California Probate Code

§ 16004.5

PROB § 16004.5 Effective Jan 1, 2004Div. 9 · Part 4 · Ch. 1 · Art. 1

Statute text

(a)A trustee may not require a beneficiary to relieve the trustee of liability as a condition for making a distribution or payment to, or for the benefit of, the beneficiary, if the distribution or payment is required by the trust instrument.

(b)This section may not be construed as affecting the trustee’s right to:

(1)Maintain a reserve for reasonably anticipated expenses, including, but not limited to, taxes, debts, trustee and accounting fees, and costs and expenses of administration.

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Legislative history

Added by Stats. 2003, Ch. 585, Sec. 1. Effective January 1, 2004.