11.104B.420 – Disbursements—Transfer from income to principal for depreciation.
RCW 11.104B.420 Disbursements—Transfer from income to principal for depreciation. (1) In this section, “depreciation” means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year. (2) A fiduciary may transfer to principal a reasonable amount of the net cash […]
11.104B.430 – Disbursements—Reimbursement of income from principal.
RCW 11.104B.430 Disbursements—Reimbursement of income from principal. (1) If a fiduciary makes or expects to make an income disbursement described in subsection (2) of this section, the fiduciary may transfer an appropriate amount from principal to income in one or more accounting periods to reimburse income. (2) To the extent the fiduciary has not been […]
11.104B.440 – Disbursements—Reimbursement of principal from income.
RCW 11.104B.440 Disbursements—Reimbursement of principal from income. (1) If a fiduciary makes or expects to make a principal disbursement described in subsection (2) of this section, the fiduciary may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or provide a reserve for future principal disbursements. (2) […]
11.104B.450 – Disbursements—Income taxes.
RCW 11.104B.450 Disbursements—Income taxes. (1) A tax required to be paid by a fiduciary based on receipts allocated to income must be charged to income. (2) A tax required to be paid by a fiduciary based on receipts allocated to principal must be charged to principal, even if the tax is called an income tax […]
11.104B.460 – Disbursements—Adjustment between income and principal because of taxes.
RCW 11.104B.460 Disbursements—Adjustment between income and principal because of taxes. (1) A fiduciary may make an adjustment between income and principal to offset the shifting of economic interests or tax benefits between current income beneficiaries and successor beneficiaries which arises from: (a) An election or decision the fiduciary makes regarding a tax matter, other than […]
11.104B.500 – Death or termination of interest—Determination and distribution of net income.
RCW 11.104B.500 Death or termination of interest—Determination and distribution of net income. (1) This section applies when: (a) The death of an individual results in the creation of an estate or trust; or (b) An income interest in a trust terminates, whether the trust continues or is distributed. (2) A fiduciary of an estate or […]
11.104B.510 – Death or termination of interest—Distribution to successor beneficiary.
RCW 11.104B.510 Death or termination of interest—Distribution to successor beneficiary. (1) Except to the extent Article 3 of this chapter applies for a beneficiary that is a trust, each beneficiary described in RCW 11.104B.500(6) is entitled to receive a share of the net income equal to the beneficiary’s fractional interest in undistributed principal assets, using […]
11.104B.550 – Death or termination of interest—When right to income begins and ends.
RCW 11.104B.550 Death or termination of interest—When right to income begins and ends. (1) An income beneficiary is entitled to net income in accordance with the terms of the trust from the date an income interest begins. The income interest begins on the date specified in the terms of the trust or, if no date […]
11.104B.320 – Receipts normally apportioned—Marital deduction property not productive of income.
RCW 11.104B.320 Receipts normally apportioned—Marital deduction property not productive of income. (1) If a trust received property for which a gift or estate tax marital deduction was allowed and the settlor’s spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust assets otherwise do not […]
11.104B.330 – Receipts normally apportioned—Derivatives and options.
RCW 11.104B.330 Receipts normally apportioned—Derivatives and options. (1) In this section, “derivative” means a contract, instrument, other arrangement, or combination of contracts, instruments, or other arrangements, the value, rights, and obligations of which are, in whole or in part, dependent on or derived from an underlying tangible or intangible asset, group of tangible or intangible […]