New York Estates, Powers & Trusts Law Part 5 - ALLOCATION OF DISBURSEMENTS DURING ADMINISTRATION OF TRUST

• 11-a-5.1 - Disbursements From Income
  11-A-5.1 Disbursements from income A trustee shall make the following disbursements from income to the extent that they are not disbursements to which subparagraph 11-A-2.1...
• 11-a-5.2 - Disbursements From Principal
  11-A-5.2 Disbursements from principal (a) A trustee shall make the following disbursements from principal: (1) the remaining two-thirds of the disbursements described in paragraph 11-A-5.1...
• 11-a-5.3 - Transfers From Income to Principal for Depreciation
  11-A-5.3 Transfers from income to principal for depreciation (a) In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or...
• 11-a-5.4 - Transfers From Income to Reimburse Principal
  11-A-5.4 Transfers from income to reimburse principal (a) If a trustee makes or expects to make a principal disbursement described in this section, the trustee...
• 11-a-5.5 - Income Taxes
  11-A-5.5 Income taxes (a) A tax required to be paid by a trustee based on receipts allocated to income must be paid from income. (b)...
• 11-a-5.6 - Adjustments Between Principal and Income Because of Taxes
  11-A-5.6 Adjustments between principal and income because of taxes A fiduciary may make adjustments between principal and income to offset the shifting of economic interests...

Last modified: February 3, 2019