Statute · California Probate Code
Cal. Prob. Code § 16341 — Allocation of Receipts
Cal. Prob. Code § 16341
- Type
- Statute
- Source
- California Probate Code
- Jurisdiction
- California
- Date
- 2024-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 (commencing with Section 16330), from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is…
Citator
Cal. Prob. Code § 16341 — Allocation of Receipts is in force in the current edition of the Code, and nothing recorded condemns it.
A fiduciary shall allocate to income an amount received as a distribution of income, including a unitrust distribution under Article 3 (commencing with Section 16330), from a trust or estate in which the fiduciary has an interest, other than an interest the fiduciary purchased in a trust that is an investment entity, and shall allocate to principal an amount received as a distribution of principal from the trust or estate. If a fiduciary purchases, or receives from a settlor, an interest in a trust that is an investment entity, Section 16340, 16354, or 16355 applies to a receipt from the trust.