2012 Massachusetts General Laws
PART II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS(Chapters 183 through 210)
TITLE II DESCENT AND DISTRIBUTION, WILLS, ESTATES OF DECEASED PERSONS AND ABSENTEES, GUARDIANSHIP, CONSERVATORSHIP AND TRUSTS
CHAPTER 201C STATUTORY CUSTODIANSHIP TRUSTS
Section 2 Application of income and principal; accounting by trustee

[ Text of section effective until March 31, 2012. Repealed by 2008, 521, Sec. 23. See 2008, 521, Sec. 44 as amended by 2010, 409, Sec. 23 and 2011, 224.]

Section 2. During the life of the transferor the trustee or trustees shall apply the income and principal, by payment to the transferor or by direct expenditure, as may be necessary for the comfortable and suitable maintenance and support of the transferor and his family in accordance with the principles applicable to a conservator. Upon the death of the transferor the remaining property shall be delivered and paid over to the estate of the transferor. With respect to the property in the trust, except as modified in the instrument of transfer, the trustee or trustees shall have the statutory optional fiduciary powers as provided in chapter one hundred and eighty-four B and such additional rights and powers as the transferor may provide by written instrument. The trustee or trustees shall account at least annually to the transferor or to his guardian or conservator, if any, and after the death of the transferor to his executor or administrator. In the event of the incompetency of the transferor the trustee or trustees may apply to the probate court in the same manner as a guardian or conservator for authority to deal with property held in trust in any manner in which the court might authorize a guardian or conservator to deal with property of the transferor.