Connecticut § 45a-542l Principal receipts.

Connecticut Statutes

§ 45a-542l — Principal receipts.

Connecticut § 45a-542l

Title 45aProbate Courts and Procedure

Ch. 802cTrusts

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Bluebook

Conn. Gen. Stat. § 45a-542l (2026).

Text

A trustee shall allocate to principal:

(1)To the extent not allocated to income under sections 45a-542 to 45a-542ff , inclusive, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest or a payer under a contract naming the trust or its trustee as beneficiary;

(2)Money or other property received from the sale, exchange, liquidation or change in form of a principal asset, including realized profit, subject to sections 45a-542i to 45a-542w , inclusive;

(3)Amounts recovered from third parties to reimburse the trust because of disbursements described in subdivision (7) of subsection (a) of section 45a-542y or for other reasons to the extent not based on the loss of income;

(4)Proceeds of property taken by eminent d

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A trustee shall allocate to principal: (1) To the extent not allocated to income under sections 45a-542 to 45a-542ff , inclusive, assets received from a transferor during the transferor's lifetime, a decedent's estate, a trust with a terminating income interest or a payer under a contract naming the trust or its trustee as beneficiary; (2) Money or other property received from the sale, exchange, liquidation or change in form of a principal asset, including realized profit, subject to sections 45a-542i to 45a-542w , inclusive; (3) Amounts recovered from third parties to reimburse the trust because of disbursements described in subdivision (7) of subsection (a) of section 45a-542y or for other reasons to the extent not based on the loss of income; (4) Proceeds of property taken by eminent domain, but a separate award made for the loss of income with respect to an accounting period during which a current income beneficiary had a mandatory income interest is income; (5) Net income received in an accounting period during which there is no beneficiary to whom a trustee may or must distribute income; and (6) Other receipts as provided in sections 45a-542p to 45a-542w , inclusive.