California Probate Code

§ 16347

PROB § 16347 Effective Jan 1, 2024Div. 9 · Part 4 · Ch. 3 · Art. 4

Statute text

(a)If a fiduciary determines that an allocation between income and principal required by Section 16348, 16349, 16350, 16351, or 16354 is insubstantial, the fiduciary may allocate the entire amount to principal, unless subdivision (e) of Section 16327 applies to the allocation.

(b)A fiduciary may presume an allocation is insubstantial under subdivision (a) if both of the following conditions are met:

(1)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.

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Legislative history

Repealed and added by Stats. 2023, Ch. 28, Sec. 2. (SB 522) Effective January 1, 2024.