RCW 11.104B.420
156 words·~1 min read·
/wa/title-11/chapter-11-104b/11-104b-420·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)In this section, "depreciation" means a reduction in value due to wear, tear, decay, corrosion, or gradual obsolescence of a tangible asset having a useful life of more than one year.
(2)A fiduciary may transfer to principal a reasonable amount of the net cash receipts from a principal asset that is subject to depreciation, but may not transfer any amount for depreciation:
(a)Of the part of real property used or available for use by a beneficiary as a residence;
(b)Of tangible personal property held or made available for the personal use or enjoyment of a beneficiary; or
(c)Under this section, to the extent the fiduciary accounts:
(i)Under RCW 11.104B.290 for the asset; or
(ii)Under RCW 11.104B.220 for the business or other activity in which the asset is used.
(3)An amount transferred to principal under this section need not be separately held.
[ 2021 c 140 s 2503 .]