ARTICLE 5. Allocation of Disbursements [16360. - 16367.]

Article 5 added by Stats. 2023, Ch. 28, Sec. 2.

§§ 16360–16367 · 8 sections

• § 16360 Subject to Section 16363, and except as otherwise provided in paragraph (2) or (3) of subdivision (c) of Section 16370, a fiduciary shall disburse from income…
• § 16361 (a) Subject to Section 16364, and except as otherwise provided in paragraph (2) of subdivision (c) of Section 16370, a fiduciary shall disburse from principal…
• § 16362 (a) For purposes of this section, “depreciation” means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset…
• § 16363 (a) If a fiduciary makes or expects to make an income disbursement described in subdivision (b), the fiduciary may transfer an appropriate amount from…
• § 16364 (a) If a fiduciary makes or expects to make a principal disbursement described in subdivision (b), the fiduciary may transfer an appropriate amount from income…
• § 16365 (a) A tax required to be paid by a fiduciary that is based on receipts allocated to income shall be paid from income. (b) A tax required to be paid by a…
• § 16366 (a) A fiduciary may make an adjustment between income and principal to offset the shifting of economic interests or tax benefits between current income…
• § 16367 Unless otherwise provided by the governing instrument, determined by the trustee, or ordered by the court, distributions to beneficiaries shall be considered…