The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
Subchapter
004
:
ALLOCATION OF RECEIPTS DURING ADMINISTRATION OF TRUST
(Cite as: 14 V.S.A. § 3358)
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§ 3358. Insubstantial allocations not required
If a trustee determines that an allocation between principal and income required by
section 3359, 3360, 3361, 3362, or 3365 of this title is insubstantial, the trustee may allocate the entire amount to principal unless
one of the circumstances described in subsection 3324(c) of this title applies to the allocation. This power may be exercised by a cotrustee in the circumstances
described in subsection 3324(d) of this title and may be released for the reasons and in the manner described in subsection 3324(e) of this title. An allocation is presumed to be insubstantial if:
(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; or
(2) the value of the asset producing the receipt for which the allocation would be made
is less than 10 percent of the total value of the trust’s assets at the beginning
of the accounting period. (Added 2011, No. 114 (Adj. Sess.), § 1.)