reglab/housing_qa huggingface dataset:
WA Rev Code § 11.104A.300 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104A - Washington Principal and Income Act of 2002.|11.104A.300 - Adjustments between principal and income because of taxes.

RCW 11.104A.300 Adjustments between principal and income because of taxes. (Effective until January 1, 2022.)(a) A fiduciary may make adjustments between principal and income to offset the shifting of economic interests or tax benefits between income beneficiaries and remainder beneficiaries which arise from:(1) Elections and decisions, other than those described in subsection (b) of this section, that the fiduciary makes from time to time regarding tax matters;(2) An income tax or any other tax that is imposed upon the fiduciary or a beneficiary as a result of a transaction involving or a distribution from the estate or trust; or(3) The ownership by an estate or trust of an interest in an entity whose taxable income, whether or not distributed, is includable in the taxable income of the estate, trust, or a beneficiary.(b) If the amount of an estate tax marital deduction or charitable contribution deduction is reduced because a fiduciary deducts an amount paid from principal for income tax purposes instead of deducting it for estate tax purposes, and as a result estate taxes paid from principal are increased and income taxes paid by an estate, trust, or beneficiary are decreased, each estate, trust, or beneficiary that benefits from the decrease in income tax shall reimburse the principal from which the increase in estate tax is paid. The total reimbursement must equal the increase in the estate tax to the extent that the principal used to pay the increase would have qualified for a marital deduction or charitable contribution deduction but for the payment. The proportionate share of the reimbursement for each estate, trust, or beneficiary whose income taxes are reduced must be the same as its proportionate share of the total decrease in income tax. An estate or trust shall reimburse principal from income.[ 2002 c 345 § 506.]
WA Rev Code § 11.104A.900 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104A - Washington Principal and Income Act of 2002.|11.104A.900 - Uniformity of application and construction—RCW 11.68.090 prevails.

RCW 11.104A.900 Uniformity of application and construction—RCW 11.68.090 prevails. (Effective until January 1, 2022.)(1) In applying and construing chapter 345, Laws of 2002, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact similar laws.(2) To the extent that this chapter is in conflict with RCW 11.68.090, RCW 11.68.090 prevails.[ 2021 c 140 § 4025; 2002 c 345 § 602.]
WA Rev Code § 11.104A.901 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104A - Washington Principal and Income Act of 2002.|11.104A.901 - Application of chapter 11.96A RCW.

RCW 11.104A.901 Application of chapter 11.96A RCW. (Effective until January 1, 2022. Recodified as RCW 11.104B.903.)Nothing in chapter 345, Laws of 2002 is intended to restrict the application of chapter 11.96A RCW to issues, questions, or disputes that arise under or that relate to chapter 345, Laws of 2002. Any and all such issues, questions, or disputes shall be resolved judicially or nonjudicially under chapter 11.96A RCW.[ 2002 c 345 § 603.]
WA Rev Code § 11.104A.904 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104A - Washington Principal and Income Act of 2002.|11.104A.904 - Effective date—2002 c 345.

RCW 11.104A.904 Effective date—2002 c 345. (Effective until January 1, 2022.)This act takes effect January 1, 2003.[ 2002 c 345 § 606.]
WA Rev Code § 11.104A.905 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104A - Washington Principal and Income Act of 2002.|11.104A.905 - Application of act to existing trusts and estates.

RCW 11.104A.905 Application of act to existing trusts and estates. (Effective until January 1, 2022.)Except as specifically provided otherwise in the terms of a trust or a will, chapter 345, Laws of 2002 shall apply to any receipt or expense received or incurred on or after January 1, 2003, by any trust or decedent's estate, whether established before, on, or after January 1, 2003, and whether the asset involved was acquired by the fiduciary before, on, or after January 1, 2003.[ 2002 c 345 § 607.]
WA Rev Code § 11.104A.906 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104A - Washington Principal and Income Act of 2002.|11.104A.906 - Transitional matters.

RCW 11.104A.906 Transitional matters. (Effective until January 1, 2022.)RCW 11.104A.180 applies to a trust described in RCW 11.104A.180(d) on and after the following dates:(a) If the trust is not funded as of July 26, 2009, the date of the decedent's death.(b) If the trust is initially funded in the calendar year beginning January 1, 2009, the date of the decedent's death.(c) If the trust is not described in subsection (a) or (b) of this section, January 1, 2009.[ 2009 c 365 § 2.]
WA Rev Code § 11.104A.907 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104A - Washington Principal and Income Act of 2002.|11.104A.907 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.

RCW 11.104A.907 Construction—Chapter applicable to state registered domestic partnerships—2009 c 521. (Effective until January 1, 2022. Recodified as RCW 11.104B.904.)For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to marital relationships and married persons, and references to dissolution of marriage shall apply equally to state registered domestic partnerships that have been terminated, dissolved, or invalidated, to the extent that such interpretation does not conflict with federal law. Where necessary to implement chapter 521, Laws of 2009, gender-specific terms such as husband and wife used in any statute, rule, or other law shall be construed to be gender neutral, and applicable to individuals in state registered domestic partnerships.[ 2009 c 521 § 40.]
WA Rev Code § 11.104B.001 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.001 - Short title.

RCW 11.104B.001 Short title. (Effective January 1, 2022.)This chapter may be known and cited as the uniform fiduciary income and principal act.[ 2021 c 140 § 2101.]
WA Rev Code § 11.104B.010 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.010 - Scope.

RCW 11.104B.010 Scope. (Effective January 1, 2022.)Except as otherwise provided in the terms of a trust or this chapter, this chapter applies to a trust or estate.[ 2021 c 140 § 2103.]
WA Rev Code § 11.104B.020 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.020 - Governing law.

RCW 11.104B.020 Governing law. (Effective January 1, 2022.)(1) Except as otherwise provided in the terms of a trust or this chapter, this chapter applies when this state is the principal place of administration of a trust or estate, subject to the following rules:(a) If the trust was created before January 1, 2022, this chapter applies only to a decision or action occurring on or after January 1, 2022; and(b) If the principal place of administration of the trust is changed to this state on or after January 1, 2022, this chapter applies only to a decision or action occurring on or after the date of the change.(2) Without precluding other means to establish a sufficient connection with the designated jurisdiction in a directed trust, terms of the trust which designate the principal place of administration of the trust are valid and controlling if:(a) A trustee's principal place of business is located in or a trustee is a resident of the designated jurisdiction;(b) A trust director's principal place of business is located in or a trust director is a resident of the designated jurisdiction; or(c) All or part of the administration occurs in the designated jurisdiction.(3) By accepting the trusteeship of a trust having its principal place of administration in this state or by moving the principal place of administration of a trust to this state, the trustee submits to the application of this chapter to any matter within the scope of this chapter involving the trust.[ 2021 c 140 § 2104.]
WA Rev Code § 11.104B.060 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.060 - Fiduciary duties—Judicial review of exercise of discretionary power—Request for instruction.

RCW 11.104B.060 Fiduciary duties—Judicial review of exercise of discretionary power—Request for instruction. (Effective January 1, 2022.)(1) In this section, "fiduciary decision" means:(a) A fiduciary's allocation between income and principal or other determination regarding income and principal required or authorized by the terms of the trust or this chapter;(b) The fiduciary's exercise or nonexercise of a discretionary power regarding income and principal granted by the terms of the trust or this chapter, including the power to adjust under RCW 11.104B.070, convert an income trust to a unitrust under RCW 11.104B.120(1)(a), change the percentage or method used to calculate a unitrust amount under RCW 11.104B.120(1)(b), or convert a unitrust to an income trust under RCW 11.104B.120(1)(c); or(c) The fiduciary's implementation of a decision described in (a) or (b) of this subsection.(2) The court may not order a fiduciary to change a fiduciary decision unless the court determines that the fiduciary decision was an abuse of the fiduciary's discretion.(3) If the court determines that a fiduciary decision was an abuse of the fiduciary's discretion, the court may order a remedy authorized by law. To place the beneficiaries in the positions the beneficiaries would have occupied if there had not been an abuse of the fiduciary's discretion, the court may order:(a) The fiduciary to exercise or refrain from exercising the power to adjust under RCW 11.104B.070;(b) The fiduciary to exercise or refrain from exercising the power to convert an income trust to a unitrust under RCW 11.104B.120(1)(a), change the percentage or method used to calculate a unitrust amount under RCW 11.104B.120(1)(b), or convert a unitrust to an income trust under RCW 11.104B.120(1)(c);(c) The fiduciary to distribute an amount to a beneficiary;(d) A beneficiary to return some or all of a distribution; or(e) The fiduciary to withhold an amount from one or more future distributions to a beneficiary.(4) On petition by a fiduciary for instruction, the court may determine whether a proposed fiduciary decision will result in an abuse of the fiduciary's discretion. If the petition describes the proposed decision, contains sufficient information to inform the beneficiary of the reasons for making the proposed decision and the facts on which the fiduciary relies, and explains how the beneficiary will be affected by the proposed decision, a beneficiary that opposes the proposed decision has the burden to establish that it will result in an abuse of the fiduciary's discretion.[ 2021 c 140 § 2202.]
WA Rev Code § 11.104B.100 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.100 - Unitrusts—Definitions.

RCW 11.104B.100 Unitrusts—Definitions. (Effective January 1, 2022.)The definitions in this section apply throughout this article unless the context clearly requires otherwise.(1) "Applicable value" means the amount of the net fair market value of a trust taken into account under RCW 11.104B.160.(2) "Express unitrust" means a trust for which, under the terms of the trust without regard to this article, income or net income must or may be calculated as a unitrust amount.(3) "Income trust" means a trust that is not a unitrust.(4) "Net fair market value of a trust" means the fair market value of the assets of the trust, less the noncontingent liabilities of the trust.(5) "Unitrust" means a trust for which net income is a unitrust amount. The term includes an express unitrust.(6) "Unitrust amount" means an amount computed by multiplying a determined value of a trust by a determined percentage. For a unitrust administered under a unitrust policy, the term means the applicable value, multiplied by the unitrust rate.(7) "Unitrust policy" means a policy described in RCW 11.104B.140 through 11.104B.180 and adopted under RCW 11.104B.120.(8) "Unitrust rate" means the rate used to compute the unitrust amount under subsection (6) of this section for a unitrust administered under a unitrust policy.[ 2021 c 140 § 2301.]
WA Rev Code § 11.104B.110 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.110 - Unitrusts—Application—Duties and remedies.

RCW 11.104B.110 Unitrusts—Application—Duties and remedies. (Effective January 1, 2022.)(1) Except as otherwise provided in subsection (2) of this section, this article applies to:(a) An income trust, unless the terms of the trust expressly prohibit use of this article by a specific reference to this article or an explicit expression of intent that net income not be calculated as a unitrust amount; and(b) An express unitrust, except to the extent the terms of the trust explicitly:(i) Prohibit use of this article by a specific reference to this article;(ii) Prohibit conversion to an income trust; or(iii) Limit changes to the method of calculating the unitrust amount.(2) This article does not apply to a trust described in 26 U.S.C. Sec. 170(f)(2)(B), 642(c)(5), 664(d), or 2702 (a)(3)(A)(ii) or (iii) or (b), as amended, as of January 1, 2022.(3) An income trust to which this article applies under subsection (1)(a) of this section may be converted to a unitrust under this article regardless of the terms of the trust concerning distributions. Conversion to a unitrust under this article does not affect other terms of the trust concerning distributions of income or principal.(4) This article applies to an estate only to the extent a trust is a beneficiary of the estate. To the extent of the trust's interest in the estate, the estate may be administered as a unitrust, the administration of the estate as a unitrust may be discontinued, or the percentage or method used to calculate the unitrust amount may be changed, in the same manner as for a trust under this article.(5) This article does not create a duty to take or consider action under this article or to inform a beneficiary about the applicability of this article.(6) A fiduciary that in good faith takes or fails to take an action under this article is not liable to a person affected by the action or inaction.[ 2021 c 140 § 2302.]
WA Rev Code § 11.104B.130 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.130 - Unitrusts—Notice.

RCW 11.104B.130 Unitrusts—Notice. (Effective January 1, 2022.)(1) A notice required by RCW 11.104B.120(2)(b) must be sent to:(a) All beneficiaries that receive or are entitled to receive income from the trust or would be entitled to receive a distribution of principal if the trust were terminated at the time the notice is sent, assuming no power of appointment is exercised; and(b) Each person that is granted a power over the trust by the terms of the trust, to the extent the power is exercisable when the person is not then serving as a trustee:(i) Including a:(A) Power over the investment, management, or distribution of trust property or other matters of trust administration; and(B) Power to appoint or remove a trustee or person described in this subsection; and(ii) Excluding a:(A) Power of appointment;(B) Power of a beneficiary over the trust, to the extent the exercise or nonexercise of the power affects the beneficial interest of the beneficiary; and(C) Power over the trust if the terms of the trust provide that the power is held in a nonfiduciary capacity and the power must be held in a nonfiduciary capacity to achieve a tax objective under the federal internal revenue code of 1986, as amended, as of January 1, 2022.(2) A person may consent in a record at any time to action proposed under RCW 11.104B.120(2)(b). A notice required by RCW 11.104B.120(2)(b) need not be sent to a person that consents under this subsection.(3) A notice required by RCW 11.104B.120(2)(b) must include:(a) The action proposed under RCW 11.104B.120(2)(b);(b) For a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under RCW 11.104B.120(1)(a);(c) For a change in the percentage or method used to calculate the unitrust amount, a copy of the unitrust policy or amendment or replacement of the unitrust policy adopted under RCW 11.104B.120(1)(b);(d) A statement that the person to which the notice is sent may object to the proposed action by stating in a record the basis for the objection and sending or delivering the record to the fiduciary;(e) The date by which an objection under (d) of this subsection (3) must be received by the fiduciary, which must be at least 30 days after the date the notice is sent;(f) The date on which the action is proposed to be taken and the date on which the action is proposed to take effect;(g) The name and contact information of the fiduciary; and(h) The name and contact information of a person that may be contacted for additional information.[ 2021 c 140 § 2304.]
WA Rev Code § 11.104B.140 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.140 - Unitrusts—Unitrust policies.

RCW 11.104B.140 Unitrusts—Unitrust policies. (Effective January 1, 2022.)(1) In administering a unitrust under this article, a fiduciary shall follow a unitrust policy adopted under RCW 11.104B.120(1) (a) or (b) or amended or replaced under RCW 11.104B.120(1)(b).(2) A unitrust policy must provide:(a) The unitrust rate or the method for determining the unitrust rate under RCW 11.104B.150;(b) The method for determining the applicable value under RCW 11.104B.160; and(c) The rules described in RCW 11.104B.150 through 11.104B.180, which apply in the administration of the unitrust, whether the rules are:(i) Mandatory, as provided in RCW 11.104B.160(1) and 11.104B.170(1); or(ii) Optional, as provided in RCW 11.104B.150, 11.104B.160(2), 11.104B.170(2), and 11.104B.180(1), to the extent the fiduciary elects to adopt those rules.[ 2021 c 140 § 2305.]
WA Rev Code § 11.104B.150 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.150 - Unitrusts—Unitrust rates.

RCW 11.104B.150 Unitrusts—Unitrust rates. (Effective January 1, 2022.)(1) Except as otherwise provided in RCW 11.104B.180(2)(a), a unitrust rate may be:(a) A fixed unitrust rate; or(b) A unitrust rate that is determined for each period using:(i) A market index or other published data; or(ii) A mathematical blend of market indices or other published data over a stated number of preceding periods.(2) Except as otherwise provided in RCW 11.104B.180(2)(a), a unitrust policy may provide:(a) A limit on how high the unitrust rate determined under subsection (1)(b) of this section may rise;(b) A limit on how low the unitrust rate determined under subsection (1)(b) of this section may fall;(c) A limit on how much the unitrust rate determined under subsection (1)(b) of this section may increase over the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods;(d) A limit on how much the unitrust rate determined under subsection (1)(b) of this section may decrease below the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods; or(e) A mathematical blend of any of the unitrust rates determined under subsection (1)(b) of this section and (a) through (d) of this subsection.[ 2021 c 140 § 2306.]
WA Rev Code § 11.104B.160 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.160 - Unitrusts—Applicable value.

RCW 11.104B.160 Unitrusts—Applicable value. (Effective January 1, 2022.)(1) A unitrust policy must provide the method for determining the fair market value of an asset for the purpose of determining the unitrust amount, including:(a) The frequency of valuing the asset, which need not require a valuation in every period; and(b) The date for valuing the asset in each period in which the asset is valued.(2) Except as otherwise provided in RCW 11.104B.180(2)(b), a unitrust policy may provide methods for determining the amount of the net fair market value of the trust to take into account in determining the applicable value, including:(a) Obtaining an appraisal of an asset for which fair market value is not readily available;(b) Exclusion of specific assets or groups or types of assets;(c) Other exceptions or modifications of the treatment of specific assets or groups or types of assets;(d) Identification and treatment of cash or property held for distribution;(e) Use of:(i) An average of fair market values over a stated number of preceding periods; or(ii) Another mathematical blend of fair market values over a stated number of preceding periods;(f) A limit on how much the applicable value of all assets, groups of assets, or individual assets may increase over:(i) The corresponding applicable value for the preceding period; or(ii) A mathematical blend of applicable values over a stated number of preceding periods;(g) A limit on how much the applicable value of all assets, groups of assets, or individual assets may decrease below:(i) The corresponding applicable value for the preceding period; or(ii) A mathematical blend of applicable values over a stated number of preceding periods;(h) The treatment of accrued income and other features of an asset which affect value; and(i) Determining the liabilities of the trust, including treatment of liabilities to conform with the treatment of assets under (a) through (h) of this subsection (2).[ 2021 c 140 § 2307.]
WA Rev Code § 11.104B.170 (2021)
2021 Revised Code of Washington|Title 11 - Probate and Trust Law|Chapter 11.104B - Uniform Fiduciary Income and Principal Act.|11.104B.170 - Unitrusts—Period.

RCW 11.104B.170 Unitrusts—Period. (Effective January 1, 2022.)(1) A unitrust policy must provide the period used under RCW 11.104B.150 and 11.104B.160. Except as otherwise provided in RCW 11.104B.180(2)(c), the period may be:(a) A calendar year;(b) A 12-month period other than a calendar year;(c) A calendar quarter;(d) A three-month period other than a calendar quarter; or(e) Another period.(2) Except as otherwise provided in RCW 11.104B.180(2), a unitrust policy may provide standards for:(a) Using fewer preceding periods under RCW 11.104B.150 (1)(b)(ii) or (2)(c) or (d) if:(i) The trust was not in existence in a preceding period; or(ii) Market indices or other published data are not available for a preceding period;(b) Using fewer preceding periods under RCW 11.104B.160(2) (e)(i) or (ii), (f)(ii), or (g)(ii) if:(i) The trust was not in existence in a preceding period; or(ii) Fair market values are not available for a preceding period; and(c) Prorating the unitrust amount on a daily basis for a part of a period in which the trust or the administration of the trust as a unitrust or the interest of any beneficiary commences or terminates.[ 2021 c 140 § 2308.]