Code of VirginiaTitle 64.2. Wills, Trusts, and Fiduciaries8/25/2019 Chapter 10. Uniform Principal and Income ActRead Chapter Article 1. Definitions and Fiduciary DutiesRead all § 64.2-1000Definitions § 64.2-1001Fiduciary duties; general principles § 64.2-1002Fiduciary's power to adjust § 64.2-1003Total return unitrust Article 2. Decedent's Estate or Terminating Income InterestRead all § 64.2-1004Determination and distribution of net income § 64.2-1005Distribution to residuary and remainder beneficiaries Article 3. Apportionment at Beginning and End of Income InterestRead all § 64.2-1006When right to income begins and ends § 64.2-1007Apportionment of receipts and disbursements when decedent dies or income interest begins § 64.2-1008Apportionment when income interest ends Article 4. Allocation of Receipts During Administration of TrustRead all Part 1. Receipts from Entities § 64.2-1009Character of receipts § 64.2-1010Distribution from trust or estate § 64.2-1011Business and other activities conducted by trusteePart 2. Receipts Not Normally Apportioned § 64.2-1012Principal receipts § 64.2-1013Rental property § 64.2-1014Obligation to pay money § 64.2-1015Insurance policies and similarPart 3. Receipts Normally Apportioned § 64.2-1016Insubstantial allocations not required § 64.2-1017Deferred compensation, annuities, and similar payments § 64.2-1018Liquidating asset § 64.2-1019Minerals, water, and other natural resources § 64.2-1020Timber § 64.2-1021Property not productive of income § 64.2-1022Derivatives and options § 64.2-1023Asset-backed securities Article 5. Allocation of Disbursements During Administration of TrustRead all § 64.2-1024Disbursements from income § 64.2-1025Disbursements from principal § 64.2-1026Transfers from income to principal for depreciation § 64.2-1027Transfers from income to reimburse principal § 64.2-1028Income taxes § 64.2-1029Adjustments between principal and income because of taxes Article 6. Miscellaneous ProvisionsRead all § 64.2-1030(Effective October 1, 2019) Expenses and receipts; nontrust estates § 64.2-1030(Effective until October 1, 2019) Expenses and receipts; nontrust estates § 64.2-1031Uniformity of application and construction § 64.2-1032Application of chapter to existing trusts, decedent's estates, and nontrust estates