(1) A unitrust policy may: (a) Provide methods and standards for: (i) Determining the timing of distributions; (ii) Making distributions in cash or in-kind or partly in cash and partly in-kind; or (iii) Correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount; (b) Specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or (c) Provide other standards and rules the fiduciary determines serve the interests of the beneficiaries. (2) If a trust qualifies for a special tax benefit or a fiduciary is not an independent person: (a) The unitrust rate established under RCW 11.104B.150 may not be less than three percent or more than five percent; (b) The only provisions of RCW 11.104B.160 that apply are RCW 11.104B.160 (1) and (2)(a), (d), (e)(i), and (i); (c) The only period that may be used under RCW 11.104B.170 is a calendar year under RCW 11.104B.170(1)(a); and (d) The only other provisions of RCW 11.104B.170 that apply are RCW 11.104B.170(2) (b)(i) and (c).
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