or transfer in trust, must, unless the governing instrument provides otherwise, distribute assets, including cash, fairly representative of appreciation or depreciation in all of the property so available for distribution in satisfaction of such pecuniary devise or transfer.
(b) Subsection (1) of this section is not intended to imply that the present law of this state, relating to selection of assets by fiduciaries in the circumstances herein described, has been otherwise than as set forth herein, but is a statement of the fiduciary principles applicable to such fiduciaries.

Idaho § 15-1-109 (SATISFACTION OF PECUNIARY DEVISES OR TRANSFERS BY DISTRIBUTION IN KIND) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.