28A-22-8. Executor or trustee; discretion over distributions.
Unless otherwise restricted by the terms of the will or trust, an executor or trustee shall have absolute discretion to make distributions in cash or in specific property, real or personal, or an undivided interest therein or partly in cash or partly in such property, and to do so without regard to the income tax basis for federal tax purposes of specific property allocated to any beneficiary. (1977, c. 740.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 28A - Administration of Decedents' Estates
§ 28A-22-1 - Scheme of distribution; testate and intestate estates.
§ 28A-22-2 - Shares of after-born and after-adopted children.
§ 28A-22-3 - Special proceeding against unknown heirs of decedent before distribution of estate.
§ 28A-22-4 - Distribution to nonresident trustee only upon appointment of process agent.
§ 28A-22-5 - Distribution of assets in kind in satisfaction of devises and transfers in trust.
§ 28A-22-6 - Agreements with taxing authorities to secure benefit of federal marital deduction.
§ 28A-22-7 - Distribution to parent or guardian of a minor.
§ 28A-22-8 - Executor or trustee; discretion over distributions.
§ 28A-22-9 - Distribution to known but unlocated devisees or heirs.