15-1-109. SATISFACTION OF PECUNIARY DEVISES OR TRANSFERS BY DISTRIBUTION IN KIND. (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.
[(2)](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.
History:
[15-1-109, added 1999, ch. 306, sec. 1, p. 763.]
Structure Idaho Code
Title 15 - UNIFORM PROBATE CODE
Chapter 1 - GENERAL PROVISIONS, DEFINITIONS AND PROBATE JURISDICTION OF COURT
Part 1 - SHORT TITLE, CONSTRUCTION, GENERAL PROVISIONS
Section 15-1-101 - SHORT TITLE.
Section 15-1-102 - PURPOSES — RULE OF CONSTRUCTION.
Section 15-1-103 - SUPPLEMENTARY GENERAL PRINCIPLES OF LAW APPLICABLE.
Section 15-1-104 - SEVERABILITY.
Section 15-1-105 - CONSTRUCTION AGAINST IMPLIED REPEAL.
Section 15-1-106 - EFFECT OF FRAUD AND EVASION.
Section 15-1-107 - EVIDENCE AS TO DEATH OR STATUS.
Section 15-1-108 - ACTS BY HOLDER OF GENERAL POWER.
Section 15-1-109 - SATISFACTION OF PECUNIARY DEVISES OR TRANSFERS BY DISTRIBUTION IN KIND.