The trustee may, in the trustee's discretion, from time to time, determine (1) the effective date of a conversion to a unitrust; (2) the provisions for prorating a unitrust distribution for a short year in which a beneficiary's right to payments commences or ceases; (3) the frequency of unitrust distributions during the year; (4) the effect of other payments from or contributions to the trust on the trust's valuation; (5) whether to value the trust's assets annually or more frequently; (6) whether to use a smoothing period of three, four, or five years; (7) what valuation dates to use; (8) how frequently to value nonliquid assets and whether to estimate their value; (9) whether to omit trust property occupied or possessed by a beneficiary from the calculations; and (10) other matters necessary for the proper functioning of the unitrust.
Alaska Legal Code