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Subchapter I. Definitions and General Principles
§ 61-101. Short title. - Subchapters I through VI of this chapter may be cited...
§ 61-102. Definitions. - In this chapter: (1) “Accounting period” means a calendar year...
§ 61-103. Fiduciary duties; general principles. - (a) In allocating receipts and disbursements to or between principal...
§ 61-104. Trustee's power to adjust. - (a) A trustee may adjust between principal and income to...
§ 61-105. Judicial control of discretionary power. - (a) In any proceeding that involves a fiduciary's decision to...
§ 61-106. Total return unitrusts. - (a) In this section: (1) “Disinterested person” means a person...
§ 61-107. Express total return unitrusts. - (a) The following provisions shall apply to a trust that,...
Subchapter II. Decedent’s Estate or Terminating Income Interest
§ 61-201. Determination and distribution of net income. - After a decedent dies, in the case of an estate,...
§ 61-202. Distribution to residuary and remainder beneficiaries. - (a) Each beneficiary described in § 61-201(4) of this title...
Subchapter III. Apportionment at Beginning and End of Income Interest
§ 61-301. When right to income begins and ends. - (a) An income beneficiary is entitled to net income from...
§ 61-302. Apportionment of receipts and disbursements when decedent dies or income interest begins. - (a) A trustee shall allocate an income receipt or disbursement...
§ 61-303. Apportionment when income interest ends. - (a) In this section, “undistributed income” means net income received...
Subchapter IV. Allocation of Receipts During Administration of Trust
§ 61-401. Character of receipts. - (a) In this section, “entity” means a corporation, partnership, limited...
§ 61-402. Distribution from trust or estate. - A trustee shall allocate to income an amount received as...
§ 61-403. Business and other activities conducted by an estate. - (a) If a trustee who conducts a business or other...
§ 61-404. Principal receipts. - A trustee shall allocate to principal: (1) To the extent...
§ 61-405. Rental property. - To the extent that a trustee accounts for receipts from...
§ 61-406. Obligation to pay money. - (a) An amount received as interest, whether determined at a...
§ 61-407. Insurance policies and similar contracts. - (a) Except as otherwise provided in subsection (b) of this...
§ 61-408. Insubstantial allocations not required. - If a trustee determines that an allocation between principal and...
§ 61-409. Deferred compensation, annuities, and similar payments. - (a) In this section: (1) “Payment” means a payment that...
§ 61-410. Liquidating asset. - (a) In this section, “liquidating asset” means an asset whose...
§ 61-411. Minerals, water and other natural resources. - (a) To the extent that a trustee accounts for receipts...
§ 61-412. Timber. - (a) To the extent that a trustee accounts for receipts...
§ 61-413. Property not productive of income. - Upon request of the income beneficiary, if the trustee determines...
§ 61-414. Derivatives and options. - (a) In this section, “derivative” means a contract or financial...
§ 61-415. Asset-backed securities. - (a) In this section, “asset-backed security” means an asset whose...
Subchapter V. Allocation of Disbursements During Administration of Trust
§ 61-501. Disbursements from income. - A trustee shall make the following disbursements from income to...
§ 61-502. Disbursements from principal. - (a) A trustee shall make the following disbursements from principal:...
§ 61-503. Transfers from income to principal for depreciation. - (a) In this section, “depreciation” means a reduction in value...
§ 61-504. Transfers from income to reimburse principal. - (a) If a trustee makes or expects to make a...
§ 61-505. Income taxes. - (a) A tax required to be paid by a trustee...
§ 61-506. Adjustments between principal and income because of taxes. - (a) A fiduciary may make adjustments between principal and income...
Subchapter VI. Miscellaneous Provisions
§ 61-601. Uniformity of application and construction. - In applying and construing subchapters I through V of this...
§ 61-602. Applicability of § 61-409 of this title. - Section 61-409 of this title applies to a trust described...
§ 61-603. Accounts with register of wills not affected. - Nothing in this chapter shall be construed to effect or...
§ 61-604. Certain charitable remainder unitrusts. - (a) Notwithstanding any contrary provision of the chapter, if the...
§ 61-605. Trusts governed by this act. - This chapter shall apply to any trust that is administered...