Prob. Code, § 16347 · Article 4. Allocation of Receipts
Prob. Code, § 16347
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) If a fiduciary determines that an allocation between income and principal required by Section 16348, 16349, 16350, 16351, or 16354 is insubstantial, the fiduciary may allocate the entire amount to principal, unless subdivision (e) of Section 16327 applies to the allocation.
(b) A fiduciary may presume an allocation is insubstantial under subdivision (a) if both of the following conditions are met:
(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.
(2) The asset producing the receipt to be allocated has a fair market value of less than 10 percent of the total fair market value of the assets owned or held by the fiduciary at the beginning of the accounting period.
(c) The power to make a determination under subdivision (a) may be either of the following:
(1) Exercised by a cofiduciary in the manner described in subdivision (f) of Section 16327.
(2) Released or delegated for a reason described in subdivision (g) of Section 16327, and in the manner described in subdivision (h) of Section 16327.
(d) This section does not impose a duty on the trustee to make an allocation under this section, and the trustee is not liable for failure to make an allocation under this section.
Notes and commentary — not statutory text
History
Repealed and added by Stats. 2023, Ch. 28, Sec. 2. (SB 522) Effective January 1, 2024.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=PROB§ionNum=16347.
- Text hash
- sha256 fe7bd79edb489d0e17577f4096ef38ea391bd2a1ce5681d0849b7ca53f298036
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Probate Code
- Prob. Code, § 16327Printed as Section 16327
- Prob. Code, § 16348Printed as Section 16348, 16349, 16350, 16351, or 16354
- Prob. Code, § 16349Printed as Section 16348, 16349, 16350, 16351, or 16354
- Prob. Code, § 16350Printed as Section 16348, 16349, 16350, 16351, or 16354
- Prob. Code, § 16351Printed as Section 16348, 16349, 16350, 16351, or 16354
- Prob. Code, § 16354Printed as Section 16348, 16349, 16350, 16351, or 16354
Cited by 1 provision
Provisions in this library whose text cites Prob. Code, § 16347. Each shows the citation as that text prints it.
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