reglab/statecodes huggingface dataset:
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.270 - Receipts normally apportioned—Insubstantial allocation not required.

RCW 11.104B.270
Receipts normally apportioned—Insubstantial allocation not required.
(1) If a fiduciary determines that an allocation between income and principal required by RCW 11.104B.280, 11.104B.290, 11.104B.300, 11.104B.310, or 11.104B.340 is insubstantial, the fiduciary may allocate the entire amount to principal, unless RCW 11.104B.070(5) applies to the allocation.
(2) A fiduciary may presume an allocation is insubstantial under subsection (1) of this section if:
(a) The amount of the allocation would increase or decrease net income in an accounting period, as determined before the allocation, by less than 10 percent; and
(b) The asset producing the receipt to be allocated has a fair market value less than 10 percent of the total fair market value of the assets owned or held by the fiduciary at the beginning of the accounting period.
(3) The power to make a determination under subsection (1) of this section may be:
(a) Exercised by a cofiduciary in the manner described in RCW 11.104B.070(6); or
(b) Released or delegated for a reason described in RCW 11.104B.070(7) and in the manner described in RCW 11.104B.070(8).
[ 2021 c 140 § 2408.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.290 - Receipts normally apportioned—Liquidating assets.

RCW 11.104B.290
Receipts normally apportioned—Liquidating assets.
(1) In this section, "liquidating asset" means an asset whose value will diminish or terminate because the asset is expected to produce receipts for a limited time. The term includes a leasehold, patent, copyright, royalty right, and right to receive payments during a period of more than one year under an arrangement that does not provide for the payment of interest on the unpaid balance.
(2) This section does not apply to a receipt subject to RCW 11.104B.200, 11.104B.280, 11.104B.300, 11.104B.310, 11.104B.330, 11.104B.340, 11.104B.350, or 11.104B.420.
(3) A fiduciary shall allocate to income 10 percent of the receipts from a liquidating asset and the balance to principal.
[ 2021 c 140 § 2410.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.300 - Receipts normally apportioned—Minerals, water, and other natural resources.

RCW 11.104B.300
Receipts normally apportioned—Minerals, water, and other natural resources.
(1) To the extent a fiduciary accounts for a receipt from an interest in minerals, water, or other natural resources pursuant to this section, the fiduciary shall allocate the receipt:
(a) If received as nominal delay rental or nominal annual rent on a lease, a receipt must be allocated to income;
(b) If received from a production payment, a receipt must be allocated to income if and to the extent that the agreement creating the production payment provides a factor for interest or its equivalent. The balance must be allocated to principal;
(c) If an amount received as a royalty, shut-in-well payment, take-or-pay payment, bonus, or delay rental is more than nominal, 90 percent must be allocated to principal and the balance to income; or
(d) If an amount is received from a working interest or any other interest not provided for in (a), (b), or (c) of this subsection, 90 percent of the net amount received must be allocated to principal and the balance to income.
(2) An amount received on account of an interest in water that is renewable must be allocated to income. If the water is not renewable, 90 percent of the amount must be allocated to principal and the balance to income.
(3) This chapter applies whether or not a decedent or donor was extracting minerals, water, or other natural resources before the interest became subject to the trust.
(4) If a fiduciary owns or holds an interest in minerals, water, or other natural resources on January 1, 2022, the fiduciary may allocate receipts from the interest as provided in this chapter or in the manner used by the fiduciary before January 1, 2022. If the fiduciary acquires an interest in minerals, water, or other natural resources after January 1, 2022, the fiduciary shall allocate receipts from the interest as provided in this chapter.
[ 2021 c 140 § 2411.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.310 - Receipts normally apportioned—Timber.

RCW 11.104B.310
Receipts normally apportioned—Timber.
(1) To the extent a fiduciary does not account for receipts from the sale of timber and related products as a business under RCW 11.104B.220, the fiduciary shall allocate the net receipts:
(a) To income, to the extent the amount of timber cut from the land does not exceed the rate of growth of the timber;
(b) To principal, to the extent the amount of timber cut from the land exceeds the rate of growth of the timber or the net receipts are from the sale of standing timber;
(c) Between income and principal if the net receipts are from the lease of land used for growing and cutting timber or from a contract to cut timber from land, by determining the amount of timber cut from the land under the lease or contract and applying the rules in (a) or (b) of this subsection; or
(d) To principal, to the extent advance payments, bonuses, and other payments are not allocated under (a), (b), or (c) of this subsection.
(2) In determining net receipts to be allocated under subsection (1) of this section, a fiduciary shall deduct and transfer to principal a reasonable amount for depletion.
(3) This section applies to land owned or held by a fiduciary whether or not a settlor was cutting timber from the land before the fiduciary owned or held the property.
(4) If a fiduciary owns or holds an interest in land used for growing and cutting timber before January 1, 2022, the fiduciary may allocate net receipts from the sale of timber and related products as provided in this section or in the manner used by the fiduciary before January 1, 2022. If the fiduciary acquires an interest in land used for growing and cutting timber on or after January 1, 2022, the fiduciary shall allocate net receipts from the sale of timber and related products as provided in this section.
[ 2021 c 140 § 2412.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.320 - Receipts normally apportioned—Marital deduction property not productive of income.

RCW 11.104B.320
Receipts normally apportioned—Marital deduction property not productive of income.
(1) If a trust received property for which a gift or estate tax marital deduction was allowed and the settlor's spouse holds a mandatory income interest in the trust, the spouse may require the trustee, to the extent the trust assets otherwise do not provide the spouse with sufficient income from or use of the trust assets to qualify for the deduction, to:
(a) Make property productive of income;
(b) Convert property to property productive of income within a reasonable time; or
(c) Exercise the power to adjust under RCW 11.104B.070.
(2) The trustee may decide which action or combination of actions in subsection (1) of this section to take.
[ 2021 c 140 § 2413.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.330 - Receipts normally apportioned—Derivatives and options.

RCW 11.104B.330
Receipts normally apportioned—Derivatives and options.
(1) In this section, "derivative" means a contract, instrument, other arrangement, or combination of contracts, instruments, or other arrangements, the value, rights, and obligations of which are, in whole or in part, dependent on or derived from an underlying tangible or intangible asset, group of tangible or intangible assets, index, or occurrence of an event. The term includes stocks, fixed income securities, and financial instruments and arrangements based on indices, commodities, interest rates, weather-related events, and credit default events.
(2) To the extent a fiduciary does not account for a transaction in derivatives as a business under RCW 11.104B.220, the fiduciary shall allocate all receipts from the transaction and all disbursements made in connection with the transaction to principal.
(3) Subsection (4) of this section applies if:
(a) A fiduciary:
(i) Grants an option to buy property from a trust, whether or not the trust owns the property when the option is granted;
(ii) Grants an option that permits another person to sell property to the trust; or
(iii) Acquires an option to buy property for the trust or an option to sell an asset owned by the trust; and
(b) The fiduciary or other owner of the asset is required to deliver the asset if the option is exercised.
(4) If this subsection applies, the fiduciary shall allocate 10 percent to income and the balance to principal of the following amounts:
(a) An amount received for granting the option;
(b) An amount paid to acquire the option; and
(c) Gain or loss realized on the exercise, exchange, settlement, offset, closing, or expiration of the option.
[ 2021 c 140 § 2414.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.340 - Receipts normally apportioned—Asset-backed securities.

RCW 11.104B.340
Receipts normally apportioned—Asset-backed securities.
(1) If a fiduciary receives a payment from interest or other current return and from other proceeds of the collateral financial assets, the fiduciary shall allocate to income the portion of the payment which the payer identifies as being from interest or other current return and shall allocate the balance of the payment to principal.
(2) If a fiduciary receives one or more payments in exchange for the fiduciary's entire interest in an asset-backed security in one accounting period, the fiduciary shall allocate the payments to principal. If a payment is one of a series of payments that will result in the liquidation of the trust's interest in the security over more than one accounting period, the fiduciary shall allocate 10 percent of the payment to income and the balance to principal.
[ 2021 c 140 § 2415.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.350 - Receipts normally apportioned—Other financial instruments and arrangements.

RCW 11.104B.350
Receipts normally apportioned—Other financial instruments and arrangements.
A fiduciary shall allocate receipts from or related to a financial instrument or arrangement not otherwise addressed by this chapter. The allocation must be consistent with RCW 11.104B.330 and 11.104B.340.
[ 2021 c 140 § 2416.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.400 - Disbursements—Disbursement from income.

RCW 11.104B.400
Disbursements—Disbursement from income.
Subject to RCW 11.104B.430, and except as otherwise provided in RCW 11.104B.500(3) (b) or (c), a fiduciary shall disburse from income:
(1) One-half of:
(a) The regular compensation of the fiduciary and any person providing investment advisory, custodial, or other services to the fiduciary, to the extent income is sufficient; and
(b) An expense for an accounting, judicial or nonjudicial proceeding, or other matter that involves both income and successive interests, to the extent income is sufficient;
(2) The balance of the disbursements described in subsection (1) of this section, to the extent a fiduciary that is an independent person determines that making those disbursements from income would be in the interests of the beneficiaries;
(3) Another ordinary expense incurred in connection with administration, management, or preservation of property and distribution of income, including interest, an ordinary repair, regularly recurring tax assessed against principal, and an expense of an accounting, judicial or nonjudicial proceeding, or other matter that involves primarily an income interest, to the extent income is sufficient; and
(4) A premium on insurance covering loss of a principal asset or income from or use of the asset.
[ 2021 c 140 § 2501.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.410 - Disbursements—Disbursement from principal.

RCW 11.104B.410
Disbursements—Disbursement from principal.
(1) Subject to RCW 11.104B.440, and except as otherwise provided in RCW 11.104B.500(3)(b), a fiduciary shall disburse from principal:
(a) The balance of the disbursements described in RCW 11.104B.400 (1) and (3) after application of RCW 11.104B.400(2);
(b) The fiduciary's compensation calculated on principal as a fee for acceptance, distribution, or termination;
(c) A payment of an expense to prepare for or execute a sale or other disposition of property;
(d) A payment on the principal of a trust debt;
(e) A payment of an expense of an accounting, judicial or nonjudicial proceeding, or other matter that involves primarily principal, including a proceeding to construe the terms of the trust or protect property;
(f) A payment of a premium for insurance, including title insurance, not described in RCW 11.104B.400(4), of which the fiduciary is the owner and beneficiary;
(g) A payment of an estate or inheritance tax or other tax imposed because of the death of a decedent, including penalties, apportioned to the trust; and
(h) A payment:
(i) Related to environmental matters, including:
(A) Reclamation;
(B) Assessing environmental conditions;
(C) Remedying and removing environmental contamination;
(D) Monitoring remedial activities and the release of substances;
(E) Preventing future releases of substances;
(F) Collecting amounts from persons liable or potentially liable for the costs of activities described in (h)(i)(A) through (E) of this subsection (1);
(G) Penalties imposed under environmental laws or regulations;
(H) Other actions to comply with environmental laws or regulations;
(I) Statutory or common law claims by third parties; and
(J) Defending claims based on environmental matters; and
(ii) For a premium for insurance for matters described in (h)(i) of this subsection (1).
(2) If a principal asset is encumbered with an obligation that requires income from the asset to be paid directly to a creditor, the fiduciary shall transfer from principal to income an amount equal to the income paid to the creditor in reduction of the principal balance of the obligation.
[ 2021 c 140 § 2502.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.420 - Disbursements—Transfer from income to principal for depreciation.

RCW 11.104B.420
Disbursements—Transfer from income to principal for depreciation.
(1) In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year.
(2) A fiduciary may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:
(a) Of the part of real property used or available for use by a beneficiary as a residence;
(b) Of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; or
(c) Under this section, to the extent the fiduciary accounts:
(i) Under RCW 11.104B.290 for the asset; or
(ii) Under RCW 11.104B.220 for the business or other activity in which the asset is used.
(3) An amount transferred to principal under this section need not be separately held.
[ 2021 c 140 § 2503.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.430 - Disbursements—Reimbursement of income from principal.

RCW 11.104B.430
Disbursements—Reimbursement of income from principal.
(1) If a fiduciary makes or expects to make an income disbursement described in subsection (2) of this section, the fiduciary may transfer an appropriate amount from principal to income in one or more accounting periods to reimburse income.
(2) To the extent the fiduciary has not been and does not expect to be reimbursed by a third party, income disbursements to which subsection (1) of this section applies include:
(a) An amount chargeable to principal but paid from income because principal is illiquid;
(b) A disbursement made to prepare property for sale, including improvements and commissions; and
(c) A disbursement described in RCW 11.104B.410(1).
(3) If an asset whose ownership gives rise to an income disbursement becomes subject to a successive interest after an income interest ends, the fiduciary may continue to make transfers under subsection (1) of this section.
[ 2021 c 140 § 2504.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.440 - Disbursements—Reimbursement of principal from income.

RCW 11.104B.440
Disbursements—Reimbursement of principal from income.
(1) If a fiduciary makes or expects to make a principal disbursement described in subsection (2) of this section, the fiduciary may transfer an appropriate amount from income to principal in one or more accounting periods to reimburse principal or provide a reserve for future principal disbursements.
(2) To the extent a fiduciary has not been and does not expect to be reimbursed by a third party, principal disbursements to which subsection (1) of this section applies include:
(a) An amount chargeable to income but paid from principal because income is not sufficient;
(b) The cost of an improvement to principal, whether a change to an existing asset or the construction of a new asset, including a special assessment;
(c) A disbursement made to prepare property for rental, including tenant allowances, leasehold improvements, and commissions;
(d) A periodic payment on an obligation secured by a principal asset, to the extent the amount transferred from income to principal for depreciation is less than the periodic payment; and
(e) A disbursement described in RCW 11.104B.410(1).
(3) If an asset whose ownership gives rise to a principal disbursement becomes subject to a successive interest after an income interest ends, the fiduciary may continue to make transfers under subsection (1) of this section.
[ 2021 c 140 § 2505.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.450 - Disbursements—Income taxes.

RCW 11.104B.450
Disbursements—Income taxes.
(1) A tax required to be paid by a fiduciary based on receipts allocated to income must be charged to income.
(2) A tax required to be paid by a fiduciary based on receipts allocated to principal must be charged to principal, even if the tax is called an income tax by the taxing authority.
(3) A tax required to be paid by a fiduciary on a share of an entity's taxable income must be charged:
(a) To income to the extent that receipts from the entity are allocated only to income;
(b) To principal to the extent that receipts from the entity are allocated only to principal;
(c) Proportionately to income and principal to the extent that receipts from the entity are allocated to both income and principal.
(4) Before applying subsections (1) through (3) of this section, the trustee must adjust income or principal receipts by the distributions to a beneficiary for which the trust receives an income tax deduction.
[ 2021 c 140 § 2506.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.460 - Disbursements—Adjustment between income and principal because of taxes.

RCW 11.104B.460
Disbursements—Adjustment between income and principal because of taxes.
(1) A fiduciary may make an adjustment between income and principal to offset the shifting of economic interests or tax benefits between current income beneficiaries and successor beneficiaries which arises from:
(a) An election or decision the fiduciary makes regarding a tax matter, other than a decision to claim an income tax deduction to which subsection (2) of this section applies;
(b) An income tax or other tax imposed on the fiduciary or a beneficiary as a result of a transaction involving the fiduciary or a distribution by the fiduciary; or
(c) Ownership by the fiduciary of an interest in an entity a part of whose taxable income, whether or not distributed, is includable in the taxable income of the fiduciary or a beneficiary.
(2) If the amount of an estate tax marital or charitable 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 the fiduciary or a beneficiary are decreased, the fiduciary shall charge each beneficiary that benefits from the decrease in income tax to 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 the principal used to pay the increase would have qualified for a marital or charitable deduction but for the payment. The share of the reimbursement for each fiduciary or beneficiary whose income taxes are reduced must be the same as its share of the total decrease in income tax.
(3) A fiduciary that charges a beneficiary under subsection (2) of this section may offset the charge by obtaining payment from the beneficiary, withholding an amount from future distributions to the beneficiary, or adopting another method or combination of methods.
[ 2021 c 140 § 2507.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.510 - Death or termination of interest—Distribution to successor beneficiary.

RCW 11.104B.510
Death or termination of interest—Distribution to successor beneficiary.
(1) Except to the extent Article 3 of this chapter applies for a beneficiary that is a trust, each beneficiary described in RCW 11.104B.500(6) is entitled to receive a share of the net income equal to the beneficiary's fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more than one distribution of assets to beneficiaries to which this section applies, each beneficiary, including a beneficiary that does not receive part of the distribution, is entitled, as of each distribution date, to a share of the net income the fiduciary received after the decedent's death, an income interest's other terminating event, or the preceding distribution by the fiduciary.
(2) In determining a beneficiary's share of net income under subsection (1) of this section, the following rules apply:
(a) The beneficiary is entitled to receive a share of the net income equal to the beneficiary's fractional interest in the undistributed principal assets immediately before the distribution date.
(b) The beneficiary's fractional interest under (a) of this subsection must be calculated:
(i) On the aggregate value of the assets as of the distribution date without reducing the value by any unpaid principal obligation; and
(ii) Without regard to:
(A) Property specifically given to a beneficiary under the decedent's will or the terms of the trust; and
(B) Property required to pay pecuniary amounts not in trust.
(c) The distribution date under (a) of this subsection may be the date as of which the fiduciary calculates the value of the assets if that date is reasonably near the date on which the assets are distributed.
(3) To the extent a fiduciary does not distribute under this section all the collected but undistributed net income to each beneficiary as of a distribution date, the fiduciary shall maintain records showing the interest of each beneficiary in the net income.
(4) If this section applies to income from an asset, a fiduciary may apply the rules in this section to net gain or loss realized from the disposition of the asset after the decedent's death, an income interest's terminating event, or the preceding distribution by the fiduciary.
[ 2021 c 140 § 2602.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.550 - Death or termination of interest—When right to income begins and ends.

RCW 11.104B.550
Death or termination of interest—When right to income begins and ends.
(1) An income beneficiary is entitled to net income in accordance with the terms of the trust from the date an income interest begins. The income interest begins on the date specified in the terms of the trust or, if no date is specified, on the date an asset becomes subject to:
(a) The trust for the current income beneficiary; or
(b) A successive interest for a successor beneficiary.
(2) An asset becomes subject to a trust under subsection (1)(a) of this section:
(a) For an asset that is transferred to the trust during the settlor's life, on the date the asset is transferred;
(b) For an asset that becomes subject to the trust because of a decedent's death, on the date of the decedent's death, even if there is an intervening period of administration of the decedent's estate; or
(c) For an asset that is transferred to a fiduciary by a third party because of a decedent's death, on the date of the decedent's death.
(3) An asset becomes subject to a successive interest under subsection (1)(b) of this section on the day after the preceding income interest ends, as determined under subsection (4) of this section, even if there is an intervening period of administration to wind up the preceding income interest.
(4) An income interest ends on the day before an income beneficiary dies or another terminating event occurs or on the last day of a period during which there is no beneficiary to which a fiduciary may or must distribute income.
[ 2021 c 140 § 2701.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.560 - Death or termination of interest—Apportionment of receipts and disbursements when decedent dies or income interest begins.

RCW 11.104B.560
Death or termination of interest—Apportionment of receipts and disbursements when decedent dies or income interest begins.
(1) A fiduciary shall allocate an income receipt or disbursement, other than a receipt to which RCW 11.104B.500(2) applies, to principal if its due date occurs before the date on which:
(a) For an estate, the decedent died; or
(b) For a trust or successive interest, an income interest begins.
(2) If the due date of a periodic income receipt or disbursement occurs on or after the date on which a decedent died or an income interest begins, a fiduciary shall allocate the receipt or disbursement to income.
(3) If an income receipt or disbursement is not periodic or has no due date, a fiduciary shall treat the receipt or disbursement under this section as accruing from day to day. The fiduciary shall allocate to principal the portion of the receipt or disbursement accruing before the date on which a decedent died or an income interest begins, and to income the balance.
(4) A receipt or disbursement is periodic under subsections (2) and (3) of this section if:
(a) The receipt or disbursement must be paid at regular intervals under an obligation to make payments; or
(b) The payor customarily makes payments at regular intervals.
(5) An item of income or obligation is due under this section on the date the payor is required to make a payment. If a payment date is not stated, there is no due date.
(6) Distributions to shareholders or other owners from an entity to which RCW 11.104B.200 applies are due:
(a) On the date fixed by or on behalf of the entity for determining the persons entitled to receive the distribution;
(b) If no date is fixed, on the date of the decision by or on behalf of the entity to make the distribution; or
(c) If no date is fixed and the fiduciary does not know the date of the decision by or on behalf of the entity to make the distribution, on the date the fiduciary learns of the decision.
[ 2021 c 140 § 2702.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.570 - Death or termination of interest—Apportionment when income interest ends.

RCW 11.104B.570
Death or termination of interest—Apportionment when income interest ends.
(1) In this section, "undistributed income" means net income received on or before the date on which an income interest ends. The term does not include an item of income or expense which is due or accrued or net income that has been added or is required to be added to principal under the terms of the trust.
(2) Except as otherwise provided in subsection (3) of this section, when a mandatory income interest of a beneficiary ends, the fiduciary shall pay the beneficiary's share of the undistributed income that is not disposed of under the terms of the trust to the beneficiary or, if the beneficiary does not survive the date the interest ends, to the beneficiary's estate.
(3) If a beneficiary has an unqualified power to withdraw more than five percent of the value of a trust immediately before an income interest ends:
(a) The fiduciary shall allocate to principal the undistributed income from the portion of the trust which may be withdrawn; and
(b) Subsection (2) of this section applies only to the balance of the undistributed income.
(4) When a fiduciary's obligation to pay a fixed annuity or a fixed fraction of the value of assets ends, the fiduciary shall prorate the final payment as required to preserve an income tax, gift tax, estate tax, or other tax benefit.
[ 2021 c 140 § 2703.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.900 - Uniformity of application and construction.

RCW 11.104B.900
Uniformity of application and construction.
(1) In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
(2) To the extent that this chapter is in conflict with RCW 11.68.090, RCW 11.68.090 prevails.
[ 2021 c 140 § 2801.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.901 - Relation to electronic signatures in global and national commerce act.

RCW 11.104B.901
Relation to electronic signatures in global and national commerce act.
This chapter modifies, limits, or supersedes the electronic signatures in global and national commerce act, 15 U.S.C. Sec. 7001 et seq., but does not modify, limit, or supersede section 101(c) of that act (15 U.S.C. Sec. 7001(c)) or authorize electronic delivery of any of the notices described in section 103(b) of that act (15 U.S.C. Sec. 7003(b)).
[ 2021 c 140 § 2802.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.902 - Application.

RCW 11.104B.902
Application.
This chapter applies to a trust or estate existing or created on or after January 1, 2022, except as otherwise expressly provided in the terms of the trust or RCW 11.104B.001 through 11.104B.901.
[ 2021 c 140 § 2803.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.903 - Application of chapter 11.96A RCW.

RCW 11.104B.903
Application of chapter 11.96A RCW.
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. Formerly RCW 11.104A.901.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.904 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.

RCW 11.104B.904
Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
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. Formerly RCW 11.104A.907.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.104B - Uniform Fiduciary Income and Principal Act. › 11.104B.905 - Effective date—2021 c 140 §§ 2101-2806.

RCW 11.104B.905
Effective date—2021 c 140 §§ 2101-2806.
Sections 2101 through 2806 of this act take effect January 1, 2022.
[ 2021 c 140 § 2809.]
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.010 - Scope of chapter—Exceptions.

RCW 11.106.010
Scope of chapter—Exceptions.
This chapter does not apply to resulting trusts, constructive trusts, business trusts where certificates of beneficial interest are issued to the beneficiaries, investment trusts, voting trusts, insurance trusts prior to the death of the insured, trusts in the nature of mortgages or pledges, liquidation trusts or trusts for the sole purpose of paying dividends, interest or interest coupons, salaries, wages or pensions; nor does this chapter apply to personal representatives.
[ 2013 c 272 § 25; 1985 c 30 § 95. Prior: 1984 c 149 § 128; 1955 c 33 § 30.30.010; prior: 1951 c 226 § 10. Formerly RCW 30.30.010.]
NOTES:
Application—2013 c 272: See note following RCW 11.98.002.
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.020 - Trustee's annual statement.

RCW 11.106.020
Trustee's annual statement.
The trustee or trustees appointed by any will, deed, or agreement executed must mail or deliver at least annually to each permissible distributee, as defined in RCW 11.98.002, a written itemized statement of all current receipts and disbursements made by the trustee of the funds of the trust both principal and income, and upon the request of any such beneficiary must furnish the beneficiary an itemized statement of all property then held by that trustee, and may also file any such statement in the superior court of the county in which the trustee or one of the trustees resides.
[ 2013 c 272 § 26; 1985 c 30 § 96. Prior: 1984 c 149 § 129; 1955 c 33 § 30.30.020; prior: 1951 c 226 § 2. Formerly RCW 30.30.020.]
NOTES:
Application—2013 c 272: See note following RCW 11.98.002.
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
Trust provisions may relieve trustee from duty, restriction, or liability imposed by statute: RCW 11.97.010.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.030 - Intermediate and final accounts—Contents—Filing.

RCW 11.106.030
Intermediate and final accounts—Contents—Filing.
In addition to the statement required by RCW 11.106.020 any such trustee or trustees whenever it or they so desire, may file in the superior court of the county in which the trustees or one of the trustees resides an intermediate account under oath showing:
(1) The period covered by the account;
(2) The total principal with which the trustee is chargeable according to the last preceding account or the inventory if there is no preceding account;
(3) An itemized statement of all principal funds received and disbursed during such period;
(4) An itemized statement of all income received and disbursed during such period, unless waived;
(5) The balance of such principal and income remaining at the close of such period and how invested;
(6) The names and addresses of all living beneficiaries, including contingent beneficiaries, of the trust, and a statement as to any such beneficiary known to be under legal disability;
(7) A description of any possible unborn or unascertained beneficiary and his or her interest in the trust fund.
After the time for termination of the trust has arrived, the trustee or trustees may also file a final account in similar manner.
[ 2010 c 8 § 2092; 1985 c 30 § 97. Prior: 1984 c 149 § 130; 1955 c 33 § 30.30.030; prior: 1951 c 226 § 3. Formerly RCW 30.30.030.]
NOTES:
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.040 - Petition for statement of account.

RCW 11.106.040
Petition for statement of account.
At any time after the later of one year from the inception of the trust or one year after the day on which a report was last filed, any settlor or beneficiary of a trust may file a petition under RCW 11.96A.080 with the superior court in the county where the trustee or one of the trustees resides asking the court to direct the trustee or trustees to file in the court an account. At the hearing on such petition the court may order the trustee to file an account for good cause shown.
[ 1999 c 42 § 627; 1985 c 30 § 98. Prior: 1984 c 149 § 131; 1955 c 33 § 30.30.040; prior: 1951 c 226 § 4. Formerly RCW 30.30.040.]
NOTES:
Effective date—1999 c 42: See RCW 11.96A.902.
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.050 - Account filed—Return day—Notice.

RCW 11.106.050
Account filed—Return day—Notice.
When any account has been filed pursuant to RCW 11.106.030 or 11.106.040, the clerk of the court where filed shall fix a return day therefor as provided in RCW 11.96A.100(4) and issue a notice. The notice shall state the time and place for the return date, the name or names of the trustee or trustees who have filed the account, that the account has been filed, that the court is asked to settle the account, and that any objections or exceptions to the account must be filed with the clerk of the court on or before the return date. The notice shall be given as provided for notices under RCW 11.96A.110.
[ 1999 c 42 § 628; 1985 c 30 § 99. Prior: 1984 c 149 § 132; 1955 c 33 § 30.30.050; prior: 1951 c 226 § 5. Formerly RCW 30.30.050.]
NOTES:
Effective date—1999 c 42: See RCW 11.96A.902.
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.060 - Account filed—Objections—Appointment of guardians ad litem—Representatives.

RCW 11.106.060
Account filed—Objections—Appointment of guardians ad litem—Representatives.
Upon or before the return date any beneficiary of the trust may file the beneficiary's written objections or exceptions to the account filed or to any action of the trustee or trustees set forth in the account. The court shall appoint guardians ad litem as provided in RCW 11.96A.160 and the court may allow representatives to be appointed under RCW 11.96A.120 or 11.96A.250 to represent the persons listed in those sections.
[ 1999 c 42 § 629; 1985 c 30 § 100. Prior: 1984 c 149 § 133; 1977 ex.s. c 80 § 31; 1955 c 33 § 30.30.060; prior: 1951 c 226 § 6. Formerly RCW 30.30.060.]
NOTES:
Effective date—1999 c 42: See RCW 11.96A.902.
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
Purpose—Intent—Severability—1977 ex.s. c 80: See notes following RCW 4.16.190.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.070 - Court to determine accuracy, validity—Decree.

RCW 11.106.070
Court to determine accuracy, validity—Decree.
Upon the return date or at some later date fixed by the court if so requested by one or more of the parties, the court without the intervention of a jury and after hearing all the evidence submitted shall determine the correctness of the account and the validity and propriety of all actions of the trustee or trustees set forth in the account including the purchase, retention, and disposition of any of the property and funds of the trust, and shall render its decree either approving or disapproving the account or any part of it, and surcharging the trustee or trustees for all losses, if any, caused by negligent or wilful breaches of trust.
[ 1985 c 30 § 101. Prior: 1984 c 149 § 134; 1955 c 33 § 30.30.070; prior: 1951 c 226 § 7. Formerly RCW 30.30.070.]
NOTES:
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.080 - Effect of decree.

RCW 11.106.080
Effect of decree.
The decree rendered under RCW 11.106.070 shall be deemed final, conclusive, and binding upon all the parties interested including all incompetent, unborn, and unascertained beneficiaries of the trust subject only to the right of appeal under RCW 11.106.090.
[ 1985 c 30 § 102. Prior: 1984 c 149 § 135; 1955 c 33 § 30.30.080; prior: 1951 c 226 § 8. Formerly RCW 30.30.080.]
NOTES:
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.090 - Appeal from decree.

RCW 11.106.090
Appeal from decree.
The decree rendered under RCW 11.106.070 shall be a final order from which any party in interest may appeal as in civil actions to the supreme court or the court of appeals of the state of Washington.
[ 1985 c 30 § 103. Prior: 1984 c 149 § 136; 1971 c 81 § 80; 1955 c 33 § 30.30.090; prior: 1951 c 226 § 9. Formerly RCW 30.30.090.]
NOTES:
Rules of court: Method of appellate review superseded by RAP 2.2(a)(3), 18.22.
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.100 - Waiver of accounting by beneficiary.

RCW 11.106.100
Waiver of accounting by beneficiary.
Any adult beneficiary entitled to an accounting under either RCW 11.106.020 or 11.106.030 may waive such an accounting by a separate instrument delivered to the trustee.
[ 1985 c 30 § 104. Prior: 1984 c 149 § 137; 1955 c 33 § 30.30.100; prior: 1951 c 226 § 11. Formerly RCW 30.30.100.]
NOTES:
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.106 - Trustees' Accounting Act. › 11.106.110 - Modification under chapter 11.97 RCW—How constituted.

RCW 11.106.110
Modification under chapter 11.97 RCW—How constituted.
This chapter is declared to be of similar import to the uniform trustees' accounting act. Any modification under chapter 11.97 RCW, including waiver, of the requirements of this chapter in any will, deed, or agreement heretofore or hereafter executed shall be given effect whether the waiver refers to the uniform trustees' accounting act by name or other reference or to any other act of like or similar import.
[ 1985 c 30 § 105. Prior: 1984 c 149 § 138; 1955 c 33 § 30.30.110; prior: 1951 c 226 § 12. Formerly RCW 30.30.110.]
NOTES:
Short title—Application—Purpose—Severability—1985 c 30: See RCW 11.02.900 through 11.02.903.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.
2023 Revised Code of Washington › Title 11 - Probate and Trust Law › Chapter 11.107 - Trusts—Decanting Power. › 11.107.010 - Definitions.

RCW 11.107.010
Definitions.
The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.
(1) "Ascertainable standard" means a standard relating to an individual's health, education, support, or maintenance within the meaning of Title 26 U.S.C. Sec. 2041(b)(1)(A) or 2514(c)(1) of the federal internal revenue code and any applicable regulations, as amended, as of July 23, 2017.
(2) "Charitable interest" means an interest in a trust that:
(a) Is held by a charitable organization;
(b) Benefits charitable organizations;
(c) Is held for charitable purposes; or
(d) Holds assets subject to limitations permitting their use only for charitable, religious, eleemosynary, benevolent, educational, or similar purposes.
(3) "Charitable purpose" means a purpose that is for: The relief of poverty, the advancement of education or religion, the promotion of health, governmental or municipal purposes, or other purposes the achievement of which are beneficial to a community.
(4) "Decanting power" or "the decanting power" means the power of a trustee under this chapter to distribute income and principal of a first trust to one or more second trusts or to modify the terms of the first trust.
(5) "Expanded discretion" means a discretionary power of distribution that is not limited to an ascertainable standard or a reasonably definite standard.
(6) "First trust" means a trust over which a trustee may exercise the decanting power.
(7) "Limited discretion" means a discretionary power of distribution that is limited to an ascertainable standard or a reasonably definite standard.
(8) "Person" means an individual, estate, business or nonprofit entity, public corporation, government or governmental subdivision, agency, or instrumentality, or other legal entity.
(9) "Qualified beneficiary" means a beneficiary that on the date of qualification is described in RCW 11.98.002(2).
(10) "Reasonably definite standard" means a clearly measurable standard under which a holder of a power of distribution is legally accountable within the meaning of Title 26 U.S.C. Sec. 674(b)(5)(A) of the federal internal revenue code and any applicable regulations, as amended, as of July 23, 2017.
(11) "Second trust" means:
(a) A first trust after modification under this chapter; or
(b) A trust to which a distribution of income and principal from a first trust is or may be made under this chapter.
[ 2017 c 29 § 1.]