A conversion to a unitrust does not affect a provision in the governing instrument directing or authorizing the trustee to distribute principal or authorizing a beneficiary to withdraw a portion or all of the principal.
Structure Alaska Statutes
Title 13. Decedents' Estates, Guardianships, Transfers, Trusts, and Health Care Decisions
Chapter 38. Alaska Principal and Income Act
Sec. 13.38.300. Power to convert to unitrust.
Sec. 13.38.310. Judicially approved conversion; beneficiary request for conversion.
Sec. 13.38.320. Factors to be considered.
Sec. 13.38.330. Directions after conversion.
Sec. 13.38.340. Trustee's discretionary powers regarding unitrust.
Sec. 13.38.350. Unitrust deductions and distributions.
Sec. 13.38.360. Court orders regarding unitrust.
Sec. 13.38.370. Effects of conversion.
Sec. 13.38.380. Prohibited conversions; exception.
Sec. 13.38.390. Permissible conversion where otherwise prohibited.
Sec. 13.38.400. Reconversion from a unitrust.
Sec. 13.38.410. Release of power to convert to unitrust.
Sec. 13.38.420. Express total return unitrusts.
Sec. 13.38.430. Power to treat gains as part of distribution of principal.