§ 61-504. Transfers from income to reimburse principal.
§ 61-504. Transfers from income to reimburse principal. (a) If a trustee makes or expects to make a principal disbursement described in this section, the trustee may transfer an appropriate amount from income to principal in 1 or more accounting periods to reimburse principal or to provide a reserve for future principal disbursements. (b) Principal […]
§ 61-505. Income taxes.
§ 61-505. Income taxes. (a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income. (b) A tax required to be paid by a trustee based on receipts allocated to principal must be paid from principal, even if the tax is called an income tax […]
§ 61-506. Adjustments between principal and income because of taxes.
§ 61-506. Adjustments between principal and income because of taxes. (a) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from: (1) Elections and decisions, other than those described in subsection (b) of this section, that the […]
§ 61-503. Transfers from income to principal for depreciation.
§ 61-503. Transfers from income to principal for depreciation. (a) In this section, “depreciation” means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a fixed asset having a useful life of more than 1 year. (b) A trustee may transfer to principal a reasonable amount of the net cash […]
§ 61-501. Disbursements from income.
§ 61-501. Disbursements from income. A trustee shall make the following disbursements from income to the extent that they are not disbursements to which § 61-201(2)(B) or (C) of this title applies: (1) One-half of the regular compensation of the trustee and of any person providing investment advisory or custodial services to the trustee; (2) […]
§ 61-502. Disbursements from principal.
§ 61-502. Disbursements from principal. (a) A trustee shall make the following disbursements from principal: (1) The remaining 1/2 of the disbursements described in § 61-501(1) and (2) of this title; (2) All of the trustee’s compensation calculated on principal as a fee for acceptance, distribution, or termination, and disbursements made to prepare property for […]