PocketLaw | Pennsylvania Consolidated Statutes | Principal and Income

Principal and Income

Checkout our iOS App for a better way to browser and research.

Short title of chapter

Definitions

Fiduciary duties; general principles

Trustee's power to adjust

Power to convert to unitrust

Judicial control of discretionary powers

Express trusts

(Reserved)

(Reserved)

(Reserved)

(Reserved)

(Reserved)

Charitable trusts

Determination and distribution of net income

Distribution to residuary and remainder beneficiaries

When right to income begins and ends

Apportionment of receipts and disbursements when decedent dies or income interest begins

Apportionment when income interest ends

Character of receipts

Distribution from trust or estate

Business and other activities conducted by trustee

Principal receipts

Rental property

Obligation to pay money

Insurance policies and similar contracts

Insubstantial allocations not required

Retirement benefits, individual retirement accounts, deferred compensation, annuities and similar payments

Liquidating asset

Minerals, water and other natural resources

Timber

Property not productive of income

Derivatives and options

Asset-backed securities

Mandatory disbursements from income

Mandatory disbursements from principal

Discretionary allocation of disbursements

Transfers from income to principal for depreciation

Transfers from income to reimburse principal

Income taxes

Adjustments between principal and income because of taxes

Uniformity of application and construction

Chapter Notes