116.171 – INSUBSTANTIAL ALLOCATIONS NOT REQUIRED. If a
Texas Property Code § 116.171
Summary
This law allows trustees to allocate amounts entirely to principal if the allocation between principal and income is deemed insubstantial. It provides flexibility in managing trust assets without the need for detailed allocations when the amounts are minor.
Trustees can allocate amounts to principal if deemed insubstantial.
Reduces administrative burden for minor allocations.
Applies to specific allocation sections in the Texas Property Code.
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In simple terms: Learn about Texas's INSUBSTANTIAL ALLOCATIONS NOT REQUIRED. If a law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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