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§ 28-4804-13 — District of Columbia Law | CourtGPT
  1. Home/
  2. Laws/
  3. District of Columbia/
  4. Title 28 - Commercial Instruments and Transactions. [Enacted Title]/
  5. Chapter 48 - Principal and Income; Uniform Lawsub/
  6. Subchapter IV - Allocation of Receipts During Administration of Trustsub/
  7. Subpart 3 - Receipts Normally Apportioned§ 28–4804.08. Insubstantial Allocations Not Required/
  8. § 28-4804-13
District of Columbia Legal Code
13. Property not productive of income. (a) If a marital deduction is allowed for all or part of a trust whose assets consist substantially of property that does not provide the spouse or domestic partner with sufficient income from or use of the trust assets, and if the amounts that the trustee transfers from principal to income under § 28-4801.04 and distributes to the spouse or domestic partner from principal pursuant to the terms of the trust are insufficient to provide the spouse or domestic partner with the beneficial enjoyment required to obtain the marital deduction, the spouse or domestic partner may require the trustee to make property productive of income, convert property within a reasonable time, or exercise the power conferred by § 28-4801.04(a). The trustee may decide which action or combination of actions to take. (b) In cases not governed by subsection (a) of this section, proceeds from the sale or other disposition of an asset are principal without regard to the amount of income the asset produces during any accounting period. (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087; Sept. 12, 2008, D.C.

position of an asset are principal without regard to the amount of income the asset produces during any accounting period. (Apr. 27, 2001, D.C. Law 13-292, § 502(c), 48 DCR 2087; Sept. 12, 2008, D.C. Law 17-231, § 26(d), 55 DCR 6758.) Effect of Amendments D.C. Law 17-231, in subsec. (d), substituted 'spouse or domestic partner' for 'spouse'. Editor's Notes Uniform Law: This section is based upon § 413 of the Uniform Principal and Income Act (1997 Act).

§ 28-4804-13

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