Uniform Principal and Interest Act
A uniform statute, adopted by most states, that in its most recent version allows some trustees to make adjustments that were not formerly allowed. For example, a trustee could distribute principal to income beneficiaries if it were necessary to carry out the purpose of the trust.
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate

Nolo’s Plain-English Law Dictionary. . 2009.

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