Spousal or domestic partnership deduction interests.
Notwithstanding RCW
11.98.070(21)(a),
11.100.060, or any other statutory provisions to the contrary, with respect to trusts which require by their own terms or by operation of law that all income be paid at least annually to the spouse or domestic partner of the trust's creator, which do not provide that on the termination of the income interest that the entire then remaining trust estate be paid to the estate of the spouse or domestic partner of the trust's creator, and for which a federal estate or gift tax marital deduction is claimed, any investment in or retention of unproductive property is subject to a power in the spouse or domestic partner of the trust's creator to require either that any such asset be made productive, or that it be converted to productive assets within a reasonable period of time unless the instrument creating the interest provides otherwise.
NOTES:
Short title—Application—Purpose—Severability—1985 c 30: See RCW
11.02.900 through
11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW
11.02.005.