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2011 Vermont Code
Title 14 Decedents' Estates and Fiduciary Relations
Chapter 117 UNIFORM PRINCIPAL AND INCOME ACT
§ 3302 Application of chapter; powers of settlor


14 VT Stats § 3302. (2011 through Adj Sess) What's This?

§ 3302. Application of chapter; powers of settlor

This chapter shall govern the ascertainment of income and principal, and the apportionment of receipts and expenses between tenants and remaindermen, in all cases where a principal has been established with or, unless otherwise stated hereinafter, without the interposition of a trust; except that in the establishment of the principal provision may be made touching all matters covered by this chapter, and the person establishing the principal may himself or herself direct the manner of ascertainment of income and principal and the apportionment of receipts and expenses or grant discretion to the trustee or other person to do so, and such provision and direction, where not otherwise contrary to law, shall control notwithstanding this chapter.

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