North Dakota Code 59-16.1-11 – Subsequently discovered assets
Current as of: 2023 | Check for updates
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Unless the authorized trustee provides otherwise:
Terms Used In North Dakota Code 59-16.1-11
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Trustee: A person or institution holding and administering property in trust.
1. The appointment of all the assets comprising the principal of the invaded trust to an appointed trust must include subsequently discovered assets of the invaded trust and undistributed principal of the invaded trust acquired after the appointment to the appointed trust; and
2. The appointment of part but not all of the assets comprising the principal of the invaded trust to an appointed trust may not include subsequently discovered assets belonging to the invaded trust and principal paid to or acquired by the invaded trust after the appointment to the appointed trust. These assets must remain the assets of the invaded trust.