2019 New York Laws
EPT - Estates, Powers and Trusts
Article 11-A - Uniform Principal and Income Act
Part 5 - Allocation of Disbursements During Administration of Trust
11-A-5.1 - Disbursements From Income
§ 11-A-5.1 Disbursements from income A trustee shall make the following disbursements from income to the extent that they are not disbursements to which subparagraph 11-A-2.1 (2)(B) or (C) applies:(1) one-third of the regular compensation of any person providing investment advisory or custodial services to the trustee;
(2) if the court shall find that any judicial proceeding primarily concerns income and that it is equitable to charge the expense of such proceeding, or a part thereof, to income, the court may direct that all or a specified part of the expense of such proceeding, including attorney's fees, shall be charged to income;
(3) all of the other ordinary expenses incurred in connection with the administration, management, or preservation of trust property and the distribution of income, including interest, ordinary repairs, regularly recurring taxes assessed against principal; and
(4) recurring premiums on insurance covering the loss of a principal asset or the loss of income from or use of the asset.
