RCW 11.104B.270
Receipts normally apportioned—Insubstantial allocation not required.
(1) If a fiduciary determines that an allocation between income and principal required by RCW 11.104B.280, 11.104B.290, 11.104B.300, 11.104B.310, or 11.104B.340 is insubstantial, the fiduciary may allocate the entire amount to principal, unless RCW 11.104B.070(5) applies to the allocation.
(2) A fiduciary may presume an allocation is insubstantial under subsection (1) of this section if:
(a) The amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than 10 percent; and
(b) The asset producing the receipt to be allocated has a fair market value less than 10 percent of the total fair market value of the assets owned or held by the fiduciary at the beginning of the accounting period.
(3) The power to make a determination under subsection (1) of this section may be:
(a) Exercised by a cofiduciary in the manner described in RCW 11.104B.070(6); or
(b) Released or delegated for a reason described in RCW 11.104B.070(7) and in the manner described in RCW 11.104B.070(8).
[ 2021 c 140 § 2408.]
Structure Revised Code of Washington
Title 11 - Probate and Trust Law
Chapter 11.104B - Uniform Fiduciary Income and Principal Act.
11.104B.050 - Fiduciary duties—General principles.
11.104B.070 - Fiduciary duties—Power to adjust.
11.104B.100 - Unitrusts—Definitions.
11.104B.110 - Unitrusts—Application—Duties and remedies.
11.104B.120 - Unitrusts—Authority of fiduciary.
11.104B.130 - Unitrusts—Notice.
11.104B.140 - Unitrusts—Unitrust policies.
11.104B.150 - Unitrusts—Unitrust rates.
11.104B.160 - Unitrusts—Applicable value.
11.104B.170 - Unitrusts—Period.
11.104B.180 - Unitrust—Special tax benefits—Other rules.
11.104B.200 - Receipts from entities—Character.
11.104B.210 - Receipts from entities—Distributions from trusts and estates.
11.104B.220 - Receipts from entities—Businesses and other activities conducted by fiduciary.
11.104B.230 - Receipts not normally apportioned—Principal receipts.
11.104B.240 - Receipts not normally apportioned—Rental property.
11.104B.250 - Receipts not normally apportioned—Receipt on obligation to be paid in money.
11.104B.260 - Receipts not normally apportioned—Insurance policies and contracts.
11.104B.270 - Receipts normally apportioned—Insubstantial allocation not required.
11.104B.280 - Receipts normally apportioned—Deferred compensation, annuities, and similar payments.
11.104B.290 - Receipts normally apportioned—Liquidating assets.
11.104B.300 - Receipts normally apportioned—Minerals, water, and other natural resources.
11.104B.310 - Receipts normally apportioned—Timber.
11.104B.320 - Receipts normally apportioned—Marital deduction property not productive of income.
11.104B.330 - Receipts normally apportioned—Derivatives and options.
11.104B.340 - Receipts normally apportioned—Asset-backed securities.
11.104B.350 - Receipts normally apportioned—Other financial instruments and arrangements.
11.104B.400 - Disbursements—Disbursement from income.
11.104B.410 - Disbursements—Disbursement from principal.
11.104B.420 - Disbursements—Transfer from income to principal for depreciation.
11.104B.430 - Disbursements—Reimbursement of income from principal.
11.104B.440 - Disbursements—Reimbursement of principal from income.
11.104B.450 - Disbursements—Income taxes.
11.104B.460 - Disbursements—Adjustment between income and principal because of taxes.
11.104B.500 - Death or termination of interest—Determination and distribution of net income.
11.104B.510 - Death or termination of interest—Distribution to successor beneficiary.
11.104B.550 - Death or termination of interest—When right to income begins and ends.
11.104B.570 - Death or termination of interest—Apportionment when income interest ends.
11.104B.900 - Uniformity of application and construction.
11.104B.901 - Relation to electronic signatures in global and national commerce act.
11.104B.903 - Application of chapter 11.96A RCW.
11.104B.904 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.