§ 7504. Certain trustee powers not exercisable
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: September 5, 2006
Effective: September 5, 2006
20 Pa.C.S.A. § 7504
§ 7504. Certain trustee powers not exercisable
(1) If a trustee is prohibited by subsection (a)(1) from exercising a power conferred upon the trustee, the trustee nevertheless may exercise that power but shall be limited to distributions for the trustee's health, education, support or maintenance to the extent otherwise permitted by the terms of the trust.
(2) A trust created under a governing instrument executed on or before March 21, 1999, if no part of the principal of the trust would have been included in the gross estate of the trustee for Federal estate tax purposes if the trustee had died on March 21, 1999, without having exercised the power under the governing instrument to make discretionary distributions of principal or income to or for the benefit of the trustee, the trustee's estate or the creditors of either.
Credits
1998, Dec. 21, P.L. 1067, No. 141, § 2, imd. effective. Amended 2006, July 7, P.L. 625, No. 98, § 7, effective in 60 days [Sept. 5, 2006].
20 Pa.C.S.A. § 7504, PA ST 20 Pa.C.S.A. § 7504
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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