California Probate Code ARTICLE 5.3 - Allocation of Receipts During Administration of Trust: Receipts Normally Apportioned

• Section 16360.
  (a) If a trustee determines that an allocation between principal and income required by Section 16361, 16362, 16363, 16364, or 16367 is insubstantial, the trustee may...
• Section 16361.
  (a) For purposes of this section, the following terms have the following meanings:(1) “Payment” means a payment that a trustee may receive over a fixed number of...
• Section 16361.1.
  Section 16361, as amended by the act adding this section, applies to a trust described in subdivision (d) of Section 16361, on and after the...
• Section 16362.
  (a) In this section, “liquidating asset” means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a period...
• Section 16363.
  (a) To the extent that a trustee accounts for receipts from an interest in minerals, water, or other natural resources pursuant to this section, the trustee...
• Section 16364.
  (a) To the extent that a trustee accounts for receipts from the sale of timber and related products pursuant to this section, the trustee shall allocate...
• Section 16365.
  (a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse...
• Section 16366.
  (a) In this section, “derivative” means a contract or financial instrument or a combination of contracts and financial instruments that gives a trust the right or...
• Section 16367.
  (a) In this section, “asset-backed security” means an asset whose value is based upon the right it gives the owner to receive distributions from the proceeds...

Last modified: October 22, 2018