§ 7740.7. Division of trusts
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 20 Pa.C.S.A. Decedents, Estates and FiduciariesEffective: January 1, 2017
Effective: January 1, 2017
20 Pa.C.S.A. § 7740.7
§ 7740.7. Division of trusts
(a) Without court approval.--A trustee may, without court approval, divide a trust into separate trusts, allocating to each separate trust either a fractional share of each asset and each liability held by the original trust or assets having an appropriate aggregate fair market value and fairly representing the appreciation or depreciation in the assets of the original trust as a whole. The beneficiaries of the separate trusts may be different so long as their rights are not impaired. If the division reflects disclaimers or different tax elections, the division shall relate back to the date to which the disclaimer or tax election relates.
Credits
2006, July 7, P.L. 625, No. 98, § 9, effective in 120 days [Nov. 6, 2006]. Amended 2016, July 8, P.L. 497, No. 79, § 14, effective Jan. 1, 2017.
20 Pa.C.S.A. § 7740.7, PA ST 20 Pa.C.S.A. § 7740.7
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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