House Bill 206 Alabama 2026 Session

Summary

Primary Sponsor

Tim Wadsworth Representative

Republican

Session

2026 Regular Session

Title

Trusts; amend Alabama Principal and Income Act, permit trustee to adjust between principal and income

Description

Under existing law, a trustee can only adjust trust receipts and disbursements between principal and income if the terms of the trust explicitly grant the trustee that authority.

This bill would permit trustees to adjust receipts and disbursements between principal and income without requiring the trust terms to authorize the adjustments, aligning current law with the Uniform Principal and Income Act.

This bill would also make nonsubstantive, technical revisions to update the existing code language to current style.

Show more Show less

Subjects

Property & Estates