2-3-905. Unitrust election by beneficiary; ability to request trustee action.
(a) A beneficiary, who is receiving, or is entitled to receive, income under the trust or to receive a distribution of principal if the trust were terminated, may:
(i) Submit to the trustee a written request to convert an income trust to a total return unitrust;
(ii) Reconvert a total return unitrust to an income trust; or
(iii) Change the percentage used to calculate the unitrust amount pursuant to W.S. 2-3-904.
(b) If the trustee declines or fails to act within six (6) months of receipt of the written request, the beneficiary may petition the district court to order the conversion or adjustment.
Structure Wyoming Statutes
Title 2 - Wills, Decedents' Estates and Probate Code
Article 9 - Wyoming Unitrust Act
Section 2-3-901 - Short Title.
Section 2-3-902 - Definitions.
Section 2-3-903 - Unitrust Election by Trustee; Requirements to Make Unitrust Election.
Section 2-3-905 - Unitrust Election by Beneficiary; Ability to Request Trustee Action.
Section 2-3-906 - Settlor Created Unitrust.
Section 2-3-908 - Unitrust Percentages.
Section 2-3-909 - Treatment and Allocation of Income.
Section 2-3-910 - Administration.
Section 2-3-911 - Treatment of Underpayments or Overpayments.
Section 2-3-912 - Effect of Conversion on Governing Instrument.
Section 2-3-914 - Trustee's Liability.
Section 2-3-915 - Judicial Control of Discretionary Powers.