Pennsylvania § 7746 Overdue distribution - UTC 506

Pennsylvania Statutes

§ 7746 — Overdue distribution - UTC 506

Pennsylvania § 7746

Title 20DECEDENTS, ESTATES AND FIDUCIARIES

Ch. 77TRUSTS

Subch.CREDITOR'S CLAIMS; SPENDTHRIFT AND

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Bluebook

20 Pa. Cons. Stat. § 7746 (2026).

Text

(a)Distribution not made within reasonable time.--Whether or not the interest of the beneficiary in the trust is subject to a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the mandated distribution date.

(b)Definition.--As used in this section, the term "mandatory distribution" means a distribution of income or principal that the trustee is required by the terms of the trust to make to a beneficiary, including a distribution upon the termination of the trust. The term excludes a distribution that is subject to the exercise of the trustee's discretion regardless of

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(a) Distribution not made within reasonable time.--Whether or not the interest of the beneficiary in the trust is subject to a spendthrift provision, a creditor or assignee of a beneficiary may reach a mandatory distribution of income or principal, including a distribution upon termination of the trust, if the trustee has not made the distribution to the beneficiary within a reasonable time after the mandated distribution date.

(b) Definition.--As used in this section, the term "mandatory distribution" means a distribution of income or principal that the trustee is required by the terms of the trust to make to a beneficiary, including a distribution upon the termination of the trust. The term excludes a distribution that is subject to the exercise of the trustee's discretion regardless of whether the terms of the trust include a support or other standard to guide the trustee in making distribution decisions or provides that the trustee "may" or "shall" make discretionary distributions, including distributions pursuant to a support or other standard.

Legislative History

(July 15, 2024, P.L.786, No.64, eff. 90 days) 2024 Amendment.Act 64 amended subsec. (b). See section 11 of Act 64 in the appendix to this title for special provisions relating to Uniform Trust Code.