Probate Code section 16330
(a)
“Applicable value” means the amount of the net fair market value of a trust taken into account under Section 16336.(b)
“Express unitrust” means a trust for which, under the terms of the trust without regard to this article, income or net income shall or may be calculated as a unitrust amount.(c)
“Income trust” means a trust that is not a unitrust.(d)
“Net fair market value of a trust” means the fair market value of the assets of the trust, less the noncontingent liabilities of the trust.(e)
“Unitrust” means a trust for which net income is a unitrust amount. The term includes an express unitrust.(f)
“Unitrust amount” means an amount computed by multiplying a determined value of a trust by a determined percentage. For a unitrust administered under a unitrust plan, the term means the applicable value, multiplied by the unitrust rate.(g)
“Unitrust plan” means a plan described in Section 16334 to 16338, inclusive, and adopted pursuant to Section 16332.(h)
“Unitrust rate” means the rate used to compute the unitrust amount under subdivision (f) for a unitrust administered under a unitrust plan.
Source:
Section 16330, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PROB§ionNum=16330. (accessed May 19, 2025).