§ 7799. Income on distributive shares
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: November 6, 2006
Effective: November 6, 2006
20 Pa.C.S.A. § 7799
§ 7799. Income on distributive shares
Except as otherwise provided by the trust instrument or by the provisions of section 3543 (relating to income on distributive shares):
(1) If a sum of money is directed to be set aside at a specified time as a separate trust, it shall be entitled to income at the annual rate of 5% from the date it was to be set aside until it is set aside. If a sum of money is directed to be paid outright, it shall be entitled to income at the annual rate of 5% from three months after it became payable until it is paid.
(3) All income from real and personal property earned during the administration of a trust and not payable to others pursuant to the governing instrument or the provisions of this section shall be distributed pro rata among the income beneficiaries of a continuing trust and other persons entitled to residuary shares of the trust.
Credits
2006, July 7, P.L. 625, No. 98, § 9, effective in 120 days [Nov. 6, 2006].
20 Pa.C.S.A. § 7799, PA ST 20 Pa.C.S.A. § 7799
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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