Delaware Code Title 12 Sec. 3593 – Interest on pecuniary gifts in trust
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Except where circumstances justify a longer period, pecuniary gifts from an inter vivos trust which are payable as of the death of the trustor or another person, shall bear interest at the rate of 4 percent per annum payable from the trust beginning 13 months after such death, or, if there is a change of trustee as a result of such death, 13 months after the trustee first takes office as trustee following such death, until payment, unless a contrary intent is indicated by the governing instrument.
Terms Used In Delaware Code Title 12 Sec. 3593
- Inter vivos: Transfer of property from one living person to another living person.
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.