Massachusetts General Laws
Title II - Descent and Distribution, Wills, Estates of Deceased Persons and Absentees, Guardianship, Conservatorship and Trusts
Chapter 203d - Principal and Income

Section 1 - Short Title - Section 1. This chapter shall be known as and may...

Section 2 - Definitions - Section 2. As used in this chapter, the following words...

Section 3 - Fiduciary Duties; General Principles - Section 3. (a) In allocating receipts and disbursements to or...

Section 4 - Trustee's Power to Adjust - Section 4. (a) A trustee may adjust between principal and...

Section 5 - Judicial Control of Discretionary Powers - Section 5. (a) A court shall not change a trustee's...

Section 6 - Determination and Distribution of Net Income - Section 6. After a decedent dies, in the case of...

Section 7 - Distribution to Residuary and Remainder Beneficiaries - Section 7. (a) Each beneficiary described in paragraph (4) of...

Section 8 - When Right to Income Begins and Ends - Section 8. (a) An income beneficiary is entitled to net...

Section 8a - Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins - Section 8A. (a) A trustee shall allocate an income receipt...

Section 9 - Apportionment When Income Interest Ends - Section 9. (a) When a mandatory income interest ends, the...

Section 10 - Character of Receipts - Section 10. (a) Except as otherwise provided in this section,...

Section 11 - Distribution From Trust or Estate - Section 11. A trustee shall allocate to income an amount...

Section 12 - Business and Other Activities Conducted by Trustee - Section 12. (a) If a trustee who conducts a business...

Section 13 - Principal Receipts - Section 13. If not allocated to income, a trustee shall...

Section 14 - Rental Property - Section 14. If a trustee accounts for receipts from rental...

Section 15 - Obligation to Pay Money - Section 15. (a) An amount received as interest, whether determined...

Section 16 - Insurance Policies and Similar Contracts - Section 16. (a) Except as otherwise provided in subsection (b),...

Section 17 - Insubstantial Allocations Not Required - Section 17. If a trustee determines that an allocation between...

Section 18 - Deferred Compensation, Annuities and Similar Payments - Section 18. (a) If a payment is characterized as interest...

Section 19 - Liquidating Asset - Section 19. A trustee shall allocate to income 10 per...

Section 20 - Minerals, Water, and Other Natural Resources - Section 20. (a) If a trustee accounts for receipts from...

Section 21 - Timber - Section 21. (a) If a trustee accounts for receipts from...

Section 22 - Property Not Productive of Income - Section 22. (a) If a marital deduction is allowed for...

Section 23 - Derivatives and Options - Section 23. (a) To the extent that a trustee does...

Section 24 - Asset-Backed Securities - Section 24. (a) If a trust receives a payment from...

Section 25 - Disbursements From Income - Section 25. A trustee shall make the following disbursements from...

Section 26 - Disbursements From Principal - Section 26. (a) A trustee shall make the following disbursements...

Section 27 - Transfers From Income to Principal for Depreciation - Section 27. (a) A trustee may transfer to principal a...

Section 28 - Transfers From Income to Reimburse Principal - Section 28. If an amount chargeable to income is unusually...

Section 29 - Income Taxes - Section 29. (a) A tax required to be paid by...