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.
N.C. Gen. Stat. § 28A-22-8
Executor or trustee; discretion over distributions
Applied in 1 court decision — leading case 149 N.C. App. 647 - In Re the Will of Lamanski (2002)
Most recently applied in 149 N.C. App. 647 - In Re the Will of Lamanski (April 2002)
1977, c. 740.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.