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. § 3363)
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§ 3363. 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 with sufficient income
from or use of the trust assets, and if the amounts that the trustee transfers from
principal to income under section 3324 of this title and distributes to the spouse from principal pursuant to the terms of the trust are
insufficient to provide the spouse with the beneficial enjoyment required to obtain
the marital deduction, the spouse may require the trustee to make property productive
of income, convert property within a reasonable time, or exercise the power conferred
by subsection 3324(a) of this title. 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. (Added 2011, No. 114 (Adj. Sess.), § 1.)