West Virginia Code
Chapter 44B. Uniform Principal and Income Act

Article 1. Definitions and Fiduciary Duties

§44B-1-101. Short Title - This chapter may be cited as the "Uniform Principal and...

§44B-1-102. Definitions - (a) "Accounting period" means a calendar year unless another twelve-month...

§44B-1-103. Fiduciary Duties; General Principles - (a) In allocating receipts and disbursements to or between principal...

§44B-1-104. Trustee's Power to Adjust - (a) Subject to the provisions of subsection (b) of this...

§44B-1-104a. Total Return Unitrust - (a) As used in this section: (1) "Disinterested person" means...

§44B-1-105. Trustee's Right to Give Notice - (a) A trustee may but is not required to give...

Article 2. Decedent's Estate or Terminating Income Interest

§44B-2-201. Determination and Distribution of Net Income - After a decedent dies, in the case of an estate,...

§44B-2-202. Distribution to Residuary and Remainder Beneficiaries - (a) Each beneficiary described in subdivision (4), section two hundred...

Article 3. Apportionment at Beginning and End of Income Interest

§44B-3-301. When Right to Income Begins and Ends - (a) An income beneficiary is entitled to net income from...

§44B-3-302. Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins - (a) A trustee shall allocate an income receipt or disbursement...

§44B-3-303. Apportionment When Income Interest Ends - (a) In this section, "undistributed income" means net income received...

Article 4. Allocation of Receipts During Administration of Trust

§44B-4-401. Character or Receipts - §44B-4-401. Character or receipts. (a) In this section, "entity" means...

§44B-4-402. Distribution From Trust or Estate - A trustee shall allocate to income an amount received as...

§44B-4-403. Business and Other Activities Conducted by Trustee - (a) If a trustee who conducts a business or other...

§44B-4-404. Principal Receipts - §44B-4-404. Principal receipts. A trustee shall allocate to principal: (1)...

§44B-4-405. Rental Property - To the extent that a trustee accounts for receipts from...

§44B-4-406. Obligation to Pay Money - (a) An amount received as interest, whether determined at a...

§44B-4-407. Insurance Policies and Similar Contracts - (a) Except as otherwise provided in subsection (b), a trustee...

§44B-4-408. Insubstantial Allocations Not Required - §44B-4-408. Insubstantial allocations not required. (a) If a trustee determines...

§44B-4-409. Deferred Compensation, Annuities and Similar Payments - (a) In this section: (1) "Payment" means a payment that...

§44B-4-410. Liquidating Asset - (a) In this section, "liquidating asset" means an asset whose...

§44B-4-411. Minerals, Water and Other Natural Resources - (a) To the extent that a trustee accounts for receipts...

§44B-4-412. Timber - (a) To the extent that a trustee accounts for receipts...

§44B-4-413. Property Not Productive of Income - (a) If a marital deduction is allowed for all or...

§44B-4-414. Derivatives and Options - (a) In this section, "derivative" means a contract or financial...

§44B-4-415. Asset-Backed Securities - (a) In this section, "asset-backed security" means an asset whose...

Article 5. Allocation of Disbursements During Administration of Trust

§44B-5-501. Disbursements From Income - A trustee shall make the following disbursements from income to...

§44B-5-502. Disbursements From Principal - (a) A trustee shall make the following disbursements from principal:...

§44B-5-503. Transfers From Income to Principal for Depreciation - (a) In this section, "depreciation" means a reduction in value...

§44B-5-504. Transfers From Income to Reimburse Principal - (a) If a trustee makes or expects to make a...

§44B-5-505. Income Taxes - (a) A tax required to be paid by a trustee...

§44B-5-506. Adjustments Between Principal and Income Because of Taxes - (a) A fiduciary may make adjustments between principal and income...

§44B-5-507. Effect on Marital Deduction - If a marital deduction gift is made in trust, in...

Article 6. Miscellaneous Provisions

§44B-6-601. Uniformity of Application and Construction - In applying and construing this chapter, consideration must be given...

§44B-6-602. Severability Clause - If any provision of this chapter or its application to...

§44B-6-603. Effective Date - This chapter takes effect on July 1, 2000.

§44B-6-604. Application of Chapter to Existing Trusts and Estates - This chapter applies, to any will and trust established under...

§44B-6-606. Transitional Matters - Section four hundred nine, article four of this chapter, as...