Montana § 72-34-423 - Allocation Between Principal And Income -- Impartial Exercise Of Discretion
Full text of Montana Montana Code Annotated § 72-34-423 — Allocation Between Principal And Income -- Impartial Exercise Of Discretion, with citation guidance and answers to common questions.
§ 72-34-423. Allocation Between Principal And Income -- Impartial Exercise Of Discretion
Allocation between principal and income -- impartial exercise of discretion. (1) In allocating receipts and disbursements to or between principal and income and with respect to any other matter within the scope of this part, a fiduciary: (a) shall administer a trust or decedent's estate in accordance with the trust or the will, even if there is a different provision in this part; (b) may administer a trust or decedent's estate by the exercise of a discretionary power of administration given to the fiduciary by the trust or the will, even if the exercise of the power produces a result different from a result required or permitted by this part and no inference that the fiduciary has improperly exercised the discretion arises from the fact that the fiduciary has made an allocation contrary to a provision of this part; (c) shall administer a trust or decedent's estate in accordance with this part if the trust or the will does not contain a different provision or does not give the fiduciary a discretionary power of administration; and (d) shall add a receipt or charge a disbursement to principal to the extent that the trust or the will and this part do not provide a rule for allocating the receipt or disbursement to or between principal and income. (2) In exercising a discretionary power of administration regarding a matter within the scope of this part, whether granted by a trust, a will, or this part, including the trustee's power to adjust under 72-34-424 (1), the fiduciary shall administer the trust or decedent's estate impartially, except to the extent that the trust or the will expresses an intention that the fiduciary shall or may favor one or more of the beneficiaries. The exercise of discretion in accordance with this part is presumed to be fair and reasonable to all beneficiaries.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 72-34-423
What does Montana Code Annotated § 72-34-423 cover?
Section 72-34-423 ("Allocation Between Principal And Income -- Impartial Exercise Of Discretion") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 72-34-423?
A common citation format is "Montana Code Annotated § 72-34-423" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 72-34-423 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.